Solana vs. Cardano: Which Is the Better Buy?

Solana vs. Cardano: Which Is the Better Buy?

Fool.com editor Eric Bleeker, The Motley Fool’s Lead Crypto Advisor Bernd Schmid, and Fool.com contributor Chris MacDonald discuss the bull case behind Solana (CRYPTO:SOL) and Cardano (CRYPTO:ADA) and which crypto may come out ahead in the end. This clip from “The Crypto Show” on Backstage Pass was recorded on Nov. 4.

Eric Bleeker: So let’s move onto Solana.

I know there’s a ton of interest. I feel like every week we’ve got a lot of questions about Solana. The returns are definitely there. It is up probably at this point 150-folding past year. It is seeing a lot of traction, especially in the NFT space.

As I note on this light it is now the fourth-largest cryptocurrency it has passed Cardano as of before the show, is valued at $72 billion. Popular NFTs on the platform have brought a lot of interest, but in total, it promises much higher transactions per second. Then competing blockchains, it is at stated goals right now more than 10,000 folds higher volume than Bitcoin itself can process. Also cheaper transactions.

If you’re looking to purchase an NFT through Ethereum (CRYPTO:ETH) and you’ve got gas fees of $100 and Solana’s fractions of a center or whatever it might be right now, you can see why this is appealing to the broader space.

I think some Solana’s truly fascinating to talk about because it definitely shows the speed at which technology is moving into space. It takes a radically different approach than other blockchains. Maybe we could just talk about Solana. Where do you even start wrapping your head [laughs] on this kind of project? [laughs]

Bernd Schmid: You introduced it so well already and interesting that it overtook Cardano because Solana really has made progress.

Actually I know where to start because they do something like I say, radically different than other blockchains, at least according to my understanding, and that’s something I also one of these many things that I want to understand really better. It was actually a communications engineer who came up with this, who conceived this idea. He thought the problems that blockchain have or that they try to solve is very similar to the problem that the communication networks, like a cellular network needs to solve. It’s like having these many mobile phones, cellphones, communicating through a single tower, access the same frequency band, and so on. This is where it came from, and then he design something based on actually co-communications networks work for blockchain.

I’m not sure if he calls it that way. But in the white paper that they wrote, they call it proof-of history. That’s essentially an algorithm that makes it possible, according to my understanding, for not having the distributed nodes like normally in the blockchain you have several nodes, it can be tens of nodes or hundreds of thousands or even more nodes which all want to produce blocks to the blockchain and validate. They need to communicate with each other.

What Solana with this proof-of history has apparently achieved is, that this competition happens on a single entity which needs to do this, and there doesn’t need to be a communication happening between those nodes to process this and this makes it really fast to process these transactions.

Apparently, the security isn’t suffering from that. This proof-of history algorithm that I try to introduce, it actually comes before consensus is being built in the network.

I don’t understand yet exactly how these things interact, but it’s essentially you have to distribute a network of nodes, but on a singular one you can’t compute, the next transaction to say, and this makes it really fast. Also but that’s designed, they get a level deeper. It is designed in a way that actually the hardware that needs to or process these transactions then it has high requirements, much about the exact numbers, but I think you need to have 120 gigabytes of RAM, random access memory to run such a node quite a big hard disk space and computing power as well in other networks, it’s not like this. Actually due to that also a bit less, potentially significantly less de-centralized than others.

But it comes at this immense benefit of this incredible speed that this network already offers today.

Eric Bleeker: Just one note, I just wanted to go through a few quick questions. One Gator tells us that he uses uphold for Theta (CRYPTO:THETA). Thank you for that one Gator. Marco adds, blockchain capital is a big venture firm than less in multiple start-ups, the big money. I just wanted to get those through since it was off our most recent conversation.

Now, Chris, we introduced two weeks ago five of your favorite cryptocurrencies and you had both Cardano and Solana on them. I’m going to intentionally cause a little conflict here because it makes a little more interesting. Bernd, I think your view is you specifically prefer Cardano over Solana. Chris, what would be your argument for maybe investors who are looking for Ethereum alternatives to own both of these?

Chris MacDonald: I think like Bernd said, there’s a reason why Solana has passed Cardano, it probably deservedly, I think touching on the proof-of history piece is really important, in how Solana is able to have the speed that it does and be able to theoretically process more transactions than Visa (NYSE:V) at a given point in time per second is incredible. At a fraction of a second, like you mentioned, Eric.

The speed and cost functionality of Solana has really given it a leg up. Maybe just to build a little bit on what Bernd was saying about the proof-of history as I understand it, when nodes are validating blockchains, they need to do it in an order.

What Solana has done is introduced timestamps to the equation. When 1,000 transactions are put forward, there’s an exact time of when each one was put in, so there’s no wait with regard to well which one was submitted first so the nodes can just process them in order. That is an absolute incredible innovation in the space. It’s likely to be copied in the future, but Solana is the leader.

I think you mentioned that the various de-centralized applications that are built on top of Solana right now like the Solana NFT Marketplace, is just taking off and there’s a reason for that. In addition to the NFT space, there’s so many other opportunities that Solana opens up relative to the market. Right now it’s among the fastest and cheapest blockchain networks out there, so that’s a big competitive advantage.

I think there’s a reason to be bullish on both Cardano and Solana, but there’s a strong argument to be made that Solana can go much faster and much higher.

Eric Bleeker: What would be the argument in your opinion then for Cardano, just because I was a very great bullish description of Solana itself, but I’m just curious what the pros for Cardano would be in your comparison.

Chris MacDonald: I think Cardano is interesting to me in how the network scales. Cardano is interesting in that it allows for more nodes as the network grows, which allows for essentially the blockchain gets trumped up into smaller pieces, and each, as the blockchain grows.

In theory, Cardano can scale up and accelerate it’s speed. Both are extremely fast in that regard. I think the argument that can be made with Cardano is it’s the interoperability of the network. It’s able to communicate with other blockchains using the KMZ side gene protocol. That’s interesting because more crypto projects are being built across various blockchains.

We’re moving, I think from a siloed crypto world to more of an integrated one, so Cardano is more of the leader in that space and so there’s really solid arguments to be made for both for sure.

Rare Society steakhouse expands to Solana Beach

Rare Society, a Las Vegas-style neighborhood steakhouse operated by San Diego’s Trust Restaurant Group, opened Nov. 1 in the Cedros Design District of Solana Beach.

The 2,800-square-foot restaurant-bar joins the original Rare Society, which opened in Hillcrest in November 2019. The new location offers the same culinary program developed by TRG owner and chef Brad Wise. The steak menu features premium and dry-aged American beef cuts and Australian wagyu served with house-made sauces, raw and grilled seafood, salads, Parker house rolls with truffle butter, sides and desserts.

Colin Berger’s cocktail program features dry-aged, fat-washed bourbon and garnishes like bacon and” wagyu-bourboned” cherries. Wine director Ben Zuba has created a list of nearly 100 wines from the West Coast, Italy and France.

The restaurant at 330 S. Cedros Ave. has indoor seating for 72, including an 18-seat indoor/outdoor bar, and patio seating for 20. It opens at 5 p.m. Wednesdays-Sundays. Lunch and happy hour service will be added early next year. Visit raresocietysd.com.

Pam Kragen writes about restaurants for the San Diego Union-Tribune. Email her at pam.kragen@sduniontribune.com.

Weekly Crime Reports: Encinitas, Del Mar, Solana Beach

San Diego County Sheriff’s North Coastal Station incident reports from Nov. 4 to Nov. 14. All arrestees within these reports are presumed innocent.

Sheriff’s deputies responded to a call for felony fraud at 2:34 p.m. on Nov. 4 at Mil Cumbres, Solana Beach. The male victim, 45, reported stolen personal identifying information.

Hermelindo Solis, 35, was arrested at 7:35 p.m. on Nov. 8 at Stevens Ave., Solana Beach, and booked at San Diego Central Jail on suspicion of felony vandalism and misdemeanor obstructing peace officers. Two victims, a female, 70, and a male, 50, reported damaged two automobiles valued at $1,000 and windows valued at $500.

Sheriff’s deputies responded to a call for felony burglary, a vehicle at 10:33 a.m. on Nov. 8 at Santa Fe Drive, Encinitas. The female victim, 55, reported stolen cash ($250), a blue purse ($40), a black wallet ($25), a pair of eyeglasses ($10).

Helio Faraco, 56, was arrested at 8:27 p.m. on Nov. 8 at Carol View Drive, Cardiff by the Sea, and booked at Vista Detention Facility on suspicion of a misdemeanor DUI.

Cesar Gonzalez, 33, was arrested at 12:45 a.m. on Nov. 8 at Via De La Valle, Solana Beach, and booked at San Diego Central Jail on suspicion of misdemeanor being drunk in public.

Eric Christensen, 39, was arrested at 1:21 a.m. on Nov. 8 at Vandergrift Blvd, Oceanside, and booked at Vista Detention Facility on suspicion of a felony violation of parole.

William Ledbetter, 46, was arrested at 5:14 p.m. on Nov. 8 at Camino Del Mar, Del Mar, and booked at Vista Detention Facility on suspicion of felony grand theft. The male victim, 60, reported stolen miscellaneous tools valued at $2,500.

Sheriff’s deputies responded to a call for felony burglary, a vehicle at 7:47 p.m. on Nov. 8 at Manchester Ave., Encinitas. The female victim, 58, reported stolen intangible personal identifying information ($628), a pink Coach purse ($400), a pair of maroon Salt sunglasses ($200) and three ID cards ($27).

Sheriff’s deputies responded to a call for felony burglary, commercial at 3:53 a.m. on Nov. 8 at Lomas Santa Fe Drive, Solana Beach. The victim, a store, reported stolen miscellaneous clothing ($180) and items ($150).

Sheriff’s deputies responded to a call for felony burglary, commercial at 4:57 a.m. on Nov. 8 at La Gracia, Rancho Santa Fe. The male victim, 48, and the female victim, 47, reported stolen a silver pickup truck valued at $15,000, a silver Stonewell Swift utility trailer ($15,000), a black motorcycle ($10,000), miscellaneous tools ($5,000) and a red motorbike valued at ($2,000).

Sheriff’s deputies responded to a call for felony burglary, commercial at 8:56 a.m. on Nov. 8 at La Gracia, Rancho Santa Fe. The victim, a company, reported stolen a white Fiesta automobile ($10,000), a white car ($6,000), four SanSung computers ($1,200), two keys ($200) and a credit card.

Sheriff’s deputies responded to a call for misdemeanor fraud at 3:20 p.m. on Nov. 8 at Stratford Knoll, Encinitas. The female victim, 64, and the male victim, 63, reported stolen cash valued at $500.

Sheriff’s deputies responded to a call for misdemeanor vandalism at 8:07 a.m. on Nov. 9 at Melba Road, Encinitas. The female victim, 43, reported damaged a silver van ($4,000).

Ron Moore, 67, was arrested at 9:22 p.m. on Nov. 9 at Camino Del Mar, Del Mar, and booked at San Diego Central Jail on suspicion of misdemeanor being drunk in public.

Sheriff’s deputies responded to a call for felony vandalism at 8:14 a.m. on Nov. 9 at Olympus St., Encinitas. The female victim, 51, reported damaged a white automobile valued at $1,000.

Sheriff’s deputies responded to a call for felony burglary, commercial at 9:43 a.m. on Nov. 9 at Santa Fe Drive, Encinitas. The victim, a store, reported stolen cash ($4,980).

Nathen Gabriel, 57, was arrested at 12:43 a.m. on Nov. 9 at Jimmy Durante Blvd, Del Mar, and booked at San Diego Central Jail on suspicion of misdemeanor being drunk in public and battery on a person. The male victim, 59, reported no injury.

Sheriff’s deputies responded to a call for felony grand theft, a vehicle at 9:11 a.m. on Nov. 10 at Ocean St., Solana Beach. The female victim, 32, reported stolen automotive parts valued at $2,000.

John Morrison, 37, was arrested at 11:01 p.m. on Nov. 10 at Encinitas Blvd., Encinitas, and booked at Vista Detention Facility on suspicion of a misdemeanor DUI.

Sheriff’s deputies responded to a call for felony burglary, residential at 10:01 p.m. on Nov. 10 at Sea View Ave., Del Mar. The male victim, 80, reported stolen two miscellaneous items valued at $1,500.

Sheriff’s deputies responded to a call for misdemeanor petty theft, a shoplift at 2:07 p.m. on Nov. 10 at N. El Camino Real, Encinitas. The victim, a store, reported stolen cosmetic items ($579).

Suzanne Steinmeier, 40, was arrested at 3:05 a.m. on Nov. 10 at Coast Highway, Encinitas, and booked at Vista Detention Facility on suspicion of a felony agency warrant.

Eric Becerra, 39, was cited and released for misdemeanor an active warrant at 7:11 p.m. on Nov. 10 at Buena Creek Road, Vista.

Justin Heinrich, 35, was arrested at 12:23 a.m. on Nov. 11 at South Coast Highway 101, Encinitas, and booked at Vista Detention Center on suspicion of a felony battery with bodily injury. The female victim, 33, reported an apparent broken bone.

Christopher Buckland, 36, was cited and released for misdemeanor possession of controlled substances and paraphernalia; Stephen Sieber, 46, was cited and released for felony violation of parole at 5 a.m. on Nov. 11 at Neptune Ave., Encinitas.

Sheriff’s deputies responded to a call for felony burglary, a vehicle at 1:10 p.m. on Nov. 11 at Birmingham Drive, Encinitas. The female victim, 57, reported stolen a black Coach umbrella ($30).

Sheriff’s deputies responded to a call for felony fraud at 2:48 p.m. on Nov. 11 at Raintree Drive, Encinitas. The female victim, 53, reported stolen intangible personal identifying information ($1).

Brooke Fierro, 27, was cited and released for misdemeanor shoplift, obstructing peace officers and possession of controlled substance paraphernalia at 3:53 p.m. on Nov. 11 at North El Camino Real, Encinitas. The victim, a store, reported stolen a bag ($149) and thirteen miscellaneous items valued at $212 that were recovered later.

Brooke Fierro, 27, was arrested at 3:53 p.m. on Nov. 11 at North El Camino Real, Encinitas, and booked at Vista Detention Center on suspicion of felony an agency’s warrant.

Sheriff’s deputies responded to a call for felony burglary, residential at 1:38 a.m. on Nov. 11 at Sea View Ave., Del Mar. The male victim, 68, and the female victim, 67, reported stolen miscellaneous gold jewelry ($50,000), a silver necklace ($40,000), a Swiss gold watch ($13,000), cash ($6,000), damaged windows ($1,000), a brown safe ($500), four passports and two ID cards.

Eric Colon, 41, was cited and released for misdemeanor possession of controlled substances at 9:45 a.m. on Nov. 11 at North El Camino Real, Encinitas.

Sheriff’s deputies responded to a call for misdemeanor vandalism at 10:56 p.m. on Nov. 11 at Union St., Encinitas. The male victim, 42, and the female victim, 23, reported damaged windows ($100) and automotive parts ($100).

Sheriff’s deputies responded to a call for felony vandalism at 5:31 a.m. on Nov. 12 at West D St., Encinitas. The female victim, 67, reported damaged miscellaneous items ($100).

Sheriff’s deputies responded to a call for a felony vehicle stolen at 8:53 a.m. on Nov. 12 at Lynwood Drive, Encinitas. The male victim, 55, reported a stolen gray pickup truck valued at $60,000 and a dark blue four-doors sedan valued at $20,000.

Sheriff’s deputies responded to a call for felony grand theft, a shoplift at 12:29 p.m. on Nov. 12 at Leucadia Blvd., Encinitas. The victim, a store, reported two stolen Apple watches ($1,030)

Sheriff’s deputies responded to a call for felony fraud at 12:01 a.m. on Nov. 12 at West Circle Drive, Solana Beach. The female victim, 53, reported stolen cash ($1,857) and personal identifying information.

Jordan Brindley, 37, was arrested at 10:05 p.m. on Nov. 12 at Santa Fe Drive, Encinitas, and booked at San Diego Central jail on suspicion of felony assault with a deadly weapon. The male victim, 24, reported another major injury.

David Bain, 60, was arrested at 7:30 a.m. on Nov. 13 at Leucadia Blvd, Encinitas, and booked at San Diego Jail on suspicion of a felony bench warrant.

Sheriff’s deputies responded to a call for felony burglary, a vehicle at 8:12 a.m. on Nov. 13 at Glasgow Ave., Encinitas. The female victim, 22, reported a stolen light blue purse ($10), cash ($20) and two miscellaneous items ($180).

Sheriff’s deputies responded to a call for misdemeanor petty theft at 9:20 a.m. on Nov. 13 at West B St., Encinitas. The female victim, 45, reported a stolen blue Tory Burch suede purse ($300), Navy Federal credit card and checkbook, three ID cards ($32), DEA badge, a pink Coach leather wallet ($100), miscellaneous items ($30) and three credit cards.

Luis Cuevas, 24, was arrested at 10:07 a.m. on Nov. 13 at Interstate 5 regulator signs, San Clemente, and booked at San Diego Jail on suspicion of felony violation parole and another agency’s warrant.

Marsha Jackson, 41, was cited and released for misdemeanor selling marijuana at 9:08 p.m. on Nov. 13 at Orpheus Ave., Encinitas.

Matthew Sappington, 39, was arrested at 12:13 a.m. on Nov. 14 at Coast Highway 101, Encinitas, and booked at Vista Detention Facility on suspicion of misdemeanor being drunk in public.

Sheriff’s deputies responded to a call for misdemeanor petty theft, a vehicle at 3:21 p.m. on Nov. 14 at Legaye Drive, Cardiff by the sea. The male victim, 47, reported a stolen license plate ($20).

Sheriff’s deputies responded to a call for felony burglary, commercial at 7:27 a.m. on Nov. 14 at Rubenstein Drive, Cardiff by the sea. The male victim, 50, reported a stolen red Specialized Epic bicycle valued at $2,500.

Steven Choate, 56, was arrested at 1:57 p.m. on Nov. 14 at East D St., Encinitas, and booked at San Diego Central Jail on suspicion of a felony violation of parole.

Sheriff’s deputies responded to a call for felony grand theft at 9 p.m. on Nov. 14 at Lomas Santa Fe Drive, Solana Beach. The female victim, 58, reported stolen a Canon EOS-6D-Mark camera valued at $5,000.

Sheriff’s deputies responded to a call for felony vehicle theft at 6:48 a.m. on Nov. 15 at Village Run E, Encinitas. The male victim, 56, reported a stolen aluminum four-door sedan valued at $3,500.