Introduction and methods

Solana has been one of the top L1 network leaders in terms of growth over the past year. It is reflected in the performance of its market price, that jumped to a new ATH over the year. In several previous studies, we have analyzed the growth not only in terms of transactions, but also in terms of new users or daily transacted volume.

In this occasion, we are gonna see what competitive advantages has Solana against Ethereum and viceversa in order to determine if it is a good option for developers instead of Ethereum. To do that, we are gonna analyze the following metrics:

• Daily transactions voer the past month
• Transactions per Second (TPS) over the past month´
• Success rate of transactions over the past month

Results

The first metric to be compared is the number of daily transactions over the past 30 days. Here we can see how the amount of Solana transactions is extremelly higher than in Ethereum. In fact, we can say that are more than 10x higher. While in Ethereum network a total of 1M transactions are being executed daily, in Solana network the number of transactions oscillated between 10 and 30M of transactions. In both cases, it seems like the number of transactions remained constant over the past 30 days.

The second comparison is the transactions per second, the so-called TPS. Because of it is related to the preivous metric, in this case the result shows as expected. Again, the TPS is higher for Solana rather than for Ethereum network. In the first case, the number of TPS fluctuates from 116 to 370 TPS, while in Ethereum between 12 and 14, which are so different numbers.

Final, in terms of success rate, we can see how the rate of Solana are below the rate of Ethereum. IN fact, Solana's rate is a cause for concern as it is barely above 0.6, so if it drops any lower it will be 1 in 2 transactions that fail. On the other hand, the Ethereum rate is always practically similar around 0.96, having a high success rate.

Conclusions

Ïn this dashboard we have compared three main metrics between Solana and Ethereum to determine which is the best choose for developers. As a results, we have obtained that the number of transactions and the TPS is higher in Solana. However, the success rate is too low to trust on the network. It is clear that if almost 50% of the transactions in your network fail, it is not very viable for a developer to work under such conditions. Seeing the number of transactions that Solana is able to support every second, it would be better to reduce this capacity a bit for the sake of increasing the success rate.