The article below is a submitted piece and is not the responsibility of Crypto Insider. This is not financial advice and our analysts are not financial advisors. Investment involves risks. Always consult an advisor when making financial decisions. The information and tips on this website are for educational purposes only.
If you follow the crypto news of the crypto industry a bit, you probably heard about the epic rise of Solana (SOL) in 2021. Investors who jumped at the 2020 launch could have cashed in almost 44,000% gains at the peak of SOL in November 2021. Of course we all dream of this kind of profit. Behind all crypto is a possible success story. In this article, we look at Metacade (MCADE).
What is the Solana (SOL) platform?
Solana is a blockchain platform that uses smart contracts to provide other frameworks for building applications. It is often seen as one of Ethereum’s (ETH) main rivals as they share many of the same features. Where Solana stands out, however, is in transaction speeds and fees. When Solana was first announced in 2017, transaction speeds for most blockchains were limited to around 15 transactions per second (TPS). For reference, Visa and Mastercard can handle around 65,000 TPS.
Today, Solana has a theoretical peak capacity of around 65,000 TPS. According to Solana’s documentation, it has an upper limit of 710,000 TPS on a standard gigabit network and a staggering 28.4 million TPS on a 40-gigabit network. Even in the current bear market, Solana processes around 3500-5000 TPS at an average price of $0.00025 per share. trade. Compare that to a post-merge Ethereum processing between 10-20 TPS at around $2 per trade.
Because of these incredible speeds and low costs, users flocked to Solana in 2021. This happened after the primarily Ethereum-based DeFi and NFT gold rush pushed transaction costs close to $50 at one point. Even after the market frenzy died down, Solana still holds its place as one of, if not the fastest programmable blockchains. It currently ranks #16 on CoinMarketCap’s ranking as one of the most successful crypto projects.
How does Solana (SOL) work?
Like Ethereum, Solana uses a proof of effort (PoS) consensus mechanism to validate transactions. But to achieve these lightning-fast transaction speeds, Solana combines PoS with a system known as proof-of-history (PoH).
Explaining how PoH works in its entirety would be beyond the scope of this article. In short, PoH provides each node with a central cryptographic clock to use when assigning a timestamp to transactions, unlike other blockchains. This means that instead of communicating to validate a block, nodes only need to agree on the order of the transactions, as specified by a “leader” node.
This is equivalent to taking a picture of today’s newspaper and posting it online; you recorded something that proves an event happened at a certain time.
What is Metacade (MCADE)?
Like Solana, Metacade aims to be a disruptor in its field. Metacade is a community hub designed for the future of gaming. It is the platform where GameFi fanatics, crypto enthusiasts, entrepreneurs and developers come together and immerse themselves in everything Web3 has to offer. Metacade has three main goals: to help users find their next favorite Play2Earn game, to help them earn more from games, and to connect with like-minded players.
To do this, Metacade is launching several innovative features that are likely to attract thousands of players to the platform. For example, Metacade plans to reward its users for playing their part in the community. When someone beta tests a game, shares a GameFi alpha, or writes a review, they get MCADE tokens for their efforts. This leads to a community that is incentivized to make the Metacade platform the best destination on the web for all things Play2Earn, GameFi and Web3.
Can Metacade (MCADE) take on Solana (SOL)?
But rewarding users isn’t the only feature Metacade has in the works. Metacade plans to become a fully self-sustaining ecosystem, producing some of the most popular Web3 games on the market through Metagrants.
For the Metagrants, game developers present their ideas to the Metacade community, who then vote on the project they want to see built. The winner will receive generous funding and ongoing community support, and the finished title will be added to the Metacade virtual arcade. Ultimately, Metacade plans to fill an arcade with titles developed and supported by the community.
These titles are not the only games you can find on Metacade. Metacade wants their platform to become the best source for finding and earning Play2Earn games. Features like leaderboards, a rating system, and content portals will level the playing field and give everyone equal access to GameFi. Players can increase their gaming earnings through exclusive tournaments, casual work and testing opportunities. There are plans to develop a full testing environment where developers directly pay users to test their games and provide feedback.
Ultimately, the team behind Metacade wants to transfer control to the community through a decentralized autonomous organization (DAO). This allows Metacade users to determine the future direction of the platform by voting on features, partnerships and governance rules they would like to see.
Investment in Solana (SOL) vs. Metacade (MCADE)
Although Solana has climbed the rankings due to its innovative architecture, it is not without its critics. Many have pointed out that Solana relies heavily on venture capital for its funding: almost 50% of all SOL tokens were given to the team and venture capital firms.
In addition, frequent outages have plagued the network, which happened at least five times in 2022. Not to mention that Ethereum 2.0 has been implemented to allow more than 100,000 TPS, putting it in competition with Solana.
Meanwhile, Metacade does not suffer from these problems. The team focuses on societal value, not insider profit. Furthermore, Metacade is part of a rapidly growing industry.
Buy Solana at Bitvavo.
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The above article is a submitted piece and is not the responsibility of Crypto Insider. This is not financial advice and our analysts are not financial advisors. Investment involves risks. Always consult an advisor when making financial decisions. The information and tips on this website are for educational purposes only.