Bankless Do We Hate Solana?
Dec 6, 2023
The discussion tackles the ongoing debate surrounding Solana's fundamentals versus those of Ethereum. Key points include Solana's zero transaction fees and its unique governance model focused on user experience. The hosts delve into the sustainability of various Layer 1 networks and the complexities of blockchain economics. They also address community perceptions and the rivalry between the Solana and Ethereum ecosystems, advocating for a more inclusive dialogue in the crypto space.
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Fundamentals vs. UX
- Block space sales are a fundamental metric for evaluating crypto assets.
- Good user experience (UX) is important, but it must translate into block space sales to be truly valuable.
Network vs. Token Value
- In the smart contract world, the network's value and the token's value can diverge.
- A network can create value without the token capturing it, like Napster.
2019 ETH Criticism
- In 2019, the Bitcoin community argued that ETH was merely a gas token.
- They believed users would only hold the minimum ETH needed.