Ethereum Rival Solana Raises $314 Million in Private Token Sale

[Churphans]

Solana Labs raised $314 million in a private token sale, making it the fourth-highest fundraising in the crypto ecosystem. The private funding round was led by Andreessen Horowitz and Polychain Capital, with participation from Alameda Research, Blockchange Ventures, and CMS Holdings.Solana blockchain is often compared against Ethereum blockchain because of its smart contract usage and matching functionalities and is quite popular for its dApp ecosystem that was popularised by Ethereum blockchain. At present Ethereum can process about 15 transactions per second while Solana can process 1,000 transactions every second. Ethereum currently works on Proof of work and will be moving to Proof of Stake in two years.source