Solana has already cemented its reputation as one of the largest competitors of Ethereum which had earned it the nickname of ‘Ethereum Killer’. The community has run with this narrative and it has led to a fierce rivalry between the communities behind both networks. However, Solana founder Anatoly Yakovenko has actually come forward to debunk this belief and has presented a new one entirely.
Solana Is Not An ‘Ethereum Killer’
Speaking on the Decrypt gm podcast, Anatoly Yakovenko dove in to address the ‘Ethereum Killer’ narrative. According to the founder, the creators of the network do not actually view the blockchain this way. Even though they are in direct competition with one another, Solana is not actually trying to kill Ethereum.
Yakovenko expressed that he found the narrative quite funny because Solana was different than that. Instead, he sees it in a way that Solana is complimentary to Ethereum, instead of straight up trying to kill its predecessor.
The founder revealed that there have been times when the Solana team has measured their level of success in comparison to that of Ethereum but added that they do so because Ethereum is still the market leader in the space.
SOL price trending at $30 | Source: SOLUSD on TradingView.com
Even though Solana has grown tremendously in the last two years, Ethereum is still a highly favored network among developers when it comes to building, and Solana does try to measure up to that, according to the founder.
What Draws In People
The subject of developers picking Ethereum or Solana for their development needs comes up again in the conversation and Yakovenko explains how important the apps are. According to him, adoption will get to a point where users are not actually looking at which blockchain they are using but rather be more focused on the app through which they got onboarded.
“We’re seeing new [people] enter the space. When we get to 100 million [active users], will that next 90 million care about which blockchain it’s using? They are going to be using the killer app that brought them there,” Yakovenko explained.
As for what the future holds for the blockchain, the founder said that while there will be multi-chain interoperability in the space, the vast majority of transactions (90%) would actually be happening in a single environment.
Solana is a fast-growing network with more than 106 billion transactions already recorded on the network. However, it still remains behind Ethereum. Presently, there is a little over $931 million locked on the Solana network, while Ethereum commands over 57% of the DeFi total value locked at $31.14 billion.
Featured image from Coinwitcher.com, chart from TradingView.com
Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
