Bobos & Wojaks

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No One Can Replace Ethereum And Bitcoin, Says Co-Founder Of Solana

Raj Gokal, co-founder of Solana (SOL), was irritated by project comparisons, as if they were a disagreement. Even while some suggest Solana is a wonderful candidate, he believes there are no successors for Ethereum, and the same is true for Bitcoin.


These squabbles are about developer egos rather than user advantages. The most important objective is to introduce more individuals to the world of cryptocurrencies and encourage them to utilise one that matches their needs.


The similar mindset can be seen in Vitalik Buterin, the developer of Ethereum, who does not appear to be jealous of Solana’s rise over the last year. He is, nonetheless, eager to continue working on his idea.


Now, Solana (SOL) is one of the most rewarding investments of the year, with gains of 11,200 percent over a 12-month period. Many consider it to be the Ethereum Killer, implying that it can kill Ethereum and take its place because of its scalability and, as a result, lower transaction fee.


Nonetheless, project co-founder Raj Gokal is dissatisfied with these statements. Every time a coin like the SOL rises, I express my dissatisfaction with such analogies.


“We are trying to make the movement grow”


Gokal feels that regardless of the blockchain used, the most essential thing is to try to introduce more people to web 3.0. Even a Visa official stated this week that NFTs are assisting in the popularisation of cryptocurrencies.


“’Sharpen the knives’ means we’re trying to kill Ethereum. Ethereum cannot be killed, it is impossible. And he is already a beautiful force for good in the world, empowering millions [de pessoas] and creating billions [de dólares] in wealth. [Com o] Bitcoin is obviously the same thing. Stop framing this as a dispute”, said Raj Gokal.

In other words, it is vital to stop making parallels and understand that this is an ecosystem with the same goals: offering its users more financial freedom and creating wealth for those who bet on its innovation.


In a recent interview, Vitalik Buterin, the founder of Ethereum (ETH), also referenced Solana. In it, Vitalik acknowledges that many people use it because of the lower charges, but he doesn’t seem troubled by it.


However, it is evident that Ethereum must reinvent itself in order to maintain its position as the second most valuable currency. And this is being accomplished by the move from Proof-of-Work (PoW) to Proof-of-Stake (PoS) (PoS).


Bitcoin, on the other hand, is far less endangered than Ethereum; after all, there aren’t nearly as many competitors, particularly when it comes to value storage. Even Apple CEO Tim Cook stated this week that he invests in the currency.