With over 84 million users this month, Solana is on a record-breaking run of adoption. However, this network activity boom exacerbates its most pressing issue: congestion.
Multiple projects are working on solutions, with one being Solaxy ($SOLX), which is building Solana’s first-ever layer 2 blockchain. The project is undergoing a presale and has raised over $33 million so far, making it the largest Solana presale ever.
Meanwhile, Solayer ($LAYER) is building a Solana side chain, and its price has soared 71% this month.
Although they approach things differently, both projects are working toward a shared vision: making Solana faster, cheaper, and more reliable.
Based on recent market moves, it appears that investors see substantial value in both projects, but which one is the best crypto to buy?
It’s also worth noting that prospective investors may be best served by acting fast. The Solaxy presale price will increase throughout the campaign, and favorable market conditions indicate that the Solayer price could also rise in the weeks and months ahead.
Solaxy’s security gives a technical edge
To better understand Solana’s congestion issue, imagine the layer 1 chain as a highway. There’s not much traffic at midday or midnight, so cars (transactions) can breeze through.
But suppose it’s a Friday evening at 6 PM, everyone’s trying to get home and cars are at a dead-stop. This is essentially what happens on Solana. In times of peak activity, there isn’t enough validator power to compute all transactions, leading to longer wait times and sometimes transaction failures.
Solana can process up to 6,500 transactions per second (TPS), but things start to break when it exceeds that limit.
Both Solaxy and Solayer have a similar idea: they’ll handle some of Solana’s transactions on a separate blockchain. Solaxy will use roll-up technology to compute transactions at a faster rate than Solana, and Solayer will use RDMA and dedicated networking hardware.
But what’s the key difference? Settlement. Solayer will settle directly on its own sidechain, while Solaxy will settle on Solana.
Given Solana’s economic security through Proof-of-Stake and a $74 billion market cap, it’ll be hard for Solayer to compete.
This is why Solaxy could potentially be a better investment based on fundamentals. Solaxy improves Solana’s transactional capabilities while retaining its security and permanency, providing the best of both worlds.
In comparison, settlement on Solayer is largely untested. It doesn’t offer the same security guarantees as settling on Solana would. As such, sophisticated investors may be more hesitant to take sizeable positions on the chain, leading to less adoption.
Price data indicates Solaxy holds more upside potential
It’s not just technical data that suggests Solaxy may outperform Solayer this year; pricing data paints the same picture.
Solayer has soared 150% since launching on CoinMarketCap and 71% this month. Its market capitalization is $572 million, so a 10x gain would take it to over $5 billion.
While not impossible, there are less than 25 cryptocurrencies with a market cap of that stature.
In comparison, Solaxy is currently available at a much earlier stage in its life cycle and so could present an easier path to achieving big gains.
As to how far it could go, expert predictions range from 10x to 100x gains. For instance, Jacob Bury recently told 99Bitcoins’ YouTube viewership that the project is poised for a 10x.
Meanwhile, other analysts such as ClayBro and Miles G have gone further and predicted 100x gains.
Last chance to buy $SOLX presale at $0.001716
Both Solaxy and Solayer are promising projects that tackle Solana’s most pressing issue. But for investors seeking the most upside potential, Solaxy may be a smarter bet.
However, the $SOLX price will increase throughout the presale, with the next uptick in under two days. This means that prospective investors shouldn’t wait around to get involved.
You can also stake tokens during the Solaxy presale and currently earn a 121% APY. But these rewards will decrease as the staking pool grows, further incentivizing early investors.
Follow Solaxy on X or join its Telegram for updates. Alternatively, visit its website to buy and stake tokens.
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Maisie is an experienced Crypto & Financial news journalist, having written for Moneycheck.com, Blockonomi.com, Computing.net and is Editor in Chief at Blockfresh.com
