The Blockchain Industry is still new, even with thousands of projects that laying on it, trying to bring Decentralization to the masses.
Every day, new projects are being launched to the market, with new ideas emerge and developed to solve certain problems in society. And the technology get more complicated as new demands rise up. From the beginning of the industry, with the birth of Bitcoin, the whole network TPS of 7–10 TPS seems like more than enough. Then come Ethereum, Cardano, TronX, Binance Smart Chain, Solana… Each Blockchain serves each own purposes.
There are currently more than 1,000 Blockchains in the space and countless platforms built on those blockchains. The most prominent blockchains include Bitcoin, Ethereum, Cardano, and Binance. Coingecko has listed 6496 coins at the moment, which are either from independent blockchains, or native coins for platforms based on public blockchains.
These high numbers can be very overwhelming, with the technology being confusing for new entrants in the market. For instance, Ethereum is a blockchain with its native token, ETH, but hundreds of other protocols serve different purposes and with their own tokens that use Ethereum’s code. The continued growth of the blockchain industry means that these will keep increasing. At the moment, Ethereum and Binance Smart Chain are currently the 2 most active platforms, with most of the dApps are currently running on those.
While Ethereum is the biggest platform at the moment, it is currently being challenged by latecomers, one among them is Binance Smar Chain.
At the time of writing, Binance Smart Chain Daily Transaction has hit the all time high of 10 Million Daily Transactions, five times more than Ethereum, even with just six months of development (compare to Ethereum with more than seven years of development).
This happens due to the fact that Network congestion are becoming more and more serious with Ethereum. With more and more users using Ethereum since the boom of DeFi, fees are becoming extremely high, while transactions speed are slow, especially during volatility market conditions. Meanwhile, the fees on BSC are absolutely incomparable when stacked against these on ETH. A transaction would cost an average of $18.5 on Ethereum at the time of this writing, while it would cost just a few cents on BSC. The difference is significant, and it makes network interactions a lot more efficient and effective.
Moreover, despite the skyrocketing daily transactions, BSC was only working at a 52% capacity. Ethereum, on the other hand, continues to be clogged, working at a whopping 98.65% capacity.
That is the reason why lots of new projects are currently developing on Binance Smart Chain instead. But Binance Smart Chain has its own problems. With Its capacity getting fuller and the fact that Binance Smart Chain has a similar structure compared to the against Ethereum Network, it might reach the same status and problems that Ethereum is currently facing. This problem requires a solution: a different Blockchain, with a different structure. That is why eyes of Blockchain investors and developers are following the latest blockchain in town: Solana.
While also young, Solana managed to achieve some serious numbers. With high TPS (about 1400 TPS compare to 15 TPS of Ethereum), cheap fees, and structure that allow upgrading and decentralizing, more and more project are looking to deploy and develop on Solana. With its own unique structure, Solana are the new promising lands that inviting new projects to built on SOL.
For that reason, we decided to introduce SOL Pad: The first multichain Launchpad platform on Solana, that help project to crowd-funding on both Solana and Binance Smart Chain.
Our platform will allow users to participate in fully secured and reliable features such as crowdfunding, private and public sales, liquidity mining, staking, multichain swapping, and many more. We aim to bring as many cryptocurrencies and as many blockchains as possible into one Decentralized place that you can manage using our Tools. Our pools will offer automatic whitelisting with infallible KYC process as well as several types of swaps available. We also plan to create The First and The Only truly crypto-oriented business incubator.
And it is just the beginning. Keep following us on our social media below, for more updates coming soon!
With SOL Pad, the future is here!