Crypto Master
2024/10/24 16:00
Ethereum V. Solana: An In-Depth Comparison Rivalri
Rivalries exist everywhere, and they are often the source of many great inventions and ideas. Competition is not unnatural to the cryptocurrency world. Quite the opposite, actually.
Much like comparing Android vs. iOS, Microsoft vs. Mac, or any notable rivalry you can think of, in the crypto space, we have Ethereum vs. Solana, two of the biggest decentralized blockchain ecosystems vying for dominance in the decentralized finance (DeFi) space.
In this guide, take a look at the differences between Solana and Ethereum as we cover each blockchain’s key features and their respective architectures, highlighting their pros and cons for users and developers alike.
Let’s start with the basics before we dive into the complex side of things.
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What Is Ethereum?
Ethereum is the second-largest blockchain protocol and the number one DeFi ecosystem for dApps. It’s home to some of the biggest crypto projects, including liquid staking, decentralized exchanges (DEXs), and real-world asset tokenization platforms.
Ethereum is considered the pioneer of DeFi for being one of the first blockchains to implement smart contracts. It is all thanks to the Ethereum Virtual Machine (EVM), which changed the game for smart contract implementations in blockchain-based protocols.
The EVM is responsible for executing smart contracts and managing the state of the Ethereum network. The state is almost literally what it sounds —the current status, or snapshot, of all data stored within the system at any given time. This includes an account’s balance, the smart contract code, etc.
Meanwhile, state transition refers to how the blockchain’s state changes in response to a transaction. When you make a transaction on Ethereum, the state changes, and it simply means the system takes the current state (the old data) and applies the new transactions to create a new, updated state.
And why is the state important in Ethereum?
Accountability: You can always check account balances and contract statuses.
Smart Contract Execution: The Ethereum Virtual Machine (EVM) uses the state to figure out how smart contracts should behave when you run them.
Consensus: All computers in the network maintain their own copies of the world state. This keeps everyone on the same page and prevents any disagreements that could mess things up.
Instead of being written directly on the blockchain (which is like a permanent ledger), this world state is managed in a structure called a Merkle Patricia Trie (MPT), designed for quick searches and updates. Every time someone makes a transaction, the world state updates to reflect the changes.
Moving on, the EVM operates using a stack-based architecture, meaning it processes instructions by temporarily storing data on a stack while executing contracts. This structure is fundamental to how Ethereum processes and maintains its decentralized system.ethereum_vs_solana_cover-3lcrqnisvh9beqnl6cra4q.webp
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