Solana Labs Co-Founder Says Ethereum Cannot Be Killed

Raj Gokal, the co-founder of Solana Labs, thinks the community perception of competition between blockchains like Solana SOL/USD and Ethereum ETH/USD is unwarranted.

What Happened: In a series of tweets this week, Gokal stated it "really doesn’t have to be a fight," but rather more key players in the space would correspond to a higher level of user choice.

“Users will be able to switch as these platforms prove out or don’t prove out over time,” he said.

Gokal’s comments came in response to comments from Chris Burniske, former head of blockchain products at ARK Invest, who stated that “L1 knives are fully out” referring to the competition between layer-one blockchains.

“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,” said Gokal.

“Bitcoin BTC/USD is quite obviously the same. Stop framing it as a fight,” he added.

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I know you may not even be talking about @solana, and if so I apologize. but I’m just sad and disappointed that every time non-ethereum chains like solana see success or take big swings at growing, it’s seen as taking swings against incumbents.

we are trying to grow the movement

— Raj Gokal (@rajgokal) November 10, 2021

Solana has often been touted as an “Ethereum killer” on account of its high-speed transactions that are executed at a fraction of the cost of a transaction on the Ethereum blockchain.

As user adoption grew, Solana’s price appreciated by more than 11,000% year-to-date. Over the same time frame, Ethereum has risen by a little over 930%.

Price Action: At press time, SOL was trading at $225, down 6.95% in the last 24 hours. ETH traded at $4,600, down 2.02% over the same period.

Photo: Executium on Unsplash