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As more and more layer 1 networks are launched in the cryptocurrency space it can be hard to weed out the great performers and decide which to not only use but also invest in.

In this guide we will be looking into two of the fastest growing layer 1s, Solana and Hedera. Carry on reading to learn about and see the comparisons for important metrics such as speed, security, transaction costs and more.

Key Takeaways

Solana (SOL) and Hedera (HBAR) are both layer 1 networks

Hedera focuses on speed, security and low transaction costs

Solana has a thriving NFT ecosystem

HBAR vs Solana

What is Solana?

Solana (SOL) is a layer 1 network built for its speed and low transaction costs which makes it a perfect network for both DeFi and NFT ecosystems. Founded in 2017 by Solana is currently run by Solana Labs based in San-Francisco.

Solana is one of the fastest blockchains in the space bringing it a lot of attention in the 2020 bull run as there was an explosion of smart contracts and NFT projects launched through Solana. Due to its high speeds and low transaction costs Solana became the perfect network for NFT projects and user-friendly protocols.

Solana has the goal to fix the scalability issues that a lot of layer 1 blockchains such as Ethereum has.

What is Hedera?

Hedera (HBAR) is a decentralized layer 1 built for its speed which boasts to be 10x faster than blockchain alternatives and for being carbon negative.

Hedera allows developers to deploy smart contracts in Solidity and Vyper allowing for a lot of Ethereum developers to also deploy on Hedera. With Hederas high level of security and the speed in which you can deploy smart contracts, Hedera could very well become the building ground for a lot of developers in the future.

Which is fastest?

This is where things get a bit interesting. Both networks boast very similar transactions per second both clocking in around 10,000; however only Solana has really been tested in this area as Hedera has not undertaken the amount of traffic that Solana has.

At face value they are both equally as fast as each other however with Solana maintaining 4,000 transactions per second while undergoing heavy traffic I give Solana the slight edge in speed.

Which is the most secure?

Security is one of the most important factors when it comes to your crypto and money, when using a network you want assurances that your money will be there when needed and the downtime is minimal if any at all.


Solana much like most newer networks has had its rough patches when it comes to downtime however the team has been very on point with rolling out new updates. During the height of the NFT bull run on Solana the network was often experiencing hundreds of thousands of transactions trying to be put through at once.

Due to this and a lot of bot traffic targeting the network the team rolled out an update with a new fees structure to help and combat the bot traffic. Since this update Solana has not experienced any major down time.

Solana itself has not had any major security breaches however protocols such as Mango have recently been hacked and also the popular Solana based wallet Solana had a breach that resulted in millions worth of NFTs being stolen.

All in all Solana is a very secure network that in recent times experiences very minimal downtime and has not had any security breaches on the network itself.


Hedera boasts an impressive 100% uptime over the past 90 days with the last outage being in August of 2020, it is safe to say that Hedera experiences next to no down time. You could however argue that Hedera has not experienced the amounts of traffic that Solana has, with that being said Hederas uptime is still very impressive.

Hedera has engaged in multiple third party audits to verify their security and look over everything. These audits can be read here.

As far as I can find Hedera has not had any major security breaches or hacks which is great.

Which has lower transaction costs?

Both Hedera and Solana offer very low transaction fees and are some of the lowest in the space.

Hedera boasts transaction fees of just $0.0001USD with a finality time of 3-5 seconds this is achieved through Hederas proof of stake (POS) network powered by a hashgraph consensus. Similarity to Solana in a sense as they are both proof of stake, rather than proof of work such as BTC and ETH previous to the merge.

Solanas gas fees do vary a little bit as they perform upgrades and depending on the network load however the average gas fee on Solana is $0.00025 which puts it at about double the price of HBAR, in saying that the Solana gas fee is still extremely cheap especially when put against networks such as Ethereum where gas fees can range from $8 right up to the hundreds.


Finally what you clicked this article for – HBAR vs Solana, which performs better and which is a better investment?

Both Hedera and Solana have their pros and cons and perform well in their respective fields. While Hedera may be a better environment to deploy smart contracts, Solana may be better for day to day transactions.

As always you should do your own research.