Monday, December 6

There are no substitutes for Ethereum and Bitcoin, says co-founder of Solana

Raj Gokal, co-founder of Solana (SOL), was upset with comparisons between projects, as if it were a dispute. According to him there are no replacements for Ethereum, even if some say that Solana is a great candidate, and the same goes for Bitcoin.

These disputes are more about developer egos than user benefits. The most important point is to make more people discover the world of cryptocurrencies and use one that meets their needs.

The same attitude can be seen by Vitalik Buterin, creator of Ethereum, who does not express any envy of Solana’s growth this past year. However, he is interested in continuing to develop his project.

Ethereum killer

Today Solana (SOL) is one of the most profitable investments of the year, in the 12-month period the cryptocurrency showed profits of 11,200%. Due to its scalability and, consequently, cheaper transaction fee, many consider it to be the Ethereum Killer, meaning that they can kill the Ethereum and take its place.

Despite this, project co-founder Raj Gokal is not too happy with these claims. Showing disappointment at comparisons of this kind every time a coin, like the SOL, goes up.

“We are trying to make the movement grow”

Gokal believes that the most important thing is to try to introduce more people to web 3.0, regardless of the blockchain used. This week even a Visa executive said the NFTs are helping to popularize 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”, disse Raj Gokal

In other words, it is necessary to stop making comparisons and accept that this is an ecosystem that has the same goals, giving more financial freedom to its users and generating wealth for those who are betting on its innovation.

Vitalik also seems to admire Solana

Vitalik Buterin, creator of Ethereum (ETH), also mentioned Solana in a recent interview. In it, Vitalik agrees that many people are using it because of its cheaper rates, and he doesn’t seem bothered by it.

However, it is clear that the Ethereum needs to reinvent itself in order not to lose its position as the second largest currency. And that’s being done with the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS).

Bitcoin, on the other hand, is much less threatened than Ethereum, after all there are not so many competitors, especially when it comes to store of value. Even Tim Cook, Apple’s CEO, said this week that he invests in the currency.

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