Cardano is doing better than Solana.
Analyst Benjamin Cowen claims Cardano is better than Solana after hackers stole funds from Solana’s network.
For some time now, there has been an ongoing debate about which of the various blockchain networks is better than the rest. The debate sometimes boils down to two networks where fans claim their favorite is the best.
However, things seem to be settling down by themselves and dramatically ending the debate between Cardano and Solana. Something has just happened to the Solana network, and it’s not good.
The competition between Cardano and Solana blockchains has been a heated thing lately. However, Solana seems to be losing the battle, especially regarding security and reliability. For one, the Cardano network has never been hacked, and neither has it ever experienced downtime as to go offline for the last five years.
On the other hand, Solana has dealt with these two issues on several occasions. The latest event occurred at the beginning of August 2022. As reported by The Crypto Basic earlier in the week, the Solana network was compromised by hacks, leading to a loss of approximately $5.8 million drained from close to 8,000 wallets. Luckily, a preliminary investigation by the Binance exchange determined that the hack didn’t affect hardware wallets in cold storage and centralized exchanges.
The most current investigations further indicate that Solana Exploit was Tied To Slope Wallet while the Blockchain itself Remains Uncompromised.
However, the unfortunate event has led to people like Crypto Quant’s Benjamin Cowen declaring Cardano way better and greater than Solana. Benjamin sent out a tweet to that effect, and Cardano lovers seem to agree with him.
— Benjamin Cowen (@intocryptoverse) August 3, 2022
Cardano Founder Charles Hoskinson recently Shooted Down the Possibility Of Collaboration With Solana and Compared It With Old Nintendo Consoles.
Solana also suffered some Network outages, Slow Transactions later year Due To DDoS Attacks.
Interestingly, the hacking incident doesn’t seem to have had much impact on Solana’s market standings. At this time, SOL is trading at around $0.5, with a 1.2% increase over the last 24 hours. The coin is still among the top 10 in the charts, sitting at position 9, right below Cardano sits at position 8.