Will Solana Be the Execution Layer and Ethereum the Settlement Layer? - Ep.294
Unchained
Evolving Dynamics: Solana and Ethereum Coexistence
This chapter examines the development of an Ethereum virtual machine by Neon Labs on the Solana platform and its potential impact on the DeFi landscape. It discusses the coexistence of both ecosystems, the strategic shift of apps and users between them, and the unique attributes of Solana's community and NFTs. The chapter also addresses governance complexities, competitive dynamics with other blockchains, and the user experience of newcomers engaging with Solana's growing ecosystem.
On Unchained, two co-founders of Solana Labs, Anatoly Yakovenko and Raj Gokal, dive deeply into the Solana ecosystem, discussing everything from the price of SOL to the Solana network outage to the competition between Ethereum and Solana. Show highlights:
- why Raj thinks SOL’s market cap grew from $86 million to $68 billion in less than a year
- Anatoly’s and Raj’s background and how they found themselves working together to build Solana
- why Anatoly thinks Solana will be a general-purpose blockchain rather than specializing in gaming or high frequency trading
- Anatoly’s goal to make Solana the first billion-user blockchain
- why Raj thinks NFTs on Solana have been so popular
- why, in the opinion of Raj and Anatoly, Solana’s purpose has shifted away from high-frequency trading
- how NFTs could replace ads
- why “everything is DeFi”
- how Solana Labs plans to allocate the recent $314 million funding round it raised
- what lessons Anatoly learned from the 18-hour September network outage
- technically speaking, what happened to cause Solana’s network outage
- why Anatoly believes that outages, at this stage, aren’t necessarily a bad thing
- whether “trading mercenaries” dominated at Solana Breakpoint
- why developers are interested in building on Solana
- how Solana and Ethereum compare as execution and settlement layers
- why Raj doesn’t like framing competition between Solana and Ethereum as a fight
- how Anatoly views the competition between Ethereum and Solana
- whether the arrival of Neon Labs, which is bringing EVM to Solana, could lead to developers leaving Ethereum
- how NFTs and Phantom wallets are bringing in new users for Solana
- whether Raj and Anatoly would roll back Solana if something like Ethereum’s DAO hack were to occur
- why Solana has the competitive advantage in throughput, according to Anatoly
- what would happen if FTX cofounder and CEO Sam Bankman-Fried gave up on Solana
- their predictions for Solana five years from now
Thank you to our sponsors!
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Episode Links:
Anatoly Yakovenko
Raj Gokal
Solana News
- Anatoly Yakovenko -- It ‘doesn’t really matter’ if the network goes down again
- Neon Labs
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- https://www.theblockcrypto.com/post/123744/neon-labs-developer-of-ethereum-virtual-machine-on-solana-raises-40-million
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- Aave + SushiSwap going to Solanas through Neon Labs
- Solana + Brave integration
- ATH at $260
- Solana Breakpoint
- FTX US + Solana NFTs
- Solana Outage
-
- The Block’s coverage
- Why the mainnet went down
- Potential ramifications
- Anatoly Yakovenko Solana outage tweets
- Solana $314M Fundraise
Solana Topics
- Raj thinks Ethereum cannot be killed
- NFT Growth
- Investment in gaming
-
- Forte
- Alexis Ohanian investment
- FTX + Solana
- Phantom wallet hits 1M+ users
Solana Basics
- CoinMonk: https://medium.com/coinmonks/solana-more-update-for-sol-becb65024877
- Solana Labs: https://medium.com/solana-labs/proof-of-history-a-clock-for-blockchain-cf47a61a9274
- The Tie: https://research.thetie.io/solana-ecosystem/
- Binance.Research: https://research.binance.com/en/projects/solana
- Genesis Block: https://genesisblockhk.com/what-is-solana/
- Block Explorers: https://explorer.solana.com/supply + https://solanabeach.io/supply + https://solanalysis.com/
- Messari: https://messari.io/article/the-perpetual-sol-rise
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