Solana = Ethereum. This seems like a strange statement from Solana co-founder Anatoly Yakovenko, but he believes that the two blockchains actually complement each other and work together. According to Yakovenko, Solana acts as a kind of second layer on Ethereum where people go to make cheaper and faster transactions.
Solana = Ethereum
In a series of Twitter posts, Yakovenko explains why he believes Solana is on par with Ethereum. Yakovenko sees Solana as a second layer on the Ethereum network because of the Wormhole EIgenLayer.
Subsequently, the connection between the two blockchains should become possible thanks to technological advances called “Dankharding”, a scalability solution for Ethereum.
According to Yakovenko, this technology would allow blocks from the Solana blockchain to be placed on a data validation bridge on Ethereum, connecting the blockchains together.
Solana is extremely popular
Currently, Solana is the mainstay of the top 10 cryptocurrencies on the market. The coin is already up more than 1,000% this year and has outperformed all other projects in the top 10.
At this point, it doesn’t seem like Ethereum has much to worry about Solana’s revival.
Ethereum still has a market cap five times larger than Solana’s $48.9 billion. Therefore, Solana still needs to rise sharply to reach the Ethereum level.
The larger the market capitalization, the more difficult it becomes to attract additional billions. Many projects have gone from 0 to 10 billion, but the 836 and 268 billion for Bitcoin and Ethereum are still VERY far away for most coins.
What do you think? Does a coin like Solana have the potential to eventually dethrone Ethereum as the largest smart contract platform on the market?
Source: BTC Direct
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Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
