Why Solana is often referred to as the “Ethereum killer”
A detailed research report shows that Solana is at the top of users, developer activity and web3 adoption. Ethereum falls behind. But what makes the “Ethereum killer” so special?
The 14th edition of the quarterly crypto report of the Swiss product compartment 21share analyzed Trends, network use, technological progress and macroeconomic developments in the industry. The focus is on Solana: The high-performance blockchain dominates the first quarter of 2025 in almost all key metrics-from active wallets to NFT trade to mobile-DEFI. Ethereum remains DeFi-Leader, but is increasingly being pressed by networks with better user experience and greater scalability.
Difference between Ethereum and Solana
What distinguishes Solana fundamentally from other blockchains is the unique combination of high transaction speed (transactions per second, TPS), low fees and a monolithic architecture. In contrast to Ethereum and its Layer 2 networks, Solana runs everything on a single layer-from defi to NFTS-without bridges or fragmentation. As a result, users can interact with minimal friction, while developers can access a uniform environment.
The impressive performance is achieved by the proof-of-history (POH) consensus mechanism. This enables transactions to process extremely quickly-far more efficient than classic proof-of work or proof-of-stake models. In the test network, Jump Crypto's new FireDancer client has already reached over 1.2 million TPS-a benchmark that exceeds all existing blockchains.
Solana: The new draft horse for Web3 and Mobile crypto adoption
Solana established itself in the first quarter of 2025 as the most dynamic layer 1 ecosystem, both in terms of user activity and technological development. According to the report, Solana overtook Ethereum for the first time in the number of active wallets and at the same time dominated the NFT and Gamefi use. Particularly striking: Solana leads to Mobile Wallet Defi, which underlines the increasing importance of mobile crypto applications.
A key factor is the local fee model that allows applications such as Jupiter, Tensor or Drift to make a consistently fast and inexpensive use – regardless of the rest of the network traffic. At the same time, the new Client Firedancer from Jump Crypto brings a huge performance boost: With up to 1.2 million transactions per second in the test network, Solana is soon at a new level.
Solana also sets new standards in the UX area: the native wallet phantom convinces with cross-chain support and intuitive operation, while the web3 smartphone Saga shows how blockchain integration can look like on end devices. The ecosystem increasingly attracts developers and capital – a clear sign of long -term growth potential.
Token and institutional adoption
Despite Solana's ascent, Ethereum remains the heavyweight in the defi area. But the report shows: High transaction costs, fragmented Layer 2 solutions and complex interfaces hinder further growth. Although scaling solutions such as Arbitrum or Optimism offer certain relief, new projects are increasingly switching to Solana or alternative chains such as avalanches or SUI.
Another central topic is the growth trend at Real-World Assets (Rwas). The tokenization of traditional financial instruments gains a lot on drive-including initiatives such as Blackrock's Buidl Fund, which is already on Ethereum, as well as USDC-based treasury products from Ondo Finance on Solana. The trend points towards digital capital markets, supported by institutional interest.
