Anatoly Yakovenko, co-founder of Solana’s (SOL), says the Ethereum scaling solution (ETH) from Coinbase is currently its biggest competitor.
Yakovenko, in a recent interview with Unchained Crypto on YouTube, says that Coinbase Base is now Solana’s main rival because of the network’s activity.
When I look at the activity, Base is likely to be your closest competitor. The killer elements of PMF are price, features and content. Ethereum’s weak point was its price. Solana offered a price which Ethereum couldn’t match, with only fees charged to the users.
The assets that are issued on Ethereum make it unique. Now I believe that this is shifting to Solana. “Memecoins, for one, are constantly being updated with new content… I believe that Base is the main competitor to Solana.”
He says layer-1s Sui and Aptos have also gained in popularity.
Sui and Aptos are also doing well. The price and features have caught up. They have a problem because Solana’s features were so much better than those of Ethereum. It was an improvement of ten orders of magnitude. The improvements have become marginal, and are not significant enough to be considered a killer feature. You might see some odd use cases if you increase Solana fees 100x, but these are not major uses cases people care about.
Solana currently trades for $178, an increase of 4% over the past 24 hours.
Subscribe for email alerts to avoid missing a beat
___________________
Please follow us at X@InvCryptoDaily
___________________
Sources of Images include Pixabay Creative Commons & Midjourney
The post Anatoly Yakhenko says Coinbase-Backed layer-2 base is Solana’s biggest competitor – Here’s why may change as new information becomes available.
This site is for entertainment only. Click here to read more
