overwhelming maj ority of the votes are from honest participants. All this

occurs in three key phases: block the proposal, soft vote, and certify the vote.

Accounts are selected to propose new blocks to the network in the block

proposal step.

Newer roles—Solana, Avalanche, Cardano, Celo,

and Flow

Ethereum has become the default blockchain for developers looking to build

new crypto applications, from NFT’s to decentralized finance products.

Ethereum has been plagued by slow transaction speeds and high fees. Fees

tend to rise particularly when congestion is high—

a plague of popularity.

For developers, crypto is not j ust a speculative asset class. It is a platform on

which they can build software that extends the usefulness of crypto and sets

the rules for transactions known as smart contracts. In theory, the blockchain

software unlocks some of the many long-promised uses of the technology:

cheap and fast payments, decentralized finance apps, and even consumer

products like games.

An opening has been left by Ethereum’s problems for a number of upstart

blockchains that offer faster and cheaper transactions. They include Solana,

Cardano, Celo, Avalanche, Flow, and others.

Solana promises faster and cheaper transactions processing 5 0,000

transactions per second compared to Ethereum’s 15 – 3 0 per second, with costs

of $ 0.00025 per transaction. By market cap, its token is now the sixth-largest.

The proj ect was built to focus on optimizing hardware that crypto software

runs on, not j ust the software. Solana has generated strong developer interest

and is a platform now to build applications on. Because of its speed, Solana

has become popular for some emerging mainstream finance companies. Some

new NFT’s like degenerate Apes are launching on Solana, which sold out in 8

minutes, reaching a trading volume of $ 5 – 9 million. With NFT drops, it is

proven to people: You can have 3 0,000 or 5 0,000 people hit the system in a

short window of time, two to five seconds, and the system is stable.

Avalanche is popular for decentralized finance apps. It can handle 4,5 00

transactions per second. Allowing developers to port over smart contracts from

the popular blockchain it is compatible with Ethereum-built software through

an Ethereum virtual machine. Avalanche has been used by DeFi proj ects such

as DeFi exchange SushiSwap, Oracle Chainlink, and DeFi protocols Aave and