Top 5 Ethereum Competitors and Alternatives in 2024

4. Solana (SOL)

Market Cap as of April 14: $65.39 billion

Solana (SOL) is a blockchain platform that is one of the top Ethereum competitors and alternatives in 2024 and uses a proof-of-stake mechanism to provide smart contract functionality. Solana (SOL) also has a unique feature known as proof-of-history, which changes how time is recorded on the blockchain, reducing the need to carry extra data and resulting in faster transactions. Solana (SOL) allows consumers and merchants to directly connect to the blockchain and handles transactions in native tokens or a stablecoin instantly and without any fees.