While many critics have called Solana (SOL) the “Ethereum killer” because of lower fees and faster transaction times, Solana Labs co-founder Raj Gokal said the project did not want to kill cryptocurrency – and could not if he did.
Gokal made the comment in response to a Twitter post on November 10 from VC co-founder Chris Burniske, who wrote: “Despite the fine words, the L1 knives are out of order. In cryptocurrency, people usually want to win their biggest wallets. ”
“This will affect almost all communication, so do not take what you see and hear as facts,” he added.
In response, Gokal stressed that “this should not be a battle” when he argued that the goal for all people involved in cryptography should be aboard “everyone” in Web 3.0, noting that:
Knives out means we’re trying to kill Ethereum. Ethereum can not be killed, it is impossible. It is truly a wonderful force for the good of the world, which strengthens millions and creates billions of wealth. It is clear that Bitcoin is the same. ”
According to CoinGecko, SOL is currently ranked 5th after total market value with a total market value of $ 71.7 billion, and passes its counterpart Cardano (ADA) in sixth place with $ 67.4 billion. ETH is well ahead of them in second place with a market value of around $ 564.7 billion.
But Solana has taken great strides lately. Over the past year, it has risen 11.742% to $ 237.53, while ETH has gained 931% over that time frame to around $ 4,800.
Earlier this week, the Solana Foundation hosted Solana Breakpoint 2021 in Lisbon, Portugal, which was attended by guests such as Jocal, Solana Labs CEO and co-founder Anatoly Yakovenko, FTX CEO Sam Bankman-Fried and Alexis Ohanian & Circle, co-CEO. Reddit director Jeremy Aller.
In a speech on the first day of the event, Gokal stated that the Solana ecosystem could “explode” in 2021 in all vertical scenarios and “use cases”. The co-founder cited data showing that 2.2 million NFTs were minted on the Solana blockchain in three months, as well as over $ 15 billion locked in DeFi-based Solana as of November 7 ($ 14.47 billion at the time of writing). .
The Solana ecosystem from October
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In a November 12 post entitled “The Perpetual SOL Rise” by Messari researcher Dustin Tender, he noted that “Solana has generated significant investor interest in the last quarter”, citing a long list of promising “growth catalysts” for the project.
“The price discovery was in many ways well supported across all sectors – a $ 100 million gaming fund announced, Brave announcing local Web3 integration, a $ 100 million investment in social media from Reddit and a $ 40 million fundraiser in Neon Labs for the implementation of EVM … on top of the infrastructure, run NFT on Solana and build FTX on NFT integration. ”
“And of course, it’s Solana’s DeFi ecosystem, which has quadrupled since September,” he added.