Anatoly Yakovenko: Solana not an Ethereum killer

Usually, smart contract platforms are in strong competition with ETH. After all, they try to benefit from the weaknesses of the pioneer and thus establish themselves on the market. Competitor Solana is not an Ethereum killer, explains founder Anatoly Yakovenko.

Anatoly Yakovenko denies competition with Ethereum

Ethereum is not only the pioneer and inventor of decentralized finance ( DeFi ), but is still the frontrunner in this market today. It has been known for years that not everything runs optimally.

Ethereum’s throughput of just 15 transactions per second falls far short of user requirements. This not only leads to long waiting times, but also to high network fees when realizing a transaction.

At this point, a wide variety of smart contract platforms come into play. Most of these copied Ethereum in many elements, but provide a blockchain with better scalability and lower costs.

These competitors include, for example, Cardano , Avalanche and Solana . In high expectation, such projects are sometimes given the name Ethereum Killer .

However, Solana founder Anatoly Yakovenko strictly rejects this notion, according to Decrypt ‘s All Things Solana With Anatoly Yakovenko interview . He denies that there is any competition with Ethereum at all.

We sometimes compare our success to Ethereum in terms of developer usage. This is very important because they are the market leader.

It’s funny to see how different programmers are who decide on one of the projects.

Solana and Ethereum are complementary

According to Anatoly Yakovenko, Solana is not an Ethereum killer. Instead, the two projects are complementary to each other. At least that’s what the founder himself is convinced of. The two cryptocurrencies are simply too different to compete with each other.

What I find funny is that people refer to Solana as the Ethereum Killer even though we are so different.

According to Yakovenko, Ethereum focuses on the cheap validation of blocks. That is the top priority within the network. Without giving specific examples, he explains:

There are use cases that you can’t run on Ethereum that can be done on Solana, and that’s where I see developers really prefer Solana over Ethereum.

Because they are able to fill the gaps in each other, the two projects are complementary. Nevertheless, the programmer does not believe in the interoperability of the two blockchains.

Concrete use cases drive the market

Although Ethereum has been able to recapture shares in the DeFi market throughout the year, the Ukrainian native continues to believe in the potential of the Solana blockchain . He points to the fact that concrete use cases drive the market.

Accordingly, a smart contract platform convinces the masses of users with a special dApp or another function. Terra (LUNA) made it clear from 2021 to May 2022 how much success is really possible.

Mainly through the Anchor Protocol, more and more market shares were taken over by Ethereum until the project finally collapsed .