Solana has no “intention to kill Ethereum” but to drive a healthy competition that furthers the message of blockchain and unleashes the true power of a decentralized financial system. This is according to Solana’s co-founder, Raj Gokal. Gokal said that Solana’s true purpose is not to kill or destroy the “beautiful” Ethereum, but to make crypto accessible by everyone in the new web era.
Gokal said this when he replied to a tweet on November 10. In the tweet, Chris Burniske, the co-founder of Placeholder, said that it’s all knives out in the crypto industry as the competition to win is serious. His post suggested that the blockchain networks are in stiff competition to emerge as the most valuable and most used network.
However, Gokal replied by saying that there is no need for a fight between blockchain networks in the industry. Rather, he said, the competition is to help every human to get aboard the crypto train even as Web 3.0 comes alive. Gokal called Ethereum beautiful” and said that Solana had no intention to kill Ethereum, and did not have the capacity to do it even if it had the desire.
Ethereum and the “Ethereum Killers”
Solana (SOL) is one of four blockchains and their native tokens that have been nicknamed the “Ethereum killers” by many in the industry. The others are Binance Smart Chain (BSC), Cardano (ADA), and Polkadot (DOT). These blockchains are among the fastest-growing networks today and are popular among DeFi and NFT creators.
Their major advantages over Ethereum are faster speed of transaction, little or no network congestion, and incredibly smaller network transaction fees when compared with Ethereum’s. Their growth index has shown that more creators are dumping Ethereum for the so-called Ethereum killers, prompting crypto community members to call them the killers of Ethereum.
Solana (SOL) is arguably the second most-valuable network in the group of Ethereum killers, coming second only to Binance Smart Chain (BSC) and is predicted to become more valuable than Ethereum in the future. But while some have said that Solana will “kill” Ethereum, Gokal believes that its true purpose is to open the doors of blockchain for anyone and everyone.
And Solana is doing much to reach that goal. As of press time, Solana is the fifth most valuable coin in the market and has achieved massive gains this year alone. Recently, it was reported that Solanahad over 2.2 million NFTs minted within three months, and has a TVL of over $15 billion.
Solana Price
Solana currently trades at $228.30, having lost 7.31% as of writing. The token has done relatively well on the market with a market cap of $69,264,550,696. Having reached the $229.35 support zone today, the coin looks to be gearing for a tight bullish trend before correcting again.
Solana’s use cases have increased over the last year, driving its intrinsic value up. As more network upgrades and deployments are made, traders can expect massive price changes in the future.
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