The Dapp industry has experienced rapid growth since 2020. In October 2021, more than 2 million daily unique active wallets were registered for the first time. That’s 21% more than the previous month and a 626% year-over-year increase.
Dapp are revolutionizing the way the industry works by eliminating third-party involvement in personal and business transactions. Although Ethereum currently dominates the Dapp market, it has proven to be slow and gas-costly. This has led to a demand for alternative solutions.
One of the Ethereum challenges that emerged this year was Solana Labs (SOL). Solana is the only blockchain that allows building high-frequency trading and payment processing applications. It is the fastest blockchain and the fastest-growing ecosystem right now.
Solana’s presentation at the Breakpoint conference in Lisbon showed a company that is rapidly gaining momentum. The number of active accounts has grown to 1.3 million, and 38 billion transactions have been processed. As of Nov. 16, around $13.7 billion is locked in decentralized financial projects built on Solana.
“I believe Solana is the next big thing after Bitcoin and Ethereum. That’s why I am currently buying it after the recent price drop. . . Scaling advances, such as Layer 2 rollups can bring more speed to the currently slow world of blockchain. Right now, Solana is the fastest blockchain and the fastest-growing ecosystem,” — shared Vladimir Kardapoltsev, CEO of PointPay, with Kenneth Rapoza, Senior Contributor of Forbes.
The Solana ecosystem is growing rapidly, with dozens of DeFi apps taking advantage of fast, low-cost transactions. Solana has clear leadership and proper funding to continue growing. So we are excited to see upcoming projects on the Solana blockchain, such as new payment systems, high-frequency trading bots, and other non-financial apps.
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