Solana’s comeback: Can this blockchain outpace Ethereum in Web3’s uncertain future?
Solana, a blockchain platform renowned for its speed and scalability, has surmounted past technical hurdles to establish itself as a key player in Web3. Once seen as a rival to Ethereum, it now ranks second in developer activity and funds on its network. Yet despite its progress, mainstream adoption of Web3 and cryptocurrencies remains uncertain.
Solana initially grappled with repeated outages, with the last major incident occurring on 25 September 2024. Since February of that year, however, the network has operated without disruption. Its ability to process multiple transactions at once makes it a strong fit for crypto gaming, social media, and online payments.
The platform’s growth comes as Web3—a vision of a user-owned internet—has yet to gain widespread traction, despite existing for over a decade. While artificial intelligence could help accelerate this shift, crypto markets still face volatility. In November, prices slumped, with investor sentiment hitting 'fear' or 'extreme fear' on the fear and greed index.
Experts caution that cryptocurrencies, including Solana, remain high-risk assets. They advise limiting exposure to a small portion of any investment portfolio.
Solana’s future depends on whether Web3 gains broader acceptance. Its speed, scalability, and active developer community give it an edge in potential applications. For now, though, the technology remains a speculative bet rather than a mainstream solution.
