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Solana (SOL) is the layer 1 chain with the most exciting technology right now, and Pyth Network (PYTH) could be the oracle to rule them all.
The race for technological supremacy in the crypto ecosystem is certainly not over, and as with any new technology there will be dark horses that have the potential to overtake those leading.
Ethereum still problematic
In the rather large niche of layer 1 blockchains bitcoin is the unassailable leader, but it occupies the sub-niche of a store of value. Ethereum is the second ranking of the layer 1s, and is vying for what is potentially the biggest slice of the cake, in becoming the base layer for most of the digital applications that will be built on top.
However, it is well known that Ethereum has scaling problems, and that layer 2s are needed in order for it to come anywhere near the performance required by the market.
Super-fast Solana rising fast
On the other hand, Solana leaves Ethereum for dead when it comes to speed of transactions, and having recently announced the development and impending launch of its Firedancer validator client, Solana could conceivably be capable of matching the transaction speeds of the world’s biggest stock markets, such as the Nasdaq.
Source: Trading View
$SOL is currently holding support at $58. The next major resistance comes in at around $78.
Pyth network – the new king of the oracles?
Pyth Network is the oracle for the Solana system, but not only that, it also has 350+ price feeds across 35+ supported blockchains. With its far greater speed, accuracy, and lower latency, Pyth Network leaves the likes of Chainlink (LINK), the oracle for the Ethereum ecosystem, in the shade.
Source: Trading View
The $PYTH token has only just been released and is already making big gains for holders. After an airdrop $PYTH was released on a few exchanges at $0.65. After the usual selling of an airdrop the price has quickly recovered to $0.53.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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