Solana Predicted to Surpass Ethereum in Number of Dapps

Solana is expected to overtake Ethereum in the number of consumer decentralized applications (dapps). This forecast was made by Matty Taylor, co-founder of Colosseum and former head of growth at the Solana Foundation, in an interview with Cointelegraph.

“Solana will continue to outperform Ethereum in terms of network performance for creating fast and user-friendly Web3 applications,” the expert stated.

According to Alchemy, the blockchain of the second-largest cryptocurrency by market capitalization currently hosts 1668 dapps compared to 477 in its competitor’s ecosystem.

Taylor noted that over the past three to four months, Solana has experienced a critical moment akin to Mt.Gox for Bitcoin.

“The bear market of 2020 was a decisive moment. But the network has become much stronger than ever. The number of developers is increasing,” he explained.

The expert considered the occurrence of blockchain failures as positive before pension funds transfer their assets into it.

According to DeFi Llama, TVL in Ethereum stands at $49.7 billion—ten times more than Solana’s $3.97 billion. In terms of the number of protocols, the difference is less than twofold (1002 versus 577).

In March, decentralized exchanges based on Solana captured about half of the market in terms of daily trading volume.