Solana Founder Brushes Off FTX Woes, Remains Confident in Crowded Blockchain Landscape
Blockchain
Solana Labs founder Anatoly Yakovenko mentioned he stays unfazed in regards to the prospects for the Solana blockchain in an more and more aggressive panorama.
At the least six blockchain networks are on observe to be launched within the coming months, including to the greater than 50 layer 1 mainnets already energetic. In simply the previous two weeks each zkSync and Sui Community have began operations.
Forthcoming initiatives equivalent to Scroll, Coinbase-backed Base and ConsenSys-backed Linea are gaining traction amongst builders. All are flush with capital to fund growth exercise and advertising, doubtlessly reducing into the market share of present networks equivalent to Solana.
Yakovenko, nevertheless, stays assured in Solana’s technical strengths.
“None of them are as quick as Solana, do as many transactions as Solana or run as many nodes as Solana. I believe we’re nonetheless fairly forward on the know-how entrance,” Yakovenko mentioned in a Wednesday interview on CoinDesk TV. “You have seen of us like Helium transfer from their very own layer 1 that they have been engaged on. Render voted to maneuver to Solana as nicely.”
Crypto connectivity undertaking Helium kicked off its migration to Solana final month, abandoning its personal infrastructure in favor of what it known as a extra steady house. Render, initially on Polygon, moved to Solana final week, citing sooner pace and safety.
The autumn of crypto alternate FTX, whereas unprecedented, has little purpose to break the Solana ecosystem, Yakovenko mentioned, although FTX founder Sam Bankman-Fried was a vocal proponent of Solana, voicing assist for a number of community functions by way of token listings, investments and promotions.
“FTX had such an outsized type of place within the market. And so they had been constructing on Solana, they had been constructing numerous functions. And after they collapsed that created this large gap,” he mentioned. “I actually wasn’t even positive. Is that this ecosystem going to outlive?”
Builders, nevertheless, took a longer-term perspective, he mentioned.
“The remainder of the builders which can be constructing on Solana actually had nothing to do with FTX. And also you noticed that within the final hackathon. We had over 800 initiatives submitted throughout that hackathon. That was our largest hackathon ever. So and that occurred, mainly, two months after the FTX collapse,” Yakovenko shared,
His phrases aren’t empty air, on-chain information suggests. Pockets exercise on Solana was the second-highest amongst all blockchains in April, analytics agency Nansen tweeted Wednesday, beating Polygon and Ethereum and behind solely BNB Chain.
