Even though the cryptoverse has officially labeled Solana (SOL) as the ‘Ethereum killer’ thanks to its significantly lower fees and faster transaction times, Raj Gokal, the co-founder of Solana Labs, says that their crypto project doesn’t actually want to kill off its rival cryptocurrency. In fact, he says that they probably wouldn’t be able to do so successfully even if they wanted to.
This came after Chris Burniske, the co-founder of a well-known venture capital firm known as Placeholder, tweeted last November 10 saying that crypto projects, in general, “want their biggest bags to win.” He also goes on to say that enthusiasts shouldn’t believe everything they read or hear
Gokal responded to Burniske saying that “it doesn’t have to be a fight.” He goes on to argue that for all the developers working on their respective crypto projects, the goal should be to take in as much if not “every human.”
I know you may not even be talking about @solana, and if so I apologize. but I’m just sad and disappointed that every time non-ethereum chains like solana see success or take big swings at growing, it’s seen as taking swings against incumbents.
we are trying to grow the movement
— Raj Gokal (@rajgokal) November 10, 2021
According to data from CoinGecko, Solana currently ranks fifth by total market cap, sitting with $71.7 billion. It’s also ahead of its rival Cardano, another supposed ‘Ethereum killer,’ which sits at sixth place with $67.4 billion. Ethereum, on the other hand, ranks higher than the two projects, as it’s ranked second with more or less $564.7 billion.
That being said, the past year has been a great one for Solana, as it increased up to 11.742% within the year and sits at $237.53. As for Ethereum, it was able to gain about 931% around the same time and has hit $4,800.
Solana Continues to Grow
This week, the “Solana Breakpoint 2021” conference hosted by the Solana Foundation in Lisbon, Portugal took place. The event featured faces such as Gokal, FTX CEO Sam Bankman-Fried, Circle CEO Jeremy Allaire, CEO and co-founder of Solana Labs Anatoly Yakovenko, and even Reddit co-founder Alexis Ohanian.
During his panel, Gokal said that the Solana ecosystem has been booming this year. He showcased data that revealed that within three months only, about 2.2 million NFTs were minted on the Solana blockchain.
Dustin Teander, a Messari researcher, wrote a post last November 12, 2021, entitled “The Perpetual SOL Rise” where he said that over the last quarter, SOL received significant attention from investors. At this point, it’s clear that Solana has major potential to be something great, and given that it doesn’t have plans of completely removing ETH from the picture, we could see these two blockchains side by side.
