Ethereum is often considered a third-generation cryptocurrency due to its smart contract functionality, enabling decentralized applications (dApps) and complex programmability, building on Bitcoin's first-generation (pure digital currency) and second-generation (basic scripting) models. Solana, while advanced with high throughput and low latency, is typically not labeled as a distinct "generation" but rather a modern layer-1 blockchain competing with Ethereum. Generational classifications are less rigid today, as blockchains like Solana focus on scalability and performance rather than a new paradigm shift.
