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Simply put, Solana's popularity as a blockchain and ecosystem can be accredited to its native scalability, low commissions, and extreme rapidity. It has seen tremendous growth in recent months, both in terms of the user base, the number of newly emerging projects, and the total value locked (TVL) in DApps. When we mention native scalability, we refer to the number of transactions that can be performed per second without relying on some layer-2 scaling solution, like sharding on Ethereum. A transaction on Solana is about 2.5 times faster than Visa’s. Correct, just let that sink in!
It's the innovative Proof-of-History (POH) timing mechanism built on top of Solana's Proof-of-Stake (PoS) protocol structure that supports an astonishing peak theoretical capacity of 65,000 transactions per second (TPS).
At the same time, all these advancements haven't gone unnoticed for early developers and retail investors that are out there, looking to find the next legitimate ecosystem that could compete with ETH or BSC. At Solcubator, we believe the Solana ecosystem has significant room to grow. The total value locked (TVL) in its DApps is still relatively small compared to leading competing blockchains such as BSC and ETH. Besides, you should know that we're purposely using Solana's name in association with the latter blockchains because of our genuine belief in the ecosystem's potential. One of the main benefits of creating our launchpad on Solana is that you can navigate its blockchain promptly against negligible transaction costs. As a matter of fact, we view it as the perfect mix between scalability, security, and decentralization. After all, this is what you would look for in a next-gen launchpad. Unlike Ethereum, where investors are currently dealing with outrageous gas fees that have nearly resulted in the postponement of project launches and existing projects losing user engagement — staking, claiming, and everyday transactions/operations on its blockchain can cost up to hundreds of dollars in transactions fees.
Nonetheless, there are some other yet undiscussed and unique benefits of using Solana to improve our launchpad, which we will reveal soon by actually implementing it.