Solana (SOL) co-founder Anatoly Yakovenko says that the undertaking’s largest competitor is now Coinbase’s Ethereum (ETH) scaling answer.
In a brand new interview on the Unchained Crypto YouTube channel, Yakovenko says Coinbase’s Base has develop into Solana’s largest rival because of the quantity of community exercise.
“Base might be the closest competitor now, I’d say, when exercise. How I break this drawback down is … your killer elements of PMF (product-market match) is worth, options or content material. Ethereum’s weak point was worth, and Solana had a killer worth that simply Ethereum may by no means get to, simply charges to customers…
What is exclusive about Ethereum is the belongings issued there. And I feel now that’s shifting over considerably to Solana. One, memecoins are new content material being created day by day… Base, I feel, is the most important competitor that I consider to the Solana ecosystem.”
He additionally says that layer-1s Sui (SUI) and Aptos (APT) have gained floor.
“Sui and Aptos are also doing rather well. They’ve caught up on options and worth. The issue that they’ve is that Solana had such an enormous distinction on these from Ethereum. There was a ten order of magnitude enchancment. Now the enhancements are marginal and never sufficient to love be the killer half. For those who enhance Solana’s charges by 100x you would possibly get some bizarre use instances that go run there however they’re not the key use instances that individuals care about after which it’s not sufficient of a differentiator.”
Solana is buying and selling for $178 at time of writing, up 4% within the final 24 hours.
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