Solana vs. EVM Mini Quiz
What is Solana?
Layer 1 Blockchain that focuses on hosting scalable and decentralized applications. It’s focused on transaction cost and speed.
Layer 2 for Ethereum Scaling
Layer 0 like Cosmos
A Database
Which are the major EVM chains?
DOGE, ENS, DAI
Avalanche, Binance Smart Chain, Fantom Opera, and Polygon
Cosmos, Polkadot, Sui
What makes a chain EVM compatible?
Founders
Programming Language and Smart Contract
Vision and Mission
Community
What consensus mechanism do EVM chains use?
Proof of Work
Proof of Helpfulness
Proof of Human
Varies
How does Proof of Work/ Stake work?
Proof of Stake (POS) uses randomly selected miners to validate transactions with X amount of token held. Proof of Work (POW) uses a competitive validation method to confirm transactions and add new blocks to the blockchain
Magic
Proof of Stake (POS) chooses people based on their looks, Proof of Work (POW) chooses people based on a strength of competition
What consensus mechanism(s) does Solana use?
Proof of Work
Hybrid, Proof of History and Proof of Stake
Delegated Proof of Stake
It’s not a blockchain
How does Proof of History/Stake work?
Proof of Stake (POS) people who solve complex problems the fastest get rewarded; Proof of History (POH), people who read the most history and solve problems get rewarded
Proof of Stake, you eat steak and are randomly selected to validate; PoH, AI randomly chooses somebody based on their on-chain credentials.
What is Solana’s focus in terms of the Blockchain Trilemma?
Scalability
Security
Decentralization
All of the above
Solana is slower and more expensive than ETH or Polygon?
True
False
How fast is it to transact and how much does it cost on Solana?
Speed: 50,000 transactions per second, Average Cost per transaction: $0.00025
Speed: 1 transaction per second, Average Cost per transaction: $100
Speed: 10,000 transactions per second , Average Cost per transaction: $1
Which are the main wallets for Solana?
Phantom, Solflare, Glow
Rainbow
Metamask
Trust Wallet
What are the common criticisms of Solana?
Expensive, Slow, Clunky
Centralized, Always Down, Owned by VCs
What is a Nakomoto Co-Efficient?
Represents the number of validators (nodes) that would have to collude together to successfully slow down or block any respective blockchain from functioning properly.
Represents the amount of NFTs needed to rug people of all the NFTs in their wallets
Represents the amount of token is in the total supply
What is Solana Nakomato Co-efficient?
SOL Nakomato + Validator - 1, 100
SOL Nakomato + Validator - 26, 1849
SOL Nakomato + Validator - 20, 1600
SOL Nakomato + Validator - 10, 800
How has Solana increased their Nakomato Co-efficient?
Staking SOL with Validators increases the amount of people that join the network
Staking SOL with Validators increases the amount of SOL in the supply
Staking SOL with Validators increases the number of people making decisions in the network which increases performances and make better decisions
What are the common criticisms of EVMs?
Fast, easy user experience, safe, cheap
Sketchy, No Use Cases, Expensive
difficult user experience, unsafe, and expensive
What niches have blown up on Solana? Why?
DeFi, DAOs, Infrastructure
NFTs, Gaming, and Social Apps, Table stakes (faster and cheaper to use + build on)
Trading, Gambling, Entertainment
What Layer does Solana operate?
Layer One
Layer 0
Layer 2
Is it possible to bring assets from ETH to SOL?
Yes
No
What language do you program to create dApps on Solana?
Javascript
Solidity
Go
C++, Rust
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