General Questions❓

1️⃣ What is Ethereum?

Ethereum is the first programmable blockchain, which enables developers to build dApps using its general-purpose smart contracts feature. 

Ethereum was built with the intention of being everything to everyone and serving a broad range of specialised applications. And that is precisely what it does.

The Ethereum blockchain can also be used forNFTs and DeFi apps.

2️⃣ What is Solana?

Solana was created to solve the scaling challenges faced by the Ethereum blockchain. This is due to the increasing interest in crypto and the bandwidth limitations that limit transaction throughput for anyone who wants to use a particular blockchain. Solana uses clever technical tricks to find convincing solutions to problems that are not being solved by other blockchain platforms.

Main differences ≏

Despite there are a lot of differences that can be analyzed between both blockchains, the main topics that are generally discussed are:

• Market cap
• Technology
• Transaction fees and speed
• NFT ecosystem
• DeFi Apps projects

Dashboard analysis 🧐

Thus, this dashboard aims to analyse one topic that is currently on the table which is the NFT ecosystem between both of them. Which blockchain is more suitable for NFT buying, selling or minting? This dashboard will try to answer this topic question through different parameters.

At first sight ETH seems to be the best blockchain for NFTs due to its security, smart contract capabilities and its transition to PoS which will make one of the cheapest and fastest networks soon.

Nevertheless, Solana is the best alternative to ETH due to its market cap, its scalability and the current transaction fees and speed.

Approach & Methodology 🔡

In order to achieve the main goals of this dashboard, it will be analysed the last two months of the following:

1. NFT Daily Volume (each blockchain)
2. Number of unique users per blockchain (in the NFT ecosystem)
3. Collections distribution on each blockchain
4. Top holders activity (observe if the ecosystem is too centralised or distributed).
5. NFT project activities - see which one of the blockchains is generating newer NFT project features since August.

COMPARISION

Observations 👀

Regarding Volume, Users and NFT Collections:

• In terms of sales volume and unique users, Solana has lower values than Ethereum blockchain.
• At the start of September Solana raised its numbers regarding volume and unique users, even some days Solana has overpassed the numbers of users to Ethereum blockchain.
• Both blockchains are suffering a decrease during the last part of this month.
• Since august, Ethereum has accumulated 2.34B$ and 1.39M of unique users while Solana has accumulated 214.9M$ and 0.925M of unique users.
• So, the differences of volume between both blockchains are more significant than the difference of unique users during these last two months.
• The Top NFT projects by sales are better distributed in Ethereum than in Solana (Two SOL projects are achieving more than the 50% of the sales volume of the top NFT projects).
• Top 3 Ethereum NFT projects by sales are:
  • Girls Riding Things
  • Moonkys
  • Cool Cats
• Top 3 Solana NFT projects by sales are:
  • ABC
  • Degods
  • Okay Bears

Regarding Top Wallets and new projects:

• The Solana and Ethereum blockchains are home to the whales that are most active.
• Most of the priciest NFTs and wealthiest whales may be found on the Ethereum Network. Thats why Ethereum comes first on volume and there is a large and excessive difference volume between chains.
• As it can be observed in the last visualization, Solana is more focused on NFT activity than Ethereum as it shows more new projects for the blockchain.