What are the SOL Coin and ADA coin?

Solana is a popular blockchain that has become a base for thousands of DeFi and NTF projects due to its fast transaction speed and other features.

14:02 04 October 2022

The project's creators aim to grow the user base and the platform by reducing throughput, increasing network speed and allowing developers to build, deploy and scale decentralized applications.

Solana runs on the Proof-of-Stake consensus protocol, which means SOL coins are produced not via mining but via staking.

SOL is Solana’s native token that participates in smart contracts. There is no max supply of SOL tokens. There is no information about the SOL coin supply; however, so far, 489 million tokens are in circulation. Looking at the Solana chart, we can see how the token’s price changed during the day or any other timeframes. As of September 2022, the SOL price is $33,31.

Cardano is also on the list of top crypto projects in the market. It is a scalable and flexible network where developers can build and deploy decentralized applications, games, new tokens, etc. and execute smart contracts. The native crypto is ADA, which is among the top coins in 2022. The current ADA price is $0,4474. The Cardano blockchain is based on a two-layered architecture that enables smart contracts deployment and transactions proceeding, engaging its potential interoperability.

Which Asset is Better?

Both projects are innovative, bringing groundbreaking technologies to the crypto industry. Each of them offers unique features for users and has large communities. It is important to note that Solana provides cheaper transactions, and its blockchain is faster. In the long run, Solana has a better chance of becoming a decent competitor to Ethereum. But this advantage is unlikely to be realized before 2023.

Conclusion

It is very difficult to answer the question of which is better to choose, Cardano or Solana since both projects are worth attention. The golden rule of an investor is diversification. You should not store most of your investment portfolio in one asset. Therefore, the ideal option would be to have both coins in your investment portfolio.

Solana exchange is available on all large crypto platforms, including WhiteBIT, Coinbase and Binance. On these platforms, you can also convert Solana to fiat currencies; for example, Solana to GBP or Solana to Euro pairs are available.