Solana co-founder ignores dubious blockchain history, says SOL is ‘complementary’ to Ether
Anatoly Yakovenko, the creator of the Solana blockchain, has yet to provide a long-term solution to the problems the network has been experiencing lately. He claims that the blockchain is “complementary” to the Ethereum network, despite the fact that the second largest blockchain network in the world has not experienced a significant failure in a long time.
Yakovenko stated in a interview with Decrypt that SOL developers are only comparing the blockchain to Ethereum “in terms of developer adoption” and that the two blockchains are “complementary” to each other in many aspects.
He said,
“I think it’s very important because they’re the market leader… What’s funny to me is that people call Solana an Ethereum killer, but we’re so different.”
Introduced in March 2020, the SOL blockchain is well-liked for dapps and non-fungible tokens, or NFTs, due to its fast transaction times. The blockchain uses a proof-of-stake consensus algorithm, just like post-merger Ethereum. However, SOL is a mixed blockchain that also uses a proof-of-history consensus mechanism, unlike a handful of proof-of-stake blockchains.
The purpose of proof-of-history is to preserve past events on the blockchain in chronological order so that there is a shared record of what happened when for future reference.
According to Yakovenko, Ethereum is centered on the notion that validators must be incredibly affordable. He said Ethereum’s sharded network and its future plans are built around the concept of extremely cheap validation, and said developers are sacrificing everything else to do so.
Solana Blockchain suffered several outages
The Solana blockchain, unlike Ethereum, has seen a number of significant outcomes since 2022’s first day. Recently, the latter has seen reduced performance and unstable networks. According to Stakewiz, a Solana validation operator, the most recent outage, which occurred on September 30, was caused by a misconfigured node (a computer running Solana software required for the network to function).
SOL blockchain’s founder went on to say,
“There are use cases that you can’t run on Ethereum that you can run on Solana, and that’s where I’m starting to see developers really choosing Solana over Ethereum.”
Contrary to what has been said, there have been exploits in the applications created on this blockchain. Recently, $116 million was stolen from Mango Markets, a well-known decentralized exchange based on the Solana blockchain.
Yakovenko said Firedancer, a second Solana client introduced in August, will be a “long-term remedy” for the disruptions the blockchain has experienced in another interview with Decrypt on October 8.
