Why Build Solana Blockchain Powered Solster Ecosystem?
Solana is a fast, secure, and fair blockchain providing the open infrastructure for IDO projects like Solster that help bring the adoption of the Solana to fruition.
The rapid growth in decentralized finances in the past few years has helped many Ethereum based platforms spring to life. However, the volumes of transactions in DeFi have always led to scalability issues.
The Ethereum networks are congested, slow, and expensive at the same time. Developers have been trying to solve scalability complexities for a long period.
Some blockchain solutions as Binance Smart Chains have tried to solve the scalability problems existing in the market. But they also need a fair bit of improvements in making the ecosystem fast-paced, safe, affordable, fair, and decentralized.
It is where we think of the Solana-based Solster ecosystem as a perfect fit against the existing DeFi problems. The followings are the major reasons:
- Solana supports 65,000 TPS. Well, Solana is designed to scale together with hardware, and bandwidth.
- Solana’s transaction fee is very small and that’s the reason it cost-effective.
- As you know decentralization is the core requirement of blockchain and Solana meets it perfectly.
The sluggish decentralized finances need massive improvements. We think our Solster ecosystem built on the Solana blockchain, Serum, and Bonfida can make decentralized finances fast-paced, fair, and accessible for everyone.
Solana networks can handle large transactions per second with a peak of 65000 TPS. The network costs very little when compared with counterparts. No matter how congested the networks are, Solster ensures the users participate in the network.
A few blockchain experts and critics claim Solana will never reach the level of Ethereum as it covers a significant market pie (being one of the best blockchain networks in DeFi).
That said, Solana is still making its place despite receiving the low media attention. Some of Solana projects have become the highest market cap projects in DeFi. Take a look at the projects below:
- Solana - $7B Market Cap
- Oxygen - $300M Market Cap
- Serum - $250M Market Cap
It motivates us to improve Solster at each level. We aim to build a quality DeFi community and explore the DeFi ecosystem with Solana.