SOLANA (SOL), CARDANO (ADA), Buzzshow (GLDY), AND BITGERT (BRISE) – Which Has The Fastest Blockchain?
The use of blockchain technology is rapidly increasing and progressing. There are thousands of blockchain-based projects competing today, ten years after Bitcoin was born. There are some blockchain platforms that are virtually indistinguishable from core blockchain technology.
In addition to using cryptographically signed, irreversible transactional records that are shared among all users, they also facilitate broadly distributed value exchange. All transaction records include a timestamp and references to previous transactions. It is a decentralized state transition engine that tracks digital asset life cycles and keeps track of transactions on an immutable distributed ledger.
The hottest topic right now is comparing the features of various blockchain initiatives. However, there are variances in terms of performance, with scaling being one of the most important factors. So, which blockchain is the fastest and most efficient one?
In this article, we will discuss some blockchain projects and their features.
Solana is a decentralized crypto-computing platform that accepts payments in SOL. The aim of the platform is high transaction speeds without losing decentralization.
Solana is a cryptocurrency and a flexible framework for launching decentralized software (DAPPs) ranging from Degenerate Apes to the Serum decentralized exchange similar to Ethereum or DEX. Its main novelty is speed, which is achieved through a combination of innovative technologies, including a consensus technique known as proof of history (PoH). Solana attempts to increase blockchain scalability by combining proof of stake and proof of history consensus. Solana can execute around 50,000 transactions per second.
Solana is so quick that traffic and fees are kept at an absolute minimum. According to the developers, high speeds and cheap prices would allow Solana to eventually compete with centralized payment processors like Visa.
The native cryptocurrency of Solana is SOL, which is utilized for transaction fees and staking. It also entitles owners to vote on future upgrades. SOL can be purchased and sold on exchanges like Coinbase.
The high speed of the Solana blockchain is one of the reasons why the coin rose so quickly in such a short time to enter the top ten largest cryptocurrencies list.
Cardano is a proof-of-stake blockchain platform whose purpose is to empower the world’s changemakers, innovators, and dreamers to bring about a better world. Cardano was formed in 2017 and is named after Gerolamo Cardano, a 16th-century Italian polymath. The ADA token is named after Ada Lovelace, a 19th-century mathematician widely recognized as the world’s first computer programmer.
Cardano is one of the most well-known blockchains to have successfully implemented a proof-of-stake consensus mechanism, which is less energy-intensive than Bitcoin’s proof-of-work method. As Ethereum is a larger network, the shift to PoS is quite a slow process. Cardano allows users to create and deploy smart contracts, enabling the creation of native decentralized apps (DApps) on the blockchain. Cardano is protected by the Ouroboros PoS protocol, which is environmentally sustainable and verifiably safe. ADA is the Cardano native token. The ADA token is meant to allow owners to participate in the network’s operation. As a result, holders of the cryptocurrency have the ability to vote on any proposed software updates.
Cardano’s blockchain speed is the slowest with a speed of roughly 250 TPS. It has a scaling protocol upgrade that increases its TPS to one million, making it faster, but it has to wait for the hydra upgrade before this happens.
BuzzShow Goldies (GLDY)
BuzzShow Network is a decentralized reward-based social video-sharing platform built on blockchain technology. On the platform, there is a wide range of videos in every genre. BuzzShow Network gives “Goldies (GLDY)” – BuzzShow Coin to users that watch, share, curate, and create videos on the platform. Goldies (GLDY) – an ERC20 coin is a network native utility token based on Ethereum technology. Goldies may also be simply converted to ETH tokens and Polygon Matic. GLDY coin, which is based on a proof-of-contribution protocol, functions as a utility token with a full-cycle economic aspect that is well thought out.
On the Ethereum platform, asset tokenization is possible without the need for a separate blockchain, and smart contracts are used on the ERC20 platform to ensure transaction security. Polygon Bridge is also integrated, which is a cross-chain bridge that connects Polygon to Ethereum in a fully decentralized two-way transaction channel using Plasma and PoS security. When moving tokens across Polygon, users no longer have to worry about third-party risks or market liquidity constraints. Smart contracts allow for micropayments to be sent quickly, in a couple of seconds. As a result, the platform can manage large volumes of transactions.
BuzzShow Network is a P2P blockchain platform and generously pays all participants based on a sophisticated proof of contribution system incorporated into the network, without the drawbacks of legacy, centrally controlled social media platforms, such as lack of equitable income sharing, biased laws, and invasion of privacy due to misuse of user data.
Furthermore, the platform integrates IPFS (InterPlanetary File Sharing) which enables online video storage. Additionally, the system’s decentralization will allow it to resist attacks like DDOS and ransomware, making it more open, faster, and safer.
Bitgert BRC20 is a chain that debuted in mid-February. Bitgert is a crypto engineering organization that has built the fastest blockchain with a transaction speed of 100,000 transactions per second and a near-zero transaction fee. This is a fantastic speed that will entice everyone to use the Bitgert chain.
Bitgert has the fastest-growing ecosystem with projects spanning Defi, NFTs, Web3, & much more. Binance Smart Chain and Bitgert Chain both support Bitgert Coin.
This means Bitgert BRC20 has surpassed Solana, which had been the fastest chain at the longest period, with 65k TPS at the time. Furthermore, the Brise chain is the only blockchain with a gas fee mechanism of $0. The Bitgert BRC20 blockchain is that much powerful.
By digging deep in the blockchain, BuzzShow Goldies ERC20 and Bitgert BRC20 have overtaken all the blockchains. There is tough competition between these two. Both aim to benefit their users. So, go for what best suits you. It also depends on your requirements. Do your research as well.