Competition between layer one smart contract platforms has intensified in recent months. As merchants and developers continue to embrace Ethereum, network alternatives offering faster transaction times and lower fees have also appeared.
“Ethereum killers,” a term widely used within the crypto community, has gained notoriety lately due to this narrative.
Sam Trabucco, Co-CEO of Alameda Research, on the latest edition of the Unchained Podcast, shared his perspective on it, especially in light of Solana’s Growth. Furthermore, he also touched on the reason behind SOL’s price increase.
Clip: How Solana Compares to Ethereum, According to Alameda Co-CEO Sam Trabucco.
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SUN in, ETH out?
The SOL rally in recent months has been more than impressive. Despite minor setbacks, the altcoin has been able to keep up with its macro uptrend. The largest # 5 token was trading above the $ 235 mark, having risen 4% at press time.
Consider this: the alt went from being valued at around $ 3 to the price mentioned above, in a matter of months. But what exactly drove this crazy rally?
According to the executive, to begin with, its transaction speed. Solana can carry out 50,000 transactions in a single second. You can quickly add multiple properties to your existing network. Whether you are building applications or mining SOL tokens, the network claims to work everything in “microseconds”.
Meanwhile, the network also claims to offer an incredibly low transaction fee of only $ 0.00025 per transaction. the additional executive,
“There are many interesting projects that are being built using Solana… (This) has also excited investors quite a bit. These projects can be combined with each other and represent a future of finance, to some extent, they are legitimately happening. “
This network also has different perpetual, loan platforms, DEXs. Solana has contributed to bringing more than 350 projects to life. Most of these projects focus on the hottest niches on the market, including DeFi, blockchain gaming, and NFT.
For example – Serum, a decentralized non-custodial exchange (DEX) and Solarians (a collection of 10,000 completely randomized generative NFT robots), among others.
Is SOL-ETH coexistence possible?
According to Trabucco, “As for everything I’m talking about how much is being built on Solana, a lot more is already being built on Ethereum. It is impossible to deny that. ” He also opined,
“Ethereum is unlikely to disappear in a couple of years. It already has so many uses, many people (are) using it for applications. I think it is quite likely that both Ethereum and Solana exist. “
In addition to this, Solana co-founder Raj Gokal also reiterated a similar sentiment recently. He denied the possibility of “killing ETH”. Despite what people thought about the L1 competition, he disagreed. Simply put, he believes that both BTC and ETH are crucial elements of the crypto ecosystem.
That being said, SOL had an amazing start to the year. The valuation of cryptocurrencies managed to reach stratospheric levels, with an increase of more than 60% in just the last month. In fact, based on recent analysis, Solana is unlikely to end up becoming a victim of a potential “crypto winter.”
This is a machine translation of our English version.