They had been each aiming to compete with Ethereum and satisfy their project of turning into the platform of desire for dApps. However, they've now reached a lifeless end.
SOL turned into based with the aid of using a former Goldman Sachs dealer and his team. It is primarily based totally at the generation of sharding and is taken into consideration to be a competitor to Ethereum due to its capacity to technique big quantities of information at excessive speed.
FTX, on the alternative hand, turned into based with the aid of using a few veteran buyers who also are a part of the cryptocurrency market. The project`s fundamental purpose is to offer liquidity for crypto property in alternate for fiat cash or different cryptocurrencies.
Both tasks had skilled great increase considering the fact that their preliminary coin offerings (ICOs). However, after months of severe buying and selling activity, their expenses plummeted as many traders dumped their holdings into fear-brought on promoting waves that had been precipitated with the aid of using rumors that those cash won't be feasible because of regulatory concerns (inclusive of the ones associated with security) or popular uncertainty approximately their destiny viability as systems for decentralized applications (DApps).