Many pundits and members of the crypto community have dubbed Solana the ‘Ethereum Killer’, stating that its lower fees paired with its faster transaction times give it a major advantage to the longstanding Ethereum Network. Co-Founder of Solana Labs, Raj Gokal, disagrees, and even goes so far as to say that even if Solana wanted to kill Ethereum, it would fall far short of that goal, and then some.
The comments from Gokal were made in response to a twitter post from the co-founder of Placeholder, a venture capital firm. Chris Burniske, the aforementioned co-founder, stated that “despite pretty words, L1 knives are fully out. In crypto, generally, people want their biggest bags to win. This will influence almost all communications, so don’t take what you see and hear as truth”. Raj Gokal took issue with this evaluation and wanted to set the record straight, emphasising that “it doesn’t have to be a fight” and reinforced the idea that the goal for all of us working within the crypto industry should be working towards onboarding ‘every human’ onto Web 3.0. Gokal stated:
Knives out’ implies we are trying to kill Ethereum. Ethereum cannot be killed, it’s impossible. And it’s already a beautiful force of good in the world, empowering millions and creating billions in wealth. Bitcoin is quite obviously the same.
Solana definitely has a major part to play in the future of cryptocurrency, and its position will be clearly marked out in the years to come, but Gokal is right, Ethereum offers a lot to the community, and it’s perhaps impossible for it to be usurped as number 2 at this point.
Sure, Solana may be more cost efficient and faster with transactions, but that doesn’t necessarily mean that it holds the same utilities that Ethereum can provide. With the Ethereum developers working hard to continue improving Ethereum’s scalability problems, implying that it will fall short of Solana just highlights a potential ignorance within the community, and a lack of faith that the community wants to push forward together, rather than try to step on everyone on the way up the ladder.