Why Do Memecoins Developers Use Solana Blockchain the Most?

[Husires]

.and maybe And according to what I learned, Solana can process as many as 50,000 transactions per second (TPS), and its average cost per transaction is $0.00025 which is so much lower than what can cost in Ethereum which has 1.001 USD/tx for Jul 25 2024.

Solana claims to be able to process thousands of transactions per second but when tested it failed and the network went down while Ethereum has been running without interruption for years.

Transaction fees are where Solana outperforms Ethereum.

[Fivestar4everMVP]

.and maybe And according to what I learned, Solana can process as many as 50,000 transactions per second (TPS), and its average cost per transaction is $0.00025 which is so much lower than what can cost in Ethereum which has 1.001 USD/tx for Jul 25 2024.

Solana claims to be able to process thousands of transactions per second but when tested it failed and the network went down while Ethereum has been running without interruption for years.

Transaction fees are where Solana outperforms Ethereum.

Well, Etherum is definitely not just a first runner, but also one of the very best and strongest blockchain in the entire crypto space, though the only downside of using ethereum to build is that you are going to miss some potential investors who are not able and or willing to spend hefty amount of money on onchain transaction fees.

Personally, I love Etherum chain even though I stopped transacting on it like several years ago when the hike in transaction fees become a norm. Right now, I feel the best blockchain to build on is Ton blockchain, though Solana seems to be still cheaper, but Ton blockchain is way very stronger and still cheaper than Etherum.

[Mr. Magkaisa]

     -     Is it okay here in this forum to post crypto wallet addresses just to receive airdrops, as mentioned here? Maybe later it will be banned like the other forum that is prohibited.

Can I just send my Sol address to your inbox and don't post it here in the announcement you made on this matter, just to keep my account safe and also for other participants?

[Crwth]

I think it’s because of The first Memes that built on it Have attracted the meme factor. And then continuous Memes come up because a lot of people have Created their own. Maybe because it is cheap as well.

[Smcchamp]

.and maybe And according to what I learned, Solana can process as many as 50,000 transactions per second (TPS), and its average cost per transaction is $0.00025 which is so much lower than what can cost in Ethereum which has 1.001 USD/tx for Jul 25 2024.

Solana claims to be able to process thousands of transactions per second but when tested it failed and the network went down while Ethereum has been running without interruption for years.

Transaction fees are where Solana outperforms Ethereum.

Oh I see. Easily accessible to meme developers I guess plus the low fees too. I see. It appears mongy is the new Solana meme under 100m that's about to go bonkers due to whispers from CT. Bitget warning  )/events/poolx?languageType=0]MONGY Poolx[/url] ill use that as an entry point since its low risk farming.

[MrSpasybo]

I think it’s because of The first Memes that built on it Have attracted the meme factor. And then continuous Memes come up because a lot of people have Created their own. Maybe because it is cheap as well.

A few memecoins, such as BONK and BOME, have found success on Solana, making Solana, with its high speed, low fees, and vibrant community, the preferred ecosystem for memecoin projects. Memecoins don't require complex technology or solutions, they only need a good story to tell investors, and therefore often target less discerning investors on Solana.

Paying just a few cents in transaction fees and spending a few dozen $ to own thousands or millions of memecoins becomes easy for investors in the Solana ecosystem. I think this is the main reason why memecoins have exploded on Solana and continue to drive the ecosystem's vibrancy.

[Hamza2424]

This is not the case of always, just a couple of months ago this era started, SOL is cheap and fast, also after a great pump in the meme of SOL, developers started spamming the blockchain just out of greed, and many became somehow successful and maximum got dropped out. Meme still has a lot of potential, the trend of official blockchain-supported memes is great but for SOL it's already cashed out with BONK. Make sure to avoid the new meme projects even though there's a huge reward possibility but you should know rug pull in meme is very often.

[gunhell16]

Solana Network is the way to bring the noise of meme coins to life in the crypto space we live in right now. And in addition to that, it's very cheap for the developers to make meme coins; it's like less than $5  to make meme coins using the Sol blockchain.

Isn't it just recently that Pump.fun has become a hotbed for making meme coins that cost less than $1? You have your own meme coins, and many people have gotten rich there just recently. That has been exploited by hackers, and because it is no longer trusted, Pump.fun has created another platform that is still similar to Pump.fun, only the name has changed.

[alogan]

Solana was and still being a huge competitor for Ethereum, with FTX colapse wich had manipulated SOL value, and had a huge stake into it, we saw it crash like a shitcoin, wich never was, despite the FTX bad management.  Solana has atracted whales into their chain, with "POINTS" feature, requestiing people to deposit crypto, similiar to Base chain. Whales always control the markets, and everyone wanna be where the money is at.

[MrSpasybo]

Solana Network is the way to bring the noise of meme coins to life in the crypto space we live in right now. And in addition to that, it's very cheap for the developers to make meme coins; it's like less than $5  to make meme coins using the Sol blockchain.

Isn't it just recently that Pump.fun has become a hotbed for making meme coins that cost less than $1? You have your own meme coins, and many people have gotten rich there just recently. That has been exploited by hackers, and because it is no longer trusted, Pump.fun has created another platform that is still similar to Pump.fun, only the name has changed.

Although I don't like memecoins, I'm glad they're generating more transactions on Solana, meaning more SOL will be burned and the inflation rate will decrease, preventing selling pressure from rising too quickly. Memecoin investors will face risks while SOL holders will indirectly benefit from the trading activities of memecoins within the ecosystem.

I wish the hype around memecoins would shift towards DeFi or GameFi activities on Solana. These trends would bring more real value to the market, including widespread adoption and a large inflows in the long term, enough for the entire Solana ecosystem to grow rapidly as it did during the bullrun 2021.

[Doan9269]

Developers will always consider some factors in place that will help them achieve their target results if they are launching the coin and are planning to reward their participants according, some of them will first look into the trend of the particular network, their acceptability on the crypto network, their network fee and how fast and reliable the network is as well before making a conclusion on using it.

[vegasus]

A search on Dex screener will show that most of the recently developed Memecoins are built on Solana. Aside from cheaper gas fees. What's driving the level of interest with Solana Memecoins?

The thing that usually becomes one of the main factors of meme coins is relying on their hype. And right now, the network that is quite hype is the Solana network, so many developers are taking advantage of this moment to use the Solana network as their choice.

Just look, there are also several meme coins that were previously created on the Ethereum and BSC networks. And now is the time for the Solana network. And maybe the TON network will follow.

[TomPluz]

Solana claims to be able to process thousands of transactions per second but when tested it failed and the network went down while Ethereum has been running without interruption for years. Transaction fees are where Solana outperforms Ethereum.

Yes, I think it all boils down to the transaction cost and of course the hype surrounding Solana, that is why it is getting the limelight even away from Ethereum. I am not sure if the cost or fees will go down a lot in Ethereum if there can be a big boom on the Ethereum side. Anyway, though I am not a big fan of memecoins as I understand the risks and rewards possible, we are still thankful with the memecoin frenzy happening right now in Solana as it catapult more business to the cryptocurrency industry.