Fantom vs Solana: Which Project Has More Potential?
By Guest Writer February 28, 2023 Update on : February 28, 2023
Fantom and Solana are both popular crypto projects, each featuring a native cryptocurrency. Fantom (FTM) is a popular digital coin, as well as SOL, the cryptocurrency used in Solana for a variety of purposes.
In the following article, we’ll compare FTM vs SOL and help you learn more about the two popular cryptos and the projects they’re part of. Ultimately, this guide should help you decide which one you should pick if you cannot decide between the two.
All About Solana
Solana is an open-source project of permissionless nature, and its main goal is to provide decentralized finance solutions. The idea of Solana was created in 2017, and the project officially came to life in 2020. The leading organization behind Solana is called the Solana Foundation, and it’s located in Switzerland.
Solana stands out from the pack because of its unique Proof-of-History consensus protocol, which allows both better scalability and usability. Moreover, the protocol is designed to minimize fees associated with transactions of SOL.
Solana’s popularity skyrocketed shortly after the project was presented to the public. Since it was basically similar to Ethereum but with much greater scaling capabilities, Solana was aptly named the Ethereum killer.
In short, Solana can do everything like Ethereum, but it uses more sophisticated technology. Despite that, it still hasn’t managed to overtake ETH. However, it’s ranked relatively high based on its overall popularity (the 16th largest market cap at the moment).
What Is Fantom?
Fandom is another platform that provides DeFi services to users around the globe, meaning its services are similar to that of both Ethereum and Solana. Fantom’s creators addressed transaction speed as one of the significant issues in their competitors — Fantom’s speed is under two seconds. The platform is based on the directed acrylic graph (DAG) smart contracts, which makes the creation of decentralized apps and digital assets a fast and convenient process.
The project was created in 2018, but the mainnet launched in 2019, and the central organization behind the Fantom protocol is called the Fantom Foundation. The foundation was founded by Dr. Ahn Byung Ik, a computer scientist from South Korea. The current CEO is Michael Kong.
Fantom vs Solana: Head-to-Head
As you may have noticed, Fantom and Solana are similar projects, and both of their native tokens — FTM and SOL — are pretty popular in the crypto world. Let’s now take a closer look at these tokens and compare them based on their historical data.
First of all, let’s take a look at SOL.
- Cointmarketcap ranking: #16
- Market cap: $4,5 billion
- All-time high: $260.06 (Nov 6, 2021)
- All-time low: $0.5052 (May 11, 2020)
- Total supply: 536 million SOL
- Circulating supply: 366 million SOL
Below, you’ll find the same information for FTM, which should help you compare the two cryptocurrencies and see how they rank compared to other cryptos.
- Cointmarketcap ranking: #6
- Market cap: $560 million
- All-time high: $3.48 (Oct 28, 2021)
- All-time low: $0.001953 (Mar 13, 2020)
- Total supply:175 billion FTM
- Circulating supply:7 billion FTM
Which One Should You Choose?
As you can see, both cryptos are performing well, but SOL is currently much more popular among crypto traders. That said, the crypto world is unpredictable, so make sure to do your research and find the latest information about trading the two cryptocurrencies before proceeding with it. In other words, the information provided in this guide should only be a starting point for further research that should help you learn more about Solana and Fantom, as well as their native tokens.
Of course, if you don’t like either of the two projects, check other available cryptocurrencies and the projects they back. For starters, you can read more in our HIVE to TRX comparison and learn about other exciting options in the crypto and blockchain sphere.