There are plenty of rumors and myths surrounding the Solana network. For example, some users believe that this blockchain goes offline almost every month. In fact, this has only happened five times in two years. In addition, in the near future the developers of Jump Crypto will introduce a new standalone client for the network that will make it more stable.

Anatoly Yakovenko, CEO of Solana Labs

What makes Etherium different from Solana

Here is one of Jakovenko’s quotes on the subject, voiced on the gm podcast by journalists of the news outlet Decrypt

We sometimes track our success relative to Etherium by developer activity. I think this is important because Etherium is one of the market leaders.

Anatoly Yakovenko, co-founder of Solana Labs

The creator of the project does not consider Solana to be the “killer” of Etherium, which is how the altcoin is often referred to within the cryptocurrency community. Anatoly continues.

It amuses me that people call Solana the “killer of Etherium”, but our projects are so different.

According to him, Solana and Etherium “complement each other” in many ways, which is a better definition of the relationship between the two projects than “direct competition”.

Recall that the Solana blockchain was launched in March 2020. Its main feature is the ability to work with decentralised applications, NFT and other components of the blockchain world with low fees and high transaction speeds. The network itself has important features, such as the use of a modified Proof-of-History consensus algorithm and the absence of a mempool or transaction queue for confirmation in its classic form.

Solana SOL rate schedule from April 2020

Thanks to a combination of innovations, the network is able to handle a huge number of transactions. Specifically, the throughput rate now stands at 2,783 transactions per second – which means that’s how many transfers were processed by the blockchain the day before.

Solana’s network throughput rate

We've interacted with this network a number of times in tutorial articles. For example, here we stack SOL using the Ledger hardware wallet, and in this piece we showed how to check the volume of the stacking rewards. Also last week we got acquainted with the most popular wallet in the Solana network called Phantom, and the material has a description of the advantages of the interface and its testing on the exchange translation.

According to Yakovenko, Ethereum focuses on the idea that validators should be very cheap. The project’s developers are supposedly sacrificing everything else to achieve that goal, on top of sharding integration and almost all future plans for the Ethereum Foundation team are focused on that particular feature.

This opens up space for a decentralised network optimised for consensus at the speed of light. There are use cases that cannot be implemented on Ethereum, but can be implemented on Solana, and this is the reason why many developers are choosing our blockchain.

Incidentally, according to Alchemy Insights, the number of active Solana developers has increased by more than 1,000 per cent since the beginning of this year. All this is happening despite a prolonged bearish trend, which has significantly undermined the popularity of the crypto industry as a whole.

Data on the growth in the number of active Solana developers

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Optimism, the second-tier scalability solution for Etherium, has seen similarly high numbers over the same timeframe.

Optimism active developer growth data

In the podcast broadcast, Yakovenko also mentioned the increase in the number of new users in the crypto industry as a whole.

We are seeing new people entering this space. When we reach the figure of 100 million active users, will the next 90 million care what kind of blockchain they use? They will be using the super application that got them there.

A super-application in this context is a universal solution based on one of the blockchains. Yakovenko himself does not believe that the future of the crypto industry will be strictly divided into different independent blockchains. In his view, customers will use the final product in the form of decentralised applications regardless of the blockchain on which they are based.

This does not mean that the cryptosphere will not have many blockchains, but it could be a situation where a very large proportion of transactions – perhaps 90 per cent of them – are handled in one environment.

Perhaps that is a realistic prediction. In the future, the concept of blockchain itself could change – it could become more like a cloud service platform like Amazon Web Services (AWS), which would serve large-scale decentralised projects. And there will obviously be a place for both Ether and Solana.


We believe that in the future users may indeed pay less attention to the blockchain they use, but for now the situation is quite different. At the moment, certain networks are in demand from developers on different fronts. For example, Solana attracted a huge share of the NFT token market the day before, while Avalanche has attracted interest from game creators thanks to the introduction of sabnets. At the same time, Etherium continues to be a universal platform, where decentralised finance is still prevalent. Obviously, this battle between tier one networks will be more pronounced in the coming bullrun.


What do you think about it? Share your opinion in our Millionaire Crypto Chat. Talk about other interesting topics there as well.