Solana is rapidly catching up to Ethereum, generating 50% of Ethereum L1 fees in the last 90 days.
Solana outperformed Ethereum’s top L2s, generating 35% more fees over the last year.
Ethereum and Solana have been at the forefront of the blockchain ecosystem, constantly pushing the limits of what decentralized networks can accomplish. Michael Nadeau, the founder of The DeFi Report, recently discussed the performance differences between these two networks.
Ethereum fees are down 99% since March.
Yet the network has still done 7x the fees of Solana over the last year.
But how should the two networks be compared?
Should we include L2s?
And how does Solana stack up against all of Ethereum’s L2s combined?
A quick 🧵analyzing… pic.twitter.com/YICgvH3Psl
— Michael Nadeau (@JustDeauIt) September 12, 2024
Ethereum Fee Dominance and the Role of Layer 2 Solutions
According to Nadeau, Ethereum fees have dropped by an astounding 99% since March. Despite this decline, Ethereum has gener
