Bankless Anatoly Reflects on Solana In 2023 & 2024
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Dec 26, 2023 
Anatoly Yakovenko, the creator of Solana and co-founder of Solana Labs, dives into the blockchain's evolution, particularly post-FTX fallout. He shares how resilience in innovation has led to an unexpected wave of optimism. Discussion topics include Solana's transaction efficiency, emerging governance structures, and the significance of local fee markets. Anatoly also reflects on the rise of the meme coin Bonk and the intriguing innovations like Solana phones. He highlights the competitive landscape with Ethereum, shedding light on the future of crypto engagement.
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Solana's Near-Death Experience
- Solana experienced a near-death experience after the FTX crash.
- However, core engineers and most ecosystem companies chose to "fight" and build.
Why People Stayed in Solana
- Solana's unique, risky tech and the opportunity to build in a less crowded space kept people engaged.
- This attracted developers who valued being part of an ecosystem rather than running their own L1.
Solana's Parallelism
- Solana's key innovation is its parallelism achieved through local fee markets and isolation.
- This addresses the database problem of hotspots, enabling multiple use cases without global fee spikes.