Supporters of each layer-1 blockchain criticized each other last week as competition between networks intensified.
Ethereum and Solana are the two largest blockchains, and both are known for their smart contract capabilities.
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Posted on March 22, 2024 at 6:46 PM ET.
Solana and Ethereum enthusiasts have been at loggerheads over the past week as increased activity on both networks fueled fierce competition between them.
The surge in both chains is due to an increase in transactions on DeFi protocols, primarily due to exchanging meme coins and earning points for potential airdrops. With scalability and meme coins still at the center of contention and debate, proponents of each side are fiercely contesting each other, with each side claiming its preferred solutions and technologies.
Ethereum and Solana share a vision of integrating blockchain into society, and leaders express optimism for coexistence, but some companies remain at odds online and on-chain. .
trading pot shots
The co-founders of Bankless Ventures, a cryptocurrency company that has invested heavily in the Ethereum ecosystem, recently narrowed Solana down to just a meme coin. David Hoffman of Bankless (@TrustlessState), I have written Yesterday's X reported that Solana and Ethereum are “playing different games,” saying, “Solana has been successful in attracting retailers to play in the meme coin space, while Ethereum has attracted BlackRock to “We have successfully tokenized trillions of dollars in assets,” he boasted.
Read more: Wallets associated with BlackRock’s new fund receive meme coins and NFTs
Meanwhile, Ryan Sean Adams, another co-founder of Bankless, reduction Solana pointed out that while Optimism is known as a “superchain” and Arbitrum is known as a “DeFi chain,” it is also known as a “meme chain.”
Mert Mumtaz, CEO of Solana-based developer Helius, responded to Hoffman and Adams, interpreting Hoffman's view that Solana is attracting retailers as positive, saying, “What is Solana? Cryptocurrency has become so accessible that thousands of people can now enjoy it.” ”
However, Mumtaz criticized He acknowledges the elitism in bankless, and defends Solana by highlighting how Solana's number of transactions per second is higher than all the examples given by Adams, explaining that Solana is much more than a meme chain. suggested that. “Let me take this one more time. Solana: ~2000 TPS. Combined with everything else here it's up to 100 TPS,” he wrote Mumtaz.
Read more: Crypto enthusiast raises nearly $690,000 to spread Dogwifat meme across Las Vegas area
Adams also defended Ethereum's rollup-centric roadmap. make equal Ethereum's expensive block space in expensive real estate in Manhattan, Layer 2 blockchain network in the suburbs. In a tweet, he encouraged consideration of cheaper alternatives such as Layer 2 networks, saying they are “great” and adding that users inevitably incur costs, so free real estate is claimed that it did not exist.
Solana co-founder Anatoly Yakovenko responded sarcastically to Adams. saying“If you can’t afford to live in Manhattan, it might be time to rethink Layer 1.”
Additionally, on Tuesday's decentralized social network Furcaster, Mumtaz Made fun The Ethereum ecosystem likens Ethereum to the supervillain Voldemort, as Ethereum currently relies on a fragmented Layer 2 network to scale. “Ethereum doesn't want you to know this, but have you ever seen Harry Potter? Voldemort continually attaches his soul to many objects so that he can spread evil forever. Fragment. Rollup is a Horcrux [and] Ethereum is Voldemort. ” A Horcrux is an object into which Voldemort inserts a part of his soul.
Which is better?
Meanwhile, DeCentral Park Capital portfolio manager Kelly Yeh said in a phone interview with Unchained that blockchain has different use cases, each with its own proponents and different strengths and weaknesses. Therefore, it is pointless to debate whether Ethereum or Solana is better.
However, Ye said that increased competition between Ethereum and Solana “will make each other better…We've been building the infrastructure for years. And now we're building the infrastructure for both chains. We’re really entering the stage where improvements will enable a Cambrian explosion of apps being built on top of it.”
