Solana Labs co-founder: We don’t want to kill ‘beautiful’ Ethereum

Many pundits have called Solana (SOL), an “Ethereum Killer” because of its lower fees, faster transaction times and quicker transactions. However, Raj Gokal, co-founder of Solana Labs said that the project doesn’t want to kill cryptocurrency and would not be able to.

Gokal posted the comments to respond to a Nov.10 tweet by Chris Burniske, co-founder of Placeholder Venture Capital. He wrote that L1 knives were “despite pretty words” and was now out. Crypto generally encourages people to have the biggest bags in order to win.

He said, “This will affect almost all communications. Don’t take anything you hear or see as truth.”

Gokal responded by stating that it doesn’t need to be a fight. He argued that everyone working in crypto should aim to get “every human” onto Web 3.0.

“Knives out” implies that we want to kill Ethereum. It is impossible to kill Ethereum. It’s already a powerful force of good in the universe, creating billions in wealth and empowering millions. Bitcoin is, quite clearly, the same.

According to CoinGecko SOL currently ranks fifth in digital assets by market cap at $71.7 billion. It is ahead of Cardano (ADA), who is sixth with $67.4 trillion. With a market capital of $564.7 billion, ETH is in second place.

However, Solana has made a lot of ground recently. It has risen 11,742% to $237.53 in the last year, while ETH gained 931% to $4,800.

You may not be referring to @solana. If so, I apologise. But I am disappointed and sad that non-ethereum chains such as solana have success, or take huge swings at growing, they are seen as being against incumbents. We are working to grow the movement
— Raj Gokal (@rajgokal), November 10, 2021

Solana’s expansion

The Solana Foundation hosted the conference “Solana Breakpoint 2021” in Lisbon, Portugal earlier this week. It featured guests like Gokal, CEO Anatoly Yakovenko and co-founders of FTX, Sam Bankman-Fried CEO, Reddit cofounder Alexis Ohanian, and Circle CEO Jeremy Allaire.

Gokal spoke on day one, stating that the Solana ecosystem is “exploding” across all verticals and “use cases in 2021.

Solana ecosystem, October

Related: NYDFS-licensed Standard Custody offers Solana staking for institutions

He wrote a Nov. 12 blog post entitled “The Perpetual SOL Rise” by Messari researcher Dustin Teander. He noted that “Solana” has attracted significant investor attention in the last quarter and highlighted a long list promising “growth catalysts.”

“In many ways, price discovery has been healthyly fueled across different sectors — a $100M Gaming Fund was announced, Brave announcing native Web3 integration, $100M investment by Reddit for Social Media and $40M raised from Neon Labs to bring EVM infrastructure, pplpleasr launching FTX integrations on Solana.

He said, “And, ofcourse, there’s Solana’s DeFi ecosystem, which has seen a 4-x TVL expansion from September.”

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