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

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 language do you program to create dApps on Solana?

Javascript

Solidity

C++, Rust

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