Why is Bloombot built on the Solana blockchain instead of other networks?
Bloombot is built on Solana because of its superior transaction speed and lower gas fees compared to other blockchains like Ethereum. Solana can process up to 65,000 transactions per second (TPS) with minimal latency, which is crucial for automated trading bots that rely on speed for arbitrage and high-frequency trading strategies. Additionally, Solana’s Proof-of-History (PoH) consensus mechanism ensures a secure and scalable environment for executing smart contracts without congestion issues. Unlike Ethereum, where high gas fees can significantly eat into profits, Solana’s low-cost structure allows Bloombot users to execute numerous trades without incurring excessive transaction costs. Furthermore, Solana’s growing DeFi ecosystem offers ample opportunities for liquidity provision, yield farming, and trading, making it an ideal network for Bloombot’s functionalities. See
https://www.bloombot.xyz/ for better reach.