We don’t want to kill the “beautiful” Ethereum

189
SHARES
1.5k
VIEWS
ADVERTISEMENT


While many experts have dubbed Solana an “Ethereum killer” because of its lower fees and faster transaction times, Raj Gokal, co-founder of Solana Labs, said the project had no desire to kill the cryptocurrency – nor would it be able to to do that .

Gokal made the comments in response to a Twitter post by co-founder of venture capital firm Placeholder, Chris Burniske, on Wednesday who wrote, “Despite pretty words, L1 knives are completely out. In cryptocurrency in general, people want their biggest pockets to win. ”

Related articles

“This will affect almost all communications, so don’t take what you see and hear for truth,” he added.

In response, Gokal stressed that “it doesn’t have to be a fight” as he argued that the goal of all people working in the crypto space should be to get “everyone” into the Web 3.0, noting that:

“’Knives out’ implies that we are trying to kill Ethereum. Ethereum cannot be killed, it is impossible. And there is already a beautiful force of goodness in the world that strengthens millions and creates billions in wealth. Bitcoin is obviously the same. “

According to CoinGecko, Solana’s native cryptocurrency SOL is currently the fifth-place digital asset in terms of total market capitalization at $ 71.7 billion and is sixth at $ 67.4 billion, ahead of “Ethereum killer” Cardano (ADA). Ether (ETH) ranks well ahead of the two with a market capitalization of around $ 564.7 billion.

However, Solana has made up a lot of ground lately. It is up 11,742% over the past year to stand at $ 237.53, while ETH is up 931% to around $ 4,800 over that period.

Solana’s expansion

Earlier this week, the Solana Foundation hosted the Solana Breakpoint 2021 conference in Lisbon, Portugal with guests including Gokal, Solana Labs CEO and co-founder Anatoly Yakovenko, FTX CEO Sam Bankman-Fried, Reddit co-founder Alexis Ohanian and Circle CEO Jeremy Allaire.

On the first day of the event, Gokal stated that the Solana ecosystem “exploded” across all industries and “use cases” in 2021. The co-founder highlighted data showing that 2.2 million non-fungible tokens (NFT) were minted on the Solana blockchain in three months, along with a total of more than $ 15 billion posted on Sunday in the Solana-based decentralized funding (DeFi) was blocked ($ 14.47 billion). at the time of writing).

Solana ecosystem from October

Related: NYDFS Licensed Standard Custody Brings Solana Staking to Institutions

In a Friday post titled “The Perpetual SOL Rise” by Messari researcher Dustin Teander, he noted that “Solana has attracted considerable investor attention over the past quarter” and pointed to a long list of promising “growth catalysts” for the project there.

“In many ways, pricing has been fired up in various sectors – a $ 100 million gaming fund has been announced, Brave announced native integration on the Web3 front, 100M infrastructure past, pplpleasr launches NFTs on Solana, FTX is expanding an NFT integration. ”

“And of course there’s Solana’s DeFi ecosystem, which has seen TVL expand fourfold since September,” he added.