An analysis from CoinMetrics shows that Solana stands out among Layer-1 blockchains for its transaction volume and economic activity. This article reviews key metrics such as transaction activity, fees, and transaction organization.
Transaction Activity in Blockchains
According to CoinMetrics, one of the main indicators of Layer-1 protocol capabilities is transaction activity. Solana shows outstanding performance, processing an average of over 100 million transactions weekly, nearly 50 times higher than the next blockchain.
Significance of Transaction Fees
The cost of transaction fees plays a crucial role in determining the growth potential of a blockchain. CoinMetrics notes that high fees can impede small transactions, even with benefits for validators. Since the surge in interest for tokens and high demand for block space, fees on Solana have significantly increased.
Transaction Organization and User Experience
The way transactions are organized in blocks directly impacts user experience. Solana utilizes a streaming model, which avoids the delays known in Ethereum, where a mempool is used. Each blockchain system aims to improve its attributes such as speed and costs amid the growing interest from institutional investors.
Solana has strengthened its position among Layer-1 blockchains due to high transaction activity and effective process organization. These factors are critical for its continued development in the face of changing market conditions.
