Market cap : US $ 9.5bn

Market cap : US $ 7bn

Valued at US $ 7bn , Tron is a blockchain that runs DeFi applications and smart contracts . The platform operates a proof-ofstake algorithm , which is powered by TRON ’ s native cryptocurrency , TRX . Founded in 2017 , TRON is managed and supervised by the TRON Foundation , a nonprofit organisation based in Singapore . Established by Justin Sun , TRON has over 165.5 million user accounts and more than 5.81 billion total transactions . In 2022 , TRON was registered as the national blockchain for the Commonwealth of Dominica , representing the first partnership between a public blockchain and a sovereign state .

Leveraging a proof-of-stake mechanism , Solana is a blockchain platform providing smart contract functionality through its native cryptocurrency , SOL . First opening in March 2020 , Solana ’ s blockchain was designed for supporting decentralised apps and smart contracts . In 2021 , the company sold US $ 314m of its native SOL to funding groups led by Polychain Capital and Andreessen Horowitz . While crypto markets have fluctuated following FTX ’ s bankruptcy , Solana ’ s last reported market valuation stood at US $ 7bn . Today , its market cap stands at US $ 9.5bn having dropped from its 2022 high when it was valued at US $ 55bn .

52 December 2023