Can Metacade (MCADE) Become a Success Story Like Solana (SOL)?
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If you follow the crypto industry, you probably heard about Solana’s (SOL) epic rise in 2021. Investors that got in at launch in 2020 could’ve cashed out nearly 44,000% gains at SOL’s peak in November 2021. Of course, we all dream of profits like this, and now there’s a new token that could see the same meteoric ascent.
That token is Metacade (MCADE), and in this article, we’re going to discover what could lead Metacade to become as successful as Solana.
What is the Solana (SOL) Platform?
Solana is a blockchain platform that uses smart contracts to provide a framework for others to build applications. It’s often compared to Ethereum as one of its main rivals, as their functions are pretty similar. Where Solana differentiates itself, however, is in its transaction speeds and fees. When Solana was first announced in 2017, transaction speeds across most blockchains were limited to around 15 transactions per second (TPS). For reference, Visa and Mastercard can handle approximately 65,000 TPS.
Nowadays, Solana has a theoretical peak capacity of around 65,000 TPS. According to Solana’s documentation, it has an upper limit of 710,000 TPS on a standard gigabit network and an eye-watering 28.4m TPS on a 40-gigabit network. Even in today’s bear market, Solana is processing around 3500-5000 TPS at an average cost of $0.00025 per transaction. Compare that to a post-merge Ethereum that’s handling between 10-20 TPS at around $2 per transaction, according to ethtps.info and Messari.
Because of these incredible speeds and low costs, users flocked to Solana in 2021. This came after the primarily Ethereum-based DeFi and NFT gold rush pushed transaction fees to almost $50 at one point. Even after the market frenzy subsided, Solana still retains its place as one of, if not the fastest programmable blockchains. It currently sits at #9 on CoinMarketCap’s leaderboard as one of the most successful crypto projects.
How Does Solana (SOL) Work?
Like Ethereum, Solana uses a proof-of-stake (PoS) consensus mechanism to validate transactions. But to achieve these lightning-fast transaction speeds, Solana combines PoS with a system known as proof-of-history (PoH).
Explaining how PoH works in its entirety would go beyond this article’s scope. In short, PoH gives each node a central cryptographic clock to use when assigning a timestamp to transactions, unlike other blockchains. This means that instead of communicating to validate a block, nodes just have to agree on the order that the transactions are in, as set by a “leader” node.
This is akin to taking a picture of today’s newspaper and posting it online; you’ve created a historical record that proves an event took place at a specific time.
What is Metacade (MCADE)?
Like Solana, Metacade is aiming to become a disruptor in its field. Metacade is a community hub designed for the future of gaming. It’s the platform where GameFi fanatics, crypto enthusiasts, entrepreneurs, and developers link up and immerse themselves in everything Web3 has to offer. Metacade has three primary objectives: to help users find their next favourite play to earn titles, earn more from gaming, and connect with like-minded players.
To do this, Metacade is launching several innovative features that will likely draw thousands of players to its platform. For example, Metacade plans to reward its users for playing their part in the community. When someone beta tests a game, shares some GameFi alpha, or writes a review, they’re paid MCADE tokens for their effort. This leads to a community incentivised to make the Metacade platform the number one destination on the internet for everything Play2Earn, GameFi, and Web3.
Why Could Metacade (MCADE) Be as Successful as Solana (SOL)?
But rewarding users isn’t the only feature Metacade has in the works. Metacade is planning to become an entirely self-sustaining ecosystem that produces some of the hottest Web3 games on the market through Metagrants.
Metagrants will see game developers presenting their ideas as equals to the Metacade community, who then vote for the project they want to see built. The winner receives generous funding and ongoing support from the community, and the finished title will be added to Metacade’s virtual arcade. Eventually, Metacade plans to have an arcade filled with titles developed and endorsed by the community.
These titles aren’t the only games you’ll be able to find on Metacade. Metacade intends for its platform to be the best resource for finding and earning more from Play2Earn games. Features like leaderboards, a review system, and content portals will level the playing field and give everyone equal access to GameFi. Players can boost their gaming income through exclusive tournaments, casual work, and testing opportunities. There are plans to develop an entire testing environment where developers pay users directly to test their games and give feedback.
Eventually, the team behind Metacade intends to hand over management to the community through a decentralised autonomous organisation (DAO). This will allow Metacade’s users to determine the platform’s future direction by casting votes on features, partnerships, and governance rules they’d like to see.
Investing in Solana (SOL) vs. Metacade (MCADE)
While Solana has climbed the ranks through its innovative architecture, it’s not without criticism. Many have pointed out that Solana has relied heavily on venture capital for its funding: nearly 50% of all SOL tokens were given to the team and venture capital firms.
Moreover, frequent outages have plagued the network, occurring at least five times in 2022. And we won’t even start on the fact that Ethereum 2.0 was implemented to allow over 100,000 TPS, easily rivalling Solana.
Meanwhile, Metacade faces none of these issues. The team is focusing on value for the community, not insider profit. Coupled with the fact that Metacade has fantastic potential to expand rapidly in a fast-growing industry, the downside risk is severely limited. Picking up some MCADE tokens soon could easily become your next best investment for the future of Web3 gaming.