Are Ethereum Rivals Doomed To Fail? Solana creator predicts crypto future for smaller projects
- Solana’s creator is bearish on the blockchain and predicts that Ethereum could render it useless.
- The founder believes upcoming crypto projects will change the industry in the coming months.
Solana blockchain founder Anatoly Yakovenko bears it out in an interview with the Bankless podcast. Yakovenko has provided insight into what he thinks the future holds for the Ethereum rival, and it’s not entirely bullish. Solana may become unusable by Ethereum if the current patterns in the market continue.
The Solana creator is fed up with the rate hike from the Feds. Yakovenko worries that if the Feds repeat the same action in an attempt to curb inflation, smaller crypto projects could suffer as a result. Investors may withdraw from Solana if this continues to happen, he claims.
I think that’s a big question for probably all of the smart contract platforms except for Ethereum: Are we going to be in a high interest rate environment for the next five years where all the riskier bets are pushed down and there’s no traction?
Since Ethereum is more known, more appreciated and more adopted than Solana, it poses a big threat to the latter. Solana may not provide anything unique that Ethereum doesn’t already offer to investors, Yakovenko explained. “Even though Solana is 100 times faster. Although we do more transactions than all Ethereum [layer-2s] combined.”
Although all his claims are speculative, he is not as hopeful for Solana if the dangers persist. If Solana’s value declines over time, the survival rate will continually decrease, he notes.
Yakovenko tells what to expect from crypto and future crypto projects
Yakovenko has the same sentiments when it comes to the entire cryptocurrency industry. “What is crypto doing right now that is so crucial to the world that it can’t live without it?” He asks.
Speaking about the future of cryptocurrencies, the Solana CEO is very positive about the new numbers entering the market. He states that he is much more bullish than he was in 2018 and in 2019.
He observed that there are many smart younger people who no longer want to join larger cryptocurrency companies. Rather, he says they are more focused on building amazing products.
He also has positive predictions for what could potentially take place in the market over the next 12 to 18 months.
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Every new product or event that may take place in the cryptocurrency market within the mentioned time period will have a greater impact on crypto than anything that has been published from as far back as when crypto was launched.
Cryptocurrency has a chance to survive, because if new products are launched, the founders “grind” for the product market, and they will certainly gain users.
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