Can Metacade (MCADE) Follow in Solana's (SOL) Success Story?
If you keep up with the cryptocurrency market, you've certainly heard about Solana's (SOL) phenomenal growth in 2021. At SOL's high in November 2021, investors who bought at the company's debut in 2020 might have cashed out gains of about 44,000%. Of course, we all imagine making money like this, and now there is a new coin that might experience a similar spectacular rise.
This paper will explore the factors that can help Metacade (MCADE) achieve the same level of success as Solana.
The Solana (SOL) Platform: What is it?
A blockchain platform called Solana makes use of smart contracts to offer a framework on which other developers can create applications. Given that their functionalities are somewhat comparable, one of its primary competitors is frequently compared to Ethereum. But Solana distinguishes itself through the speed and cost of its transactions. When Solana was first introduced in 2017, the average blockchain could only process about 15 transactions per second (TPS). For comparison, Visa and Mastercard can process about 65,000 TPS.
Solana currently has a 65,000 TPS maximum theoretical peak capacity. In accordance with Solana's literature, it can process up to 710,000 TPS on a gigabit network at its maximum rate and a staggering 28.4 million TPS on a 40-gigabit network. Solana processes between 350 and 5000 TPS with an average cost of $0.00025 per transaction, even in the current bad market. Contrast that with a post-merge Ethereum that, according to ethtps.info and Messari, can handle between 10 and 20 TPS at a cost of about $2 per transaction.
Users flocked to Solana in 2021 as a result of its exceptional speeds and affordable prices. This happened following the primary Ethereum-based DeFi and NFT gold rush, which at one point drove transaction fees to almost $50. Solana continues to hold its position as one of, if not the quickest programmable blockchains, even after the market excitement has faded. It is presently ranked #9 as one of the most prosperous cryptocurrency projects on CoinMarketCap's leaderboard.
The Function of Solana (SOL)
Similar to Ethereum, Solana validates transactions via a proof-of-stake (PoS) consensus method. But Solana combines PoS with a mechanism known as proof-of-history to accomplish these blazing-fast transaction speeds (PoH).
To fully explain PoH's operation would go beyond the scope of this essay. PoH, unlike other blockchains, provides each node with a central cryptographic clock to use for giving a timestamp to transactions. This implies that nodes simply have to concur on the sequence in which the transactions are in, as set by a "leader" node, rather than communicating to validate a block.
You've generated a historical record that shows an event happened at a given period, similar to taking a picture of today's newspaper and uploading it online.
Metacade (MCADE) – what is it?
Metacade is attempting to upend its industry, much like Solana has done. The community center Metacade was created with the future of gaming in mind. It serves as the platform for connecting and immersing GameFi fans, cryptocurrency enthusiasts, business owners, and developers in everything Web3 has to offer. In order to assist users find their next favorite game to earn titles, increase their gaming income, and interact with like-minded players, Metacade has three main goals.
To do this, Metacade is introducing a number of cutting-edge features that are anticipated to entice thousands of players to its platform. For instance, Metacade wants to provide its users rewards for contributing to the community. A person is compensated with MCADE tokens for their work when they beta test a game, share GameFi alpha, or write a review. As a result, the community becomes motivated to make the Metacade platform the premier online resource for all things Play2Earn, GameFi, and Web3.
Why Might Metacade (MCADE) Have the Same Level of Success as Solana (SOL)?
Metacade is working on more features than just rewarding users. Through Metagrants, Metacade aims to develop into a totally self-sustaining ecosystem that creates some of the most popular Web3 games available today.
Game designers will submit their ideas during Metagrants on an equal footing to the Metacade community, who will then vote on the project they want to see built. The winning entry will be included to Metacade's online arcade, along with considerable financing and continuous community support. In the future, Metacade wants to have an arcade featuring games that the community has created and supported.
You can find a variety of games on Metacade in addition to these ones. The goal of Metacade's platform is to be the finest source for discovering and maximizing earnings from Play2Earn games. All users will have equal access to GameFi thanks to features like leaderboards, a review system, and content portals. Through exclusive tournaments, part-time jobs, and testing chances, players can increase their gaming income. Developers will be paid directly by consumers to test their games and provide comments in a testing environment that is currently being developed.
The Metacade team eventually hopes to transfer control to the community through a decentralized autonomous organization (DAO). By voting on the features, alliances, and governance guidelines they want to see, users of Metacade will be able to influence the platform's future path.
Investing in Metacade (MCADE) vs. Solana (SOL)
Solana has risen in the rankings because to its avant-garde design, but it has its detractors. Many have noted that Solana has extensively relied on venture capital for its funding: the team and venture capital firms received roughly 50% of all SOL tokens.
The network has also experienced regular outages, with at least five of them in 2022. Not to mention that Ethereum 2.0 was created with the ability to support over 100,000 TPS, comfortably rivaling Solana.
Metacade, on the other hand, has no such problems. The team is putting communal value before insider profit. The downside risk is significantly reduced due to the excellent potential for Metacade to grow quickly in a sector that is rapidly expanding. Buying some MCADE tokens soon might turn out to be your best investment yet for Web3 gaming's future.