Lily Liu, President of the Solana Foundation, and Mert Mumtaz, CEO of Helius, share insights on Solana's transformative growth in 2024. They discuss its burgeoning developer interest and ambitions to emerge as a 'decentralized Nasdaq.' The pair debate competition with Layer 2 solutions like Base and why they view it as a non-threat. Their conversation also delves into innovative approaches to network extensions and MEV challenges, as well as how the new Solana mobile phone aims to reshape user experiences in crypto.
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question_answer ANECDOTE
Paranoid and Vindicated
Mert Mumtaz felt paranoid about Solana's success in 2024 due to increased pressure and responsibilities.
He also felt vindicated, as earlier predictions about Solana's comeback were initially met with skepticism.
insights INSIGHT
Bitcoin and Solana: A Complementary View
Lily Liu views Bitcoin and Solana as complementary, with Bitcoin as digital gold and Solana as a Web3 technology platform.
She was drawn to Solana because of its user experience, which she found similar to Web2.
question_answer ANECDOTE
From Coinbase to Solana Advocacy
Mert Mumtaz's work at Coinbase, handling various blockchains, led him to found Helios, a developer platform for building scalable apps.
He became a Solana advocate by initially correcting technical misunderstandings about it online.
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2024 has been a transformative year for Solana. With a surge in developer activity, bold innovations in DePIN, and its ambitions to become a “decentralized Nasdaq,” the ecosystem is making waves. But are these changes enough to differentiate it from competitors like Ethereum and L2 solutions such as Base?
In this episode, Lily Liu, president of the Solana Foundation, and Mert Mumtaz, CEO of Helius, join Unchained to discuss how Solana is carving out its niche. They debate whether Base is a serious contender, why they’re not concerned about the 2025 token unlocks, and how Solana’s unique approach to MEV could shape its future. Plus, they tackle the ecosystem’s broader challenges and why they believe Solana’s vision will endure.
Show highlights:
Why Mert feels paranoid but also vindicated
Why Lily started working on Solana after being known as a hardcore bitcoiner
How Mert’s background in Coinbase led him to found Helius and become the voice of Solana online
Whether Solana can become a place where unique innovations are built, rather than copying Ethereum
Whether Solana can achieve its vision of a “decentralized Nasdaq”
Why the ecosystem has attracted so many developers in 2024
Why Lily believes that Base is no competitor to Solana
What network extensions actually mean, according to Mert
How Mert responds to the criticisms around Solana’s MEV
Why Mert and Lily are not worried about the token unlocks of 2025
How the Solana mobile phone will compete with the giants
Why DePIN showcases the real value of blockchain technology
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