Solana Founder Criticizes Ethereum for Exclusionary Nature
The founder of the Solana crypto project, Anatoly Yakovenko, recently voiced strong criticism against Ethereum for creating a social hierarchy that benefits the upper-middle class at the expense of the working masses. Yakovenko’s main accusation revolves around Vitalik Buterin’s concept of centralizing validators on the Ethereum chain, which limits access for those in lower economic classes. To become an independent validator on Ethereum, one must have a minimum of 32 ETH, equivalent to about $53,000. In contrast, Vitalik had previously praised Solana’s developer community and its potential longevity.
Ethereum vs. Solana: The Clash
In the latest news from the crypto world, there is a clash between Ethereum and Solana. Anatoly Yakovenko, founder of Solana, accused Ethereum of being exclusively for the upper middle class. Despite being referred to as an “Ethereum Killer,” Solana was intended to be a decentralized economy accessible to all but has failed to achieve this vision. Yakovenko used terms like “oppression” and “stateless digital domain” to describe Ethereum’s negative aspects. However, when comparing data between the two networks, it is evident that Ethereum is more widely used across various metrics such as active addresses and on-chain volume.
The Dominance of Ethereum
Ethereum’s dominance is not solely due to superior technology or functional blockchain architecture but is attributed to its long-established presence and legitimacy in the DeFi and NFT markets. Despite Solana’s advantages in terms of cost, speed, and accessibility, it still faces issues with node synchronization and occasional downtime. Additionally, Solana suffered setbacks after FTX’s collapse in November 2022, as FTX was its main backer. Ultimately, the struggle for supremacy between Ethereum and Solana is irrelevant. The focus should be on the overall growth of the industry to create a parallel economy that embodies the concept of financial freedom.
A Hot Take: Unity in Crypto Growth
The crypto industry should prioritize collective growth rather than engaging in a narrative of rivalry and exclusion. It is essential to support a world where protocols and networks contribute to a parallel economy that promotes financial freedom, free from intermediaries and bank control. The disappearance of either blockchain would negatively impact the entire crypto industry. Instead of political propaganda or division based on wealth, let us unite to build a market that satisfies both sides and fosters innovation and inclusivity.
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