Ethereum was not the first altcoin, but it has become dominant. With a current market cap of $208 billion, ETH has become the most comprehensive altcoin despite being launched after assets such as Litecoin, Dogecoin, Ripple, and Dash. With the birth of Ethereum killers, ETH has been the subject of various comparisons, especially with Solana. Recently, an Ethereum advocate highlighted the reasons why Ethereum cannot be compared to Solana. Here are the details…
Ethereum advocate draws attention to outages in Solana network
Ethereum’s consensus mechanism, environmental concerns of mining, came to the fore as some problems. It has spurred the emergence of assets looking to multiply the Ethereum Blockchain diversity without the high transaction fees that accompany proof-of-work. One such entity is Solana. The Solana network has often been compared to Ethereum. Ethereum advocate and founder of Cyber Capital, Justin Bons, has stated why comparing Ethereum to Solana is not a solid argument. He referred to the periodic network outages that have plagued the Solana network in recent months. “ETH has never experienced network outages unlike SOL,” he said.
Bringing back the events of two years ago, Bons continued, “The founders of ETH, unlike SOL, never lie.” In April 2020 – after Solana was launched – the Solana team stated that SOL has a total circulating supply of 8.2 million tokens. But it was later discovered that the total circulating supply was about 20 million at the time. Bons concluded by stating that while ETH has its own flaws, the numerous problems and poor design that plagued the SOL project should not be underestimated compared to the early days of ETH.
Solana “full of lies”
Bons made a habit of discussing Solana. His latest tweet comes six days after Solana accused his project of being full of “lies, fraud and bad design”. Anatoly Yakovenko, co-founder of Solana Lab, responded to Bons hours later to defend his project.
People who adhere to the principle of “Solan counts votes as transactions” have a deep misunderstanding of how and why the chain works. The runtime is so fast and optimized that sending votes as real transactions is possible and cheapest. There is no other network in the world that can handle this. Good luck on this one.
Solana was launched as an open-source blockchain with smart contracts functionality in 2017 by Russian computer engineer Anatoly Yakovenko. The Solana chain aims to solve the Blockchain Trilemma by integrating a Proof-of-Stake mechanism with Proof-of-History. Solana’s use of PoH has led most of the community to believe that the network is not truly decentralized. Despite promising lower fees and higher scalability than the ETH chain, Solana has unique issues, including network outages.
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