Solana’s Anatoly Yakovenko Wants To Build Ethereum-Like Execution Layer

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As an analyst with years of experience in the crypto industry, I find it refreshing to see such a mature and collaborative approach from key figures like Anatoly Yakovenko, the co-founder of Solana. His recent statement praising Ethereum’s design and vision is a testament to his understanding that collaboration and learning from each other are crucial for the growth and success of any blockchain project.

Though there’s competition between Solana and Ethereum, their co-founder Anatoly Yakovenko has given praise on a significant infrastructure that Ethereum developed. On his official Twitter account, Yakovenko admitted to appreciating the design and concept of Ethereum.

Can Solana Learn From Ethereum?

Most blockchain protocols are typically designed with the aim of addressing shortcomings found in existing competitors. This applies to both Ethereum and Solana, two prominent chains in the cryptocurrency world. In the crypto community, Solana is frequently seen as a potential significant challenger to Ethereum due to its speed and lower costs.

To reassert its prominence, Ethereum has adapted by implementing several Layer-2 protocols, which are underpinned by a robust execution layer. As Yakovenko stated, if given the task to create an alternative to Bitcoin, he would direct the development effort towards designing Ethereum with a focus on a powerful settlement layer.

This passage highly commends the SOL innovator, underscoring that Ethereum is versatile enough to host numerous execution environments. Ethereum kickstarted the smart contract movement and has been consistently pushing boundaries since then. The upcoming ETH Pectra update will add more power to the mainnet as well as related Layer-2 solutions.

I’m a fan of BanklessHQ and Ethereum. In fact, I admire the Ethereum design and its vision. If someone asked me to create an alternative to Bitcoin, I’d focus on developing a system similar to Ethereum’s settlement layer in my engineering approach.

If that’s the vision, ethereum can just embrace all the…

— toly (@aeyakovenko) October 24, 2024

To the co-founder of Solana, creating a primary protocol capable of handling sufficient data (blobs) could significantly contribute to our aim of satisfying users’ needs. He firmly advocates for removing any obstacles in the engineering process, ensuring that the concept he visualizes is not hindered by technical barriers or deterrents.

Based on this, he mentioned he’d advocate for adjustments that could steer the process towards the innovation he recently outlined.

Building a Thriving Ecosystem Beyond Memecoins

Currently, when people discuss Solana, it’s often associated with memecoins. While Ethereum also hosts these memecoins, Yakovenko has highlighted the distinctions between the two platforms recently. Despite Solana achieving numerous milestones due to its memecoin surge, Yakovenko asserts that he aims for more.

In his recent post, he expressed that for a personal endeavor, he intends to guide Solana in disseminating information globally to an extensive number of subscribers at the speed permitted by physics.

Despite the occasional network congestion and outages being momentary hurdles, Yakovenko views them as inconsequential because he intends to attain his objectives by alternative means.

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2024-10-24 23:54