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The goal is not to kill ETH, but to implement the Web 3.0 project worldwide – says co-founder of the Solana protocol

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Protocol Solana
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The goal is not to kill ETH, but to implement the Web 3.0 project worldwide - says co-founder of the Solana protocol

Solana will not go against ETH

The situation around the duel ETH vs. other DeFi projects was commented by co-founder of Solana Labs, Raj Gokal. According to him, this fight is absolutely useless and the main idea of ​​cryptocurrencies is lost. The real goal is not to deploy ETH, but to accept cryptocurrencies and familiarize each user with the project Web 3.0.

The Solana protocol is still very far behind the ETH with its price. However, it does not lag behind in technology at all, quite the contrary. The network is faster and especially cheaper than ETH. However, according to Gokal, they have no desire to destroy the ETH.

“We can’t destroy ETH, it’s not possible.”

Solana is currently in fifth place in terms of overall market capitalization, with a tough battle with the Cardano ecosystem. SOL’s market capitalization is currently $ 69 billion. In the case of ETH, it is an amount $ 561 billion.

Development and expansion

A few days ago, a major conference was held in Lisbon, Portugal Solana Breakpoint 2021. The event was attended by many dignitaries led by Gokal and Solana Labs CEO Anatoly Yakovenko.

Ecosystem Solana in 2021 it literally exploded in terms of new projects and usability. The NFT sector in particular came to the fore. For the first three months, SOL was exported to blockchain 2.2 million NFT tokens with a total value of more than $ 15 billion. That is a respectable result.

Solana ecosystem for the month of October

We will therefore look forward to what the future of this promising project will show.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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