Solana
founder,
Anatoly
Yakovenko
has

declared

that

SOL
has
surpassed
Ethereum,
the
world’s
second-largest
cryptocurrency
in
a
critical
metric
–
the
economic
barrier
for
honest
nodes
to
participate
in
consensus. 

Solana
Outpaces
Ethereum
By
10X
In
This
Metric

According
to

Yakovenko,
the
economic
barrier
for
honest
nodes
to
participate
in
consensus
in
Solana
is
10
times
higher
than
Ethereum’s
at
the
moment.
Typically,
blockchains
like

 

Ethereum
and
Solana

rely
on
a
distributed
network
of
computers,
also
known
as
nodes,
to
validate
and
record
transactions.
This
entire
process
is
called
a
consensus
and
ensures
that
all
nodes
in
the
network
work
together
to
maintain
the

blockchain’s
performance

and
security. 

However,
Yakovenko
suggests
that
not
all
nodes
are
equal
and
participation
in
engagement
in
the
blockchain’s
consensus
process
usually
comes
at
a
steep
price.
These
expenses
are
usually
inflated
by
costs
of
running
powerful
hardware,
and
energy
consumption. 

The
Solana
founder
also
disclosed
that

SOL’s
expensive
nodes
are
primarily
due
to
the
investments
Ethereum
has
made
in
Boneh-Lynn-Sacham
(BLS)
aggregation
for
consensus
messages. 

The
Boneh-Lynn-Sacham
is
a
cryptographic
signature
scheme
leveraged
by
Ethereum
which
enables
users
to
verify
the
level
of
authenticity
of
a
signer.
Notably,
the
BLS
scheme
can
hold
messages
independently
verified
by

node
validators.

Reports

from
Ryan
Berckmans,
an
Ethereum
community
member
and
investor,
have
revealed
just
how
expensive
running
a
Solana
validator
is.
He
disclosed
that
the

 

Solana
Foundation

is
currently
financially
supporting
the
blockchain
because
running
a
validator
costs
over
$65,000
per
year. 

Yakovenko
has
disclosed
undefined
plans
to
adopt
a
more
efficient
consensus
mechanism
to
address
the
heightened
voting
fees.
He
disclosed
that
as
hardware
improves,
the
lower
bound
fee
to
send
validator
messages
to
the
entire
cluster
will
eventually
decrease.
As
a
result,
the
cost
per
vote
will
also
decline
and
Solana’s
economic
barrier
for
node
participation
may
drop. 

Additionally,
the
Solana
founder
disclosed
that
establishing
voting
subcommittees
would
lower
vote
fees
and
potentially
reduce
the
vote
load
by
rotating
boxes
in
and
out
of
the
committee. 

ETH
and
SOL
Witness
Slight
Pullback

Lately,
the

price
of
Ethereum

and
Solana
has
been
witnessing
minor
declines,
underscoring
the
waning
demand
for
these
cryptocurrencies
in
the
crypto
market.
As
of
writing,

Solana

has
recorded
a
substantial
weekly
decrease
of
12.91%,
pushing
its
price
down
to
$150.5. 

The
slight

pullback
in
Solana

comes
amidst
the
broader
market
volatility
and
a
slowdown
in
investor’s
demand
for
the
cryptocurrency.
Despite
its
bearish
performance,
crypto
analyst
Ali
Martinez
is
optimistic
about
Solana’s
future
outlook.
Martinez
has

 

predicted

a
potential
price
surge
as
high
as
53%
for
the
popular
cryptocurrency.

On
the
other
hand,
Ethereum
has
continually
witnessed
a

decrease
in
its
value

despite
the
recent
approval
of
Spot
Ethereum
ETFs
by
the
United
States
Securities
and
Exchange
Commission
(SEC).
As
of
the
latest
update,
the
price
of
Ethereum
is
trading
at
$3,485,
marking
a
significant
weekly
decline
of
9.49%. 

Go to Source
Author: Scott Matherson

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