Aptos VS. Solana: Which One is Better?
Published May 21st, 2023
As the blockchain industry continues to evolve, the battle between Aptos and Solana has been heating up, with both platforms offering unique features and capabilities that appeal to different types of users and use cases.
Developers and users may find themselves thinking about which blockchain network to move into, either Aptos or Solana. Henceforth, it is important for them to understand the differences and similarities between Aptos and Solana. It is also important to compare them and find out which blockchain network is better, Aptos or Solana.
When it comes to technology, Aptos is able to process a higher throughput of 160k TPS, versus Solana which can process up to 65k TPS. Solana beats Aptos in transaction fees, since it has fees of about $0.0001. Aptos, on the other hand, has fees of about $0.00604305. Aptos creates blocks 3 times in a second, whereas Solana creates blocks every 400ms. An advantage that Aptos has over Solana is its next-gen smart-contract language MOVE, developed by DIEM developers at Facebook. Both Solana and Aptos are PoS networks, and they both burn fees. Though Solana burns 50% of all TXs whereas Aptos burns all TX fees. A big negative trait that Solana has is its instability. Over the last few years, it has gone down more than 100h cumulatively. When it comes to valuation, Aptos is overvalued compared to Solana.
Want to understand how we came to these conclusions? Read on to learn about more differences and similarities between Aptos and Solana. We have done our research to make it easier for you!
Let’s get started.
Launched in October 2022, Aptos is a blockchain platform that intends to solve scalability and energy consumption issues that are commonly associated with other blockchain platforms. One of its distinctive features is the use of the Move programming language, created by Facebook's Diem blockchain team.
Move is specifically designed to write secure smart contracts, with automated resource management and a linear type of system. Moreover, Aptos uses its own block-STM data structure that's been optimized for efficient block propagation and storage – enabling it to process up to 160k TPS.
The Aptos platform also has a transaction execution engine called Block-STM. This engine is created to improve the performance and scalability of the blockchain, which makes it a suitable option for a variety of use cases, such as decentralized finance (DeFi) and non-fungible tokens (NFTs).
Aptos also has many ecosystem DApps and wallets. Even though Aptos is newer in the space, many developers have taken it upon themselves to create great wallets.
Aptos intends to offer a more effective and sustainable alternative to other blockchain platforms, which makes it a great choice for DeFi and NFT use cases. Although Aptos is relatively new and has yet to be widely adopted, its unique features and innovative approach make it a platform worth keeping an eye on as blockchain technology continues to evolve.
Solana is a high-performance blockchain platform that was launched in March 2020. It utilizes a unique combination of advanced technologies, including a fast consensus algorithm, a custom virtual machine, and a programming language called Rust.
Solana is designed to be a highly scalable, low-cost, and energy-efficient solution for decentralized applications (dApps) that require high-speed transaction processing.
One of the most significant features of Solana is its consensus algorithm, called Proof of History (PoH). PoH is a highly efficient and secure algorithm that allows Solana to process transactions at incredible speeds, with the potential to handle up to 65,000 transactions per second (TPS).
This speed is achieved by batching transactions into small groups and then processing them in parallel, using the network's advanced hardware architecture.
Solana also features a custom virtual machine called Solana Runtime. This virtual machine is designed to run smart contracts written in Rust, a highly performant programming language that is well-suited for building high-speed dApps. The Solana Runtime supports a range of smart contract functionality, including token issuance, decentralized exchange (DEX) trading, and more.
Technology is important when it comes to blockchain networks. Blockchains with older technology, like Bitcoin, can easily become congested and make it expensive to use. Thus, the technology basis for a network becomes important for its users.
Which has superior technology, Aptos or Solana? We answer this question in this passage. We also look at the advantages and disadvantages of each network with respect to its blockchain technology.
|Aptos Vs. Solana, Technologically|
|Max TPS Throughput||160,000||65,000|
|Virtual Machine||Move Virtual Machine (MVM)||Solana RunTime|
|Main Smart Contract Language||Move||Solana Programming Model (SPL)|
|Avg. basic Transaction Fee||0.000585 APT
|Consensus Algorithm||Proof of Stake + BFTv4||Proof of History + Proof of Stake|
|Features of its Main Smart Contract Language||
Solana Programming Model (SPL)
|Total Validators Online||107||1826|
|Minimum Required to Run a Validator||1,000,000 APT||0 SOL|
|Block Production Time||0.33 Seconds||0.4 seconds|
|Transaction Confirmation Time||4 seconds||1 second|
|Modular Blockchain Architecture?||Yes||Yes|
|Downtime History||No Downtime||
Source: Solana Status
The question becomes, "How does Solana compare to Aptos?" And which network has superior performance and technology. Let’s analyze the table above to find out!
Compared to Solana, Aptos has superior transaction throughput, processing about 160k TPS, compared to Solana which processes 65k TPS.
Even though Aptos has better transaction handling, Solana has lower cost fees. The basic transaction on Solana costs $0.0001 compared to $0.00604305 in the Aptos Network.
Both Aptos and Solana have Proof of Stake based consensus algorithms, though they have different versions of it. Aptos implements their Aptosv4 BFT consensus with their Proof of Stake while Solana includes Proof of History consensus alongside their Proof of Stake consensus algorithm.
One large difference between Solana and Aptos is that Solana uses a smart contract development framework called Solana Programming Model (SPL) which is based on the Rust programming language. Aptos, on the other hand, uses their proprietary language called Move, which was developed by Facebook developers.
Rust is a general-purpose programming language known for its strong memory safety and performance. Move, on the other hand, is a language specific to the Libra/Diem blockchain, designed with a focus on security, safety, and preventing vulnerabilities in smart contracts.
We can infer or assume that Move is the superior programming language compared to Rust. Thus, Aptos has this advantage over Solana since it uses the move programming language.
While Aptos has better TX processing, Solana is better than Aptos in that it has more validators. This unequivocally makes Solana more decentralized than Aptos. Solana is more decentralized than Aptos in the regard that it has more validators. Less capital is also required to make and launch a validator on Solana, compared to on Aptos.
We will see in the decentralization portion of this post why Solana’s decentralization schema is problematic.
How does Aptos and Solana compare with running uptime? We can see that Aptos is superior to Solana when it comes to uptime running. Solana has been offline for more than 100 cumulative hours since its launch. Furthermore, it has been offline for more than 10 different days in 2022 and 18 hours in 2023.
Lastly, Solana has faster confirmation times, though Aptos can simply handle more transactions in the network, since it has a faster block production speed.
Some say that Aptos is the “Solana Killer”, but for it to actually be this, it has to be more decentralized than Aptos. In this passage we compare Aptos and Solana to see which is more decentralized, the next table summarizes our findings.
|Decentralization: Aptos VS. Solana|
|Number of Validators Online||108||1826|
|Minimum Assets Required to run a Validator||1,000,000 APT||0 Solana|
|Has it been paused?||No||No|
|Total down time and its History||None||
Source: Solana Status
|Validator Hardware Performance Requirement||Medium processing power hardware is required||High processing power hardware is required|
When we compare Aptos and Solana with a decentralization lens, we can see that Solana is generally more decentralized than Aptos. Though it does have the problem that the network is unstable.
Firstly, Solana has more validators on the network compared to Aptos. We can see this in the table above, Aptos has 108 validators, less than Solana, which has 1826 validators.
It is easier for people to run validators on Solana than on Aptos simply because Solana has no minimum required Solana to be staked. Aptos on the other hand requires validators to have 1,000,000 Aptos. The only tougher requirement that Solana has is that the hardware required to run a validator has to be of superior performance.
While Solana is generally more decentralized than Aptos, it has network stability issues. Solana has been offline for more than 5 cumulative days since its launch. This is due to large workloads and due to bugs.
Aptos on the other hand has a track record of staying online.
|Tokenomics: Aptos VS. Solana|
|Current Circulating Supply (As of May 2023)||197 Million||395 Million|
|Total Supply(As of May 2023)||1,035,264,901||548 Million|
|Percent Circulating Supply of Max Supply||19%||72%|
|Inflation rate as a result of Coin Minting(2023)||7%||6.325%|
|Coins Minted Yearly||70,000,000||About 34,661,000|
|Circulating Supply Inflation Rate(2023)||41.53%||6.325%|
|Points of Demand||
|Does The Network Burn Coins?||Yes, All Transaction fees||50% of all Transaction fees are burnt|
|Total Coins Burnt Yearly (If Any)||100-250 APT Yearly at the current rates|
|AVG Total Account Growth Monthly||240-250k||120-200k|
|Projected Circulating Supply Inflation Rate (2024)||117.93%||5.37625%|
|Projected Circulating Supply Inflation Rate (2025)||36.65%||4.5698125%|
|Projected Circulating Supply Inflation Rate (2026)||22.6%||3.884340625%|
NOTE: We define Circulating Supply inflation as the increase in circulating supply as a result of coins getting unlocked and coins minted.
Solana has better tokenomics than Aptos as a result of its various factors. Let’s analyze the table above to see why Solana has better tokenomics. Better Tokenomics benefits retail investors in that it helps prices perform better.
Firstly, Solana has a better advantage in tokenomics over Aptos, thus making it easier for Solana to appreciate in price in comparison to Aptos. This is because Solana has a higher percentage of its total tokens that have been released at 72% compared to Aptos, 19%.
When tokens are unlocked and released into the market, this can suppress the price because the foundation or early investors can sell. Usually when the unlocks happen, they are large enough to put sell pressure on the token. Thus, when a coin has a higher percentage of unlocked tokens, it is better for retail investors.
Secondly, Solana has another tokenomic advantage over Aptos in that it has a lower general inflation rate as a result of new coins that are minted. While the numbers are similar, Solana currently increases the overall supply by 6.25% compared to Aptos which has a 7% inflation rate.
Thirdly, Solana has better tokenomics than Aptos simply because the circulating supply inflation for Aptos is astronomically high at 41.53%. This is the result of tokens being unlocked from the foundation. As we mentioned before, these tokens typically get dumped on the market and cause the price to drop or perform badly.
Both Aptos and Solana, being the native coins of their respective networks, have similar coin use-cases. Netowork participants interested in earning revenue or passive income, have to buy Aptos and Solana. by Staking Aptos and Solana, passive income can be generated.
Aptos and Solana is also used to pay for transaction fees.
When it comes to burning coins, both Aptos and Solana burn coins. Aptos burns all transaction fees, whereas Solana only burns 50% of them. This is good for Aptos, though there aren’t many transactions being submitted on Aptos compared to Solana. Thus, the number of coins that are burnt on Solana is much higher. This ends up giving Solana a Tokenomic advantage over Aptos in the short term.
As we mentioned previously, the circulating supply inflation for Aptos is still very large in the years to come, giving Aptos a disadvantage and a negative when it comes to Tokenomics.
Adoption is also important for price appreciation and for the growth of a network. What good is great and innovative technology, if people aren’t using it? In this passage we look at various metrics to see if Aptos or Solana are undervalued or overvalued at their current price point. This is calculated by comparing various adoption metrics.
|Adoption Metrics in Aptos Vs. in Solana|
|Total Value Locked (TVL) (as of May 2023) [Higher is better]||49.21 Million USD||600 Million USD|
|Current MarketCap (as of May 2023)||1.665 Billion USD||8.031 Billion USD|
|TVL to MarketCap Ratio [Higher is better]||0.0295||0.0747|
|Number of core Developers||62||75|
|Total DEX Volume||149 Mil||58.08 Billion|
|Total DEX volume To MC ratio [Higher is better]||0.0894||7.23|
So how does Aptos compare to Solana in adoption metrics? Let’s figure this out in this analysis.
Aptos seems to be overvalued compared to Solana at the writing of this article. It is worth 1.665 Billion USD while it isn’t being used at all. The large MarketCap that Aptos has is due to speculation.
When we compare the TVL to MarketCap Ratio, Solana has a much higher ratio, meaning that people have more value locked in Solana compared to its MarketCap . In Contrast, less people have value locked in Aptos compared to its MarketCap . In other words, Aptos is overvalued.
The total DEX volume to MC ratio also indicates that Aptos is overvalued compared to Solana. This is because the DEX volume of Aptos is small compared to its MarketCap. Solana on the other hand, has a much more realized and realistic ratio.
There are some other differences and similarities between Aptos and Solana which aren’t discussed. These or technological differences. To better explain them, we created a chart.
One feature of Aptos is the Jellyfish Merkle Tree (JMT) design. Aptos leverages the Jellyfish Merkle Tree (JMT) design, utilizing a version-based key schema to optimize write amplification on LSM-tree-based storage engines like RocksDB, striking a practical balance between CPU, I/O, and storage footprint for efficient performance and manageable state data size on disk.
On the other hand, Solana has a unique consensus protocol. Solana's Proof of History(PoH) is a cryptographic clock that provides a historical record of all events in the network. It enables validators to agree on the order and timing of events without having to wait for transaction confirmations. This helps in achieving fast finality and efficient consensus.
Furthermore, Solana utilizes a technique called transaction pipelining, where multiple transactions are processed simultaneously. This parallel processing approach improves the efficiency and throughput of the network, allowing for faster confirmation times and better utilization of network resources.
Finally, Aptos’s Move language is a more advanced programming language, developed by Facebooks, ex DIEM developers. Move on Aptos enhances the developer experience for scalable, future-proof applications by simplifying complexity and improving builder efficiency, similar to how Rust revolutionized infrastructure development.
Aptos integrates the expressive and secure Move programming language natively, sharing core design principles with Move to create an efficient and enjoyable development environment.
With the addition of refined security architecture, configurable gas metering, code upgradability, large-scale tables, resource accounts, and the Move Prover, Aptos has significantly improved the Move ecosystem, benefiting from the expertise and contributions of original Move researchers and developers.
The Move language's four-year track record of security and production readiness adds further confidence to its use on Aptos.
The reality is, Aptos may have higher transaction processing technology. Though Solana does have lower transaction fees of about $0.0001 compared to Aptos which has fees of about $0.00604305. Solana also has better tokenomics, simply because it has a lower inflation rate of 6.325% and because most of the tokens are already released.
Aptos still has tokens to unlock, which can lead to sell side pressure for $Aptos coins.
When we look at decentralization, Solana is also much better than Aptos. This is because Solana has more than 1500 validators online, while Aptos has about 107 validators online. People on Aptos also need 1,000,000 APT coins to be able to run a validator.
When it comes to network stability, Aptos is better than Solana. Solana has gone offline for many days in the past. In January 2022 Alone, Solana went offline for about 86 cumulative hours, over several days.
Lastly, Solana does burn more coins since it is used more, though if Aptos were to gain the same TPS as Solana it would burn more since TX fees are higher on Aptos and because Aptos burns all Transaction fees. Solana is at a disadvantage in this regard because it burns only 50% of all transaction fees.