Solana, Cardano or Polygon: which is the safest Ethereum blockchain killer?





Some blockchains claiming to be Ethereum killers are expected to be updated versions of ETH. But the same cannot be said for safety.

Aaron and Austin Arnold, two major industry influencers, run Altcoin Daily (@altcoindailyio), a popular Twitter account with over 1 million followers on YouTube. On their behalf, they shared their assessment of the relative safety of the Cardano, Polygon and Solana networks.

Influencers have noted that, compared to Solana, the Cardano and Polygon networks seem safer. This impression is based on past and present events in the Solana ecosystem that have shown a number of weaknesses in the network, including the most recent attack involving the Slope and Phantom wallets after which nearly $ 7 million was lost.

The Solana wormhole bridge suffered a major attack in February this year, costing $ 321 million. The affected assets of Wrapped ETH (WETH), which were then transferred to the hacker’s Solana and Ethereum wallets.

The Solana ecosystem has been the victim of five major attacks, costing a total of $ 397 million in the first quarter of 2022 alone. The claim that ADA and MATIC are safer seems logical given that Polygon has only been hacked once and Cardano wasn’t serious about crypto hack list at all.

Solana did not register the highest figure, however, as Ethereum suffered 18 attacks, resulting in losses of $ 636 million. But if we compare the size of the 2 blockchains, the advantage goes to ETH.

Due to its use of proof of history (PoH)Solana prides itself on its fast transaction processing, but the cryptocurrency industry has expressed doubts about the overall security of its blockchain.

💎 Open a free account to invest in cryptocurrencies!

CoinHouse allows you to easily invest in cryptocurrencies. Creating an account is free and takes only a few simple steps.

📈 Exchange cryptocurrencies online in just a few clicks!

BitPanda allows you to easily trade cryptocurrencies online. Creating an account is fast, free and very simple.

Be vigilant and consult your financial advisor before making any investment decisions. Mirror-Mag cannot be held responsible in case of bad investments. Before using any third party service, you should do your research.

Almmaye
Almmaye’s latest articles (see all)





Leave a Comment