Solana founder wants to compete with Ethereum

Few cryptocurrencies have had as good a year as Solana (SOL). This blockchain was declared dead at the end of last year after the collapse of FTX, but the blockchain has quickly grown in size. Nevertheless, Solana co-founder Anatoly Yakovenko is calling for peace with Ethereum (ETH) and its supporters.

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Solana CEO: No future without Ethereum

According to Yakovenko, Solana’s supporters call the network an “Ethereum killer” because it is technically superior. In a message on the social media platform X, he calls this approach ridiculous. According to the CEO, the two networks have overlapping features and while they will compete with each other, that shouldn’t be a problem, he says.

He doesn’t expect Solana to thrive while Ethereum stops. Ironically, the market is already speculating about the arrival of a “Solana killer”, according to one commenter to the original message. Jakovenko doesn’t seem to care much about that either.

Other SOL enthusiasts emphasize that a multi-blockchain future is actually positive for the crypto industry, as healthy competition ensures better technologies.

Solana is strong, but the network is not like that

We have to wait and see which of these scenarios will be the future. In any case, 2023 was a very successful year for the coin. SOL’s share price has risen around 500% since the end of last year. Almost 300% of the gains have come since September. The market for the token has also recovered reasonably well after the problems at the crypto exchange FTX, which had invested heavily in SOL and the ecosystem.

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Furthermore, things seem to be going well with the blockchain itself. Last year and at the beginning of this year there were major disruptions that even led to a temporary shutdown of the network, but otherwise this year there was no disruption in terms of outages.

At the same time, the consequences of the problems with the network and with FTX are still being felt. The number of Solana users was at its lowest level in more than two years last September.

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