Is Solana a Layer 1 or 2 blockchain when it’s built on top of Ethereum?
I’m not quite sure how to explain the relationship (or competition) between Solana and Ethereum.
To post an answer, please !
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Solana is a separate blockchain, not built on top of Ethereum. So it's a proper layer 1 blockchain with it's own network of validators that produce blocks. Solana and Ethereum are two of the alternatives to choose between for every project that wants to make NFTs. Ethereum has bigger market share, more users and developers and is considered to be more decentralized than Solana. Solana on the other hand has reduced gas costs compared to Ethereum. In the end it's up to each project to decide what factors are most important for them and their community.
Solana is another Layer 1 much like Ethereum. There are a bunch of well known layer 1 chains out there. Bitcoin for instance, we have Binance Chain, Avalance and so on. My advise is if you wanna dig deep more into each chain, visit their respective websites.
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