Should You Buy Solana? 3 Pros, 3 Cons | Investing

Perhaps the biggest selling point of Solana is its transaction speed. Solana may be the best potential Ethereum rival among altcoins, largely because of its speed. Solana can support tens of thousands of transactions per second compared to only about 13 transactions for Ethereum, which currently operates on a proof-of-work, or PoW, model that requires miners to complete complex calculations to validate transactions. Solana’s proof-of-history, or PoH, and proof-of-stake, or PoS, models verify transactions based on coin ownership. This ease of verification also helps Solana have lower fees than Ethereum. Solana’s average fee is less than 1 cent per transaction.