$SOL
Yes, exactly! An altcoin is any cryptocurrency other than Bitcoin. Solana ($SOL) falls into this category as an alternative blockchain network designed for decentralized applications (DApps) and smart contracts.
How Solana Differs from Ethereum:
1. Scalability & Speed – Solana uses a unique mechanism called Proof of History (PoH) combined with Proof of Stake (PoS), allowing it to process thousands of transactions per second, much faster than Ethereum.
2. Lower Fees – Since Solana does not rely on Ethereum’s high gas fees, it offers significantly cheaper transactions.
3. Energy Efficiency – Unlike Ethereum (before Ethereum 2.0), Solana doesn’t require expensive mining equipment, making it more eco-friendly.
Because of these advantages, many developers choose Solana for applications like NFTs, DeFi, and gaming platforms. However, it has also faced network outages, which remain a challenge compared to Ethereum’s reliability.
Would you like more details on any aspect of Solana?
