Solana vs Polygon

Solana vs Polygon

Summary: Polygon (MATIC) is a better blockchain than Solana based on network adoption, monthly active users and overall scalability.

Solana has had several hacks, periods of network downtime and other adverse events that make it a relatively insecure chain compared to Polygon network.

Table of Contents

Platform Highlights

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Audited Proof of Reserves
Audited Proof of Reserves

Solana and Polygon Overview

Solana and Polygon (formerly known as Matic) are both blockchain platforms, but they have different design goals and use cases.

Solana is a high-performance blockchain platform that aims to provide fast and cheap transactions for decentralized applications (dApps). It uses a novel consensus algorithm called Proof of Stake Time (PoST) which allows it to achieve high transaction throughput. Solana is also designed to be highly scalable and can process up to 65,000 transactions per second.

Polygon, on the other hand, is a modular blockchain platform that aims to provide a simple and secure infrastructure for building and deploying dApps on Ethereum. It is a layer 2 scaling solution for Ethereum, which means that it sits on top of the Ethereum blockchain and enables faster and cheaper transactions by moving some of the transactions off-chain. Polygon also uses a unique consensus mechanism called "Proof of Stake (POS) Chains" which has ability to handle high volume of transactions.

In summary, Solana is built to be a standalone high-performance blockchain, while Polygon is built to scale Ethereum and provide a simpler infrastructure for building dApps on Ethereum. You can continue reading for a detailed breakdown of both networks.

Polygon vs Solana Image
Network Validators 20 100
Block Time 0.4 seconds 0.2 seconds
Consensus Mechanism Proof of Stake (POS) Proof of Stake (POS)
Scripting Language Rust Solidity
Transaction Fees $0.0001 $0.0001
EVM Compatible Solana EVM Image
Decentralized Image Image
DeFi Ecosystem Solana DeFi DeFi Polygon
GameFi Ecosystem Solana GameFi GameFi Polygon
Overall Rating Image Image
Website Visit Solana Visit Polygon

Solana vs Polygon: User Experience

Solana has a significantly worse user experience than Polygon because they are not an Ethereum Virtual Machine (EVM) compatible network. This means it is incredibly difficult to bridge tokens to Solana from other popular networks like Avalanche, Fantom, Optimism and more.

Polygon users can seamlessly move between EVM compatible networks for low fees. This makes it easy and cheap to capitalize on incentive programs that happen on new networks like NEAR, Aurora or Optimism.

Solana vs Polygon: Tokenomics

Solana and Polygon have very similar tokenomics to most Proof-of-Stake blockchains. In order to secure the network, both Solana and Polygon need to pay out inflationary rewards to incentivize stakers to validate the network.

Solana currently has an 8% inflation rate and Polygon has a 10% inflation rate, which means Polygon (MATIC) mints more tokens every year. Both networks pay out an average staking rate of 8% - which means that Solana has better tokenomics. This is because you don't lose purchasing power when staking your tokens as the inflation rate and the payout are even.

SOL vs MATIC Tokenomics
Solana and Polygon Tokenomics data via Messari.

Is Solana or Polygon better for DeFi?

Solana currently has more 'Total Value Locked' than Polygon with $5.5B compared to $3.8B locked on DeFi applications. With that said, we believe that Polygon (MATIC) provides a better user experience for investors looking to get access to yields on stablecoins and other tokens.

Polygon has a wide variety of applications like AAVE, Curve, QuickSwap and Stargate that make it easy to earn up to 10% APY on stablecoins. If you want to find the best stablecoin yields in crypto, check out our AVAX stablecoin yield guide.

Solana vs Polygon DeFi TVL
Solana vs Polygon DeFi TVL data via DefiLlama.

GameFi and NFTs

When it comes to NFTs, Solana provides a superior experience compared to Polygon (MATIC). This is due to their recent integration with OpenSea, which allows users to buy, sell and trade SOL native NFTs through their platform. Polygon is also integrated with OpenSea, but their NFTs trade hardly any volume.

With respect to games and GameFi, both networks boast a wide variety of games. Solana has AAA games like Aurory and Neopets, while Polygon has popular crypto games like Crypto Raiders and Crypto Unicorns.

For more information, read our guide on Solana NFT Marketplaces.

Final Thoughts: Polygon Wins

Overall, we think Polygon (MATIC) is better for investors & for DeFi users. Their network is easy to use and most importantly is compatible with other EVM chains making it very easy to bridge between networks.

Polygon is also an Ethereum Layer 2, which means popular applications like AAVE and Curve are deployed on their platform. These are the safest and best DeFi applications to earn yields on USDC, USDT, MATIC, ETH, WBTC and other popular cryptocurrency tokens.

Karen Tren

Full-time writer and cryptocurrency newbie! Learning about NFTs, DeFi and GameFi with my research and writing for BuyBitcoinBank.

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