Cryptocurrency News

Ethereum and Solana will co-exist without superseding

One of Solana’s founding minds has come forward to put all the arguments about Solana versus Ethereum to rest. Anatoly Yakovenko has said there is no future where SOL thrives at the expense of ETH. Meaning both will exist and compete stronger than they are doing right now.

Anatoly has said that he does not envision a time when one will grow at another’s demise. This comes as a strong response to the rising usage of the “Ethereum Killer” label by the Solana community. He has said that he is techno-optimistic, adding that both will survive despite many similarities in their features.

The community may have been encouraged to make a comparison between the two after the Solana network briefly outperformed the Ethereum network.

Also, Solana holds valuable goodwill for the early utility of Proof-of-Stake instead of Proof-of-Work deployed by Ethereum. Solana Network demonstrated its efficiency by processing over 50,000 to 65,000 transactions in a single second. Ethereum, on the other hand, stood at only 30 TPS (transactions per second).

Yekovenko has added that it is not necessary for one to fail so that others can succeed. While both may appear to be in direct competition, they share common features and don’t mind getting into a little competition without affecting each other.

ETH is currently exchanging hands at $2,251.12, an increase of 4.34% in the last 24 hours. SOL has gained only 0.51% in the same duration to touch $64.00. Ethereum is teased to touch the $4k mark in the next 2 years, while SOL will take longer to achieve that feat. Needless to say, this is in terms of trade value only. The growth of a network may accelerate relentlessly despite the token taking it slow on the board.

The Solana community has reacted with two emotions. One is members saying that the market is already for a SOL killer, while others are bullish, saying that Solana is for the people.

It is not just Solana that has been labeled as an Ethereum killer; other blockchains on the list are Texos, Cardano, Polygon, and Avalanche. The list of similarities that it has shared with the network since its inception in 2020 puts Solana in the front seat.

The co-founder has flagged the potential impact of constantly using labels like Ethereum Killer. He has said that such labels are detrimental to the overall growth of the crypto sphere. He has said that a link to the Cold War will only create a hostile environment in the shared, growing digital space.

Solana has become a huge gainer in October and November, with a jump of approximately 200% in its price. The token has outperformed the entire crypto market, and higher growth is estimated to be registered in December. Enthusiasts have named Solana as the best altcoin to go for.

Jason Palmer

Jason Palmer joined CoinNewsSpan as an editor and analyst. He has over five years of experience as a forex analyst. He holds a master's degree in business administration with specialization in finance. He is actively involved in analyzing the prevalent crypto trends. He has a keen interest in commodities and forex trading.

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