Ethereum vs Solana vs Polygon – The Detailed Comparison

Ethereum vs Solana vs Polygon – The Detailed Comparison


With every passing day, blockchain technology is proving to be the Gen Z of what the Internet has been when it was first introduced to the world. Out of the various technologies worked upon today, blockchain technology has made its mark. Why so? It is because Blockchain has been the ‘talk of the town’ at this moment. It has undoubtedly entered various segments of today’s world and has helped shape the decentralized finance sector. With blockchain opening doors to many opportunities for various applications, many new genres of technology were introduced. Starting from crypto assets to NFTs to DeFi applications, blockchain is helping the world in shaping the new future. With an increasing demand for blockchain technology, newer applications are being rolled out at a faster pace.

The applications that are being worked upon for various solutions to different use cases are being built upon different blockchain protocols available in the market. Out of the many protocols available, some of the most promising ones are Ethereum, Solana, and Polygon. All of these three blockchain technologies are the core of this deep dive. Here we will not only be looking into the three mentioned blockchain protocols but will also take a comparative analysis of them.


  • Ethereum is the more transparent blockchain that pioneered smart contracts and DApps.
  • Solana, the Ethereum killer is all set to take over Ethereum? It has a transaction speed of up to 65,000 TPS.
  • Polygon is the fastest of all three blockchain protocols with up to 75,000 TPS!


Ethereum is one of the top crypto assets within the crypto ecosystem. With a market cap of $186,101,941,070.28, Ethereum is said to be one of the most diverse blockchain protocols. It is a decentralized open-source blockchain system that has its own crypto, often termed as a native crypto, Ether. ETH not only works as a platform for numerous other cryptos but also as a platform for the execution of decentralized smart contracts.

Vitalik Buterin, the founder of Ethereum cryptocurrency described Ethereum in 2013 on a white paper along with his co-founder and secured funding for the same in a public crowd sale in 2014. The official launch date of the Ethereum blockchain was July 30, 2015. It has undergone several updates since its launch, the recent being the London Hard Fork update along with the ongoing update, The Merge. With this update, Ethereum plans to shift from its Proof of Work consensus mechanism to the Proof of Stake consensus mechanism.


The Ethereum Merge has been one of the biggest issues Ethereum has been plagued with. Since it is most popular among developers building dApps, smart contracts, and DeFi protocols – it has been plagued with network congestion and transaction fee issues. Ethereum’s transaction speeds are now much lower than some of its closest competitors and its gas fees have skyrocketed amid the surge in interest in DeFi.

But adjusting the second-largest blockchain from one system to another is an incredibly complex, multi-step process. It’s important that each decision be assessed thoroughly. Therefore, this has been in the works for quite some time and it is yet to be seen when the final version is launched onto the mainnet.

However, this new Ethereum Merge Update is slated to solve a large chunk of those problems and keep the network ahead of its competition and also reward those who have been with them along the journey and staked actual value for the Ethereum 2.0.


Looking at what Ethereum is, calls for what makes it unique to the crypto space. Here are some of the most unique features of ETH.

  • Ethereum made the development of smart contracts possible. ETH is the pioneer of the smart contract concept along with being the reason NFT could be introduced to the Crypto space. 
  • Ethereum blockchain is able to host various other crypto tokens using its ERC-20 standard. Other variations of ETH are ERC-721, ERC-1155, and ERC-1238.
  • Ethereum’s London Hard Fork update was implemented to reduce the high transaction fees and enhance its scalability.


One of the most talked about crypto tokens that have been making the best use of blockchain technology to provide Decentralized solutions to the crypto space since 2017. Often termed as the Ethereum Killer, SOL provides faster transactions than Ethereum and has been facilitating the creation of DApps in the crypto ecosystem. Solana aims to improve scalability via its Proof of History consensus mechanism along with the underlying Proof of Stake mechanism of the blockchain. 

The Solana protocol is designed in such a way that it enables the creation of a decentralized app also known as DApp via deploying smart contracts onto its blockchain. Solana aims to improve scalability by presenting a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain. 

Because of its speed and low-cost model, it is possible to verify payments sent on the Solana chain within seconds and costs an average of $0.00025. This also functions as the USP for Solana, as most of the issues surrounding crypto involve transaction fees and speed. Solana’s innovative hybrid consensus model makes it possible for both small-time traders and institutional traders to enjoy the platform equally. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.


Looking back, SOL has a nickname in the crypto world, i.e. Ethereum Killer due to its functionalities. However, what makes it unique are its features. They are:

  • SOL’s consensus mechanism is known as PoH (Proof of History) which enables every node to have its own clock and take decisions, without consulting each other.
  • The Byzantine Fault Tolerance (BFT) algorithm of Solana makes sure that a particular node failure does not impact the working of the entire system.
  • The Solana ecosystem enables multiple smart contracts to work at the same time with upto 65,000 transactions per second!


Polygon (formerly known as Matic Network) is a Layer 2 scaling solution for Ethereum scaling and infrastructure development. The project aims to create “Ethereum’s internet of blockchains”, by solving scalability issues of existing blockchains and offers developers a set of tools to build ultra-scalable and high-performance blockchains and decentralized applications (DApps).

The main aim of the Polygon (MATIC) network is to help enable developers of the multichain Ethereum ecosystem. MATIC helps in effectively transforming Ethereum into a full-fledged multi-chain system which is also known as the Internet of Blockchains. The multi-chain system that Polygon provides is of a similar nature to that of the other ones such as Polkadot, Cosmos, Avalanche, etc. The advantage of the Polygon multi-chain system is that it comes with the advantages of Ethereum’s security, vibrant ecosystem, and openness.

Polygon is also the only scaling solution that supports the Ethereum Virtual Machine (EVM), which allows different blockchains to easily exchange value and information, and eliminates the technological barriers that exist between most blockchains. Polygon blockchain can process up to 65,000 transactions per second, with a block confirmation that takes less than two seconds.


Reasoning with how Polygon’s capability to enhance Ethereum’s multi chain ecosystem makes it a unique crypto asset that can be described to have mixed qualities of both Ethereum and Solana, below are some of more such unique features that makes MATIC such an amazing asset to look at.

  • Polygon (MATIC) is a Layer 2 scaling solution for Ethereum scaling and infrastructure development.
  • It is the only scaling solution that supports the Ethereum Virtual Machine (EVM).
  • Polygon supports two types of chains – standalone and secure.


One of the major misconceptions that many novice traders often think regarding the crypto space is that the value of the asset is somehow related to the blockchain and how it performs. That is not the case. The value of the assets is completely different and in no way related to how the asset is performing in their blockchains. While you’re doing your research regarding the blockchain you will pick to make a DApp on, be assured that other than the tokenomics, the community of the assets, the use cases, and the roadmaps are the only criteria you will need to look out for. 

While Ethereum started the trend within the blockchain platforms to create NFTs and smart contracts, it also opened doors for other crypto protocols to explore the sections and provide faster and better solutions. Similarly how the well known competitors of Ethereum, i.e. Solana and Polygon were born. While Ethereum killer – Solana provides major competition to the ETH platform, Polygon is just a step behind. The SOL blockchain provides much faster transactions at a reduced cost when compared to Ethereum and Polygon. However, Polygon came up to provide faster transaction speeds. No matter how advanced Solana and Polygon are, Ethereum is still standing as the most diverse and transparent landscape for the creation of decentralized applications.

Besides the solutions all three of the blockchains provide, there are a set of Pros and Cons that comes with it. 


The Ethereum blockchain has more emphasis on features and improvements, which makes it one of the best blockchain app development platforms.The blockchain follows a stateless architecture, making it more open for developers to use according to their requirements.The placement of the validation system makes Polygon more secure.
The Ethereum blockchain is one of the most stable and efficient platforms available.Very high transactional speed. Can process upto 65,000 transactions per second.The Polygon blockchain is built to solve the scalability issue and can process upto 72,000 transactions per second.
The architecture is suitable for developers to use and build various DApps.SOL incorporates a high performance protocol, which helps the blockchain in its scalabilityThe experience of the MATIC blockchain is similar to that of Ethereum.


It is always in need of power, thus little involvement from miners is required.The hardware support needed for the Solana blockchain is costlier than most.The development happening to bring forth ETH2.0 might solve the issues that are currently being taken care of by MATIC.
The blockchain’s performance takes a toll due to high resource requirements.SOL is not decentralized enough
Less transaction speed


Launch Date201320172017
FounderVitalik Buterin and Gavin WoodAnatoly Yakovenko and  Greg FitzgeraldJaynti Kanani, Sandeep Nailwal, and Anurag Arjun
Blockchain ProtocolEthereum BlockchainSolana ProtocolEthereum Blockchain (ERC20 token)
Token TypeNativeAltcoinERC-20
Market Cap$186,101,941,070.28$15,461,085,344$7,205,508,242
Circulating Supply121,609,295.81 ETH345,608,494.95 SOL8.01B MATIC
Max SupplyNANA10,000,000,000
Consensus MethodPoW but soon to move to Proof-of-stake (PoS)Proof of History (PoH)Plasma Framework + Proof-of-stake (PoS)
ArchitectureStateful architectureStateless architectureMultichain architecture
ScalabilityLimited ScalabilityHigh-Performance protocol for scalabilityMultichain solutions offer better scalability
Transaction Speed13-15 TPS65,000 TPS72,000 TPS
Active Addresses474,457


Looking at the details of the three projects, the overall sentiment might appear similar for Ethereum, Polygon and Solana. To set these blockchain protocols apart, let us discuss the major differences between the three protocols.

Consensus Mechanism:

One of the most important factors that will be common for most of the decentralized blockchain protocols is having a consensus mechanism. The various consensus mechanisms available help in reaching an agreement on the present state of the networks. Ethereum uses the Proof of Work mechanism, which comes with the drawback of requiring a higher processing power. This drawback presents a roadblock in allowing the scope for multiple users to participate in this, although it allows miners globally to participate in the consensus. Though the processing power requirement is on the higher end, it ends up taking a toll on the performance but also helps in ensuring better security.

Polygon, on the other hand, uses a consensus, based on Proof of Stake or PoS. Users get a chance to earn MATIC tokens by taking on the Polygon network. The consensus for Polygon can be achieved faster due to the combination of technologies offered by Polygon. Now taking a look at Solana, the consensus mechanism provides an efficient operation to cater to its faster transaction speed. SOL’s consensus mechanism uses an array of computations to identify an ideal verification method of the time gap between two events. The consensus used by Solana can be called a Hybrid form of consensus as it uses the best features of PoW, PoS, and PoH, which is Proof of History. The mix of various consensus allows for more flexibility in sorting transactions which helps SOL in reaching a total of 65,000 transactions per second.

Transaction Speed:

One of the major difference between ETH, SOL, and MATIC is the transaction speed of the blockchain protocols. The speed of transactions not only differentiates the blockchains but also help developers in choosing the best protocol they need for their usage. When it comes to comparing the TPS for these three, Ethereum falls behind. ETH can incorporate 13-15 transactions per second while Solana and Polygon enable upto 65,000 and 72,000 transactions per second respectively!


The scalability of a blockchain is one of the most critical factors that the developer should look into before choosing a platform for the development of any blockchain application. The scalability factor helps in showing if the network is scalable enough to ensure the completion of the transaction needed. With Ethereum, the transaction speed is 15 transactions per second, which is less than compared to Polygon or Solana. However, Polygon’s layer 2 scaling with multichain network support helps in resolving the scalability issue. Solana can process upto 65,000 transactions in a second, due to which scalability issues are almost nonexistent in it. With SOL or MATIC users can have access to faster transaction speeds, a better consensus model along with an efficient architecture.


  • Some of the top projects built on Ethereum are Cryptokitty, crypto punks, OpenSea, Rarible, Nifty Gateway, and Decentraland. 
  • Projects that have been built based on the Solana protocol are Degenerate App AcademySolPunks, Sollamas, Solsea. 
  • Projects built on the Polygon blockchain are Plasma-Enabled Sidechain, PoS SportX, ZED RUN, Easy Fi, QuickSwap. 


Polygon (MATIC) has been having a typical value trend since the bear market started unrolling with a consistent upward trend since June. With Angel protocol’s Borrowing going live on MATIC to Polygon partnering with Nothing to enable Web3 functionality, the blockchain protocol is looking at an improvement in the prices soon.

Source: TradingView


The SOL price is on the rise since the crypto crash. The 24-hour trading volume rose to 68% at $2,415,310,493 supporting the upside move. According to expert analysts, the next attempt for the crypto asset could be aiming for a $60 trend!

Source: TradingView


Ethereum has been seeing a lot of improvements since the blockchain has moved one step closer to The Merge. With ETH transitioning from Proof of Work to Proof of Stake consensus mechanism, ETH whales have started to accumulate ETH tokens. In a recent report, on-chain analytics firm Sentiment reported that a total of 131 new whales were added to the Ethereum network in the recent weeks, alongside the recovery in prices this month. There has been an increase in the number of addresses in the range of 1,000 to 100,000 ETH. Amid the increase in the number of large holders, the Ethereum network also faced an increase in smallholders as the number of addresses holding slightly more than 1 ETH reached an ATH of 1,557,255.

Source: TradingView


Investing in crypto is super simple, safe, and secured with the CoinDCX app. It doesn’t matter whether you want to invest in Polygon, Ethereum or Solana coin, we have got you covered. CoinDCX is India’s safest and simplest crypto investment app for your one-stop purchase of any crypto asset. 

Here are the 3 simple steps to buy your first token with CoinDCX. 

  1. Sign up on CoinDCX 
  2. Link your bank details
  3. Buy (MATIC) or Solana (SOL) or Ethereum (ETH)



The main difference between Ethereum, Polygon, and Solana is the scalability of the blockchains and the transaction speed of each one.


SOL is the fastest among the three blockchains.


Solana is often termed as the Ethereum Killer because of the better functionalities of the blockchain.


There is no yes or no answer to this question. Many crypto enthusiasts are of the opinion that Polygon might be better than Ethereum due to the fact that it can offer more transactions per second and has a better scalability.

Source: Coindcx.

8 de October de 2022

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