Anatoly Yakovenko Reveals How Solana Achieved Open Source Status At Launch

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As a crypto investor, I’m excited to share that Solana co-founder Anatoly Yakovenko has finally spoken up about the significant milestone we’ve reached in open-sourcing our codes for developers. This announcement arrives at a crucial time when there’s been some discussion within the community about the accessibility of Hyperliquid’s codebase. Yakovenko’s insights underscore Solana as one of the most effective players in this dynamic ecosystem, demonstrating our commitment to transparency and collaboration.

The Solana Open Source Strategy

Yakovenko mentioned that obtaining both decentralization and scalability was among the toughest tasks, and from the very beginning, the protocol relied on the OCC License. Moreover, he emphasized that he required all developers in the ecosystem to collaborate openly through a public platform.

The creator of Solana stated that attracting Open Source Software (OSS) contributors is the most challenging business-to-developer (B2D) sales process he’s encountered. Interestingly, he asserts that he has only observed successful developer coordination when the process itself is open sourced.

Initially, a comment was made by kehaya, a contributor to the Solana Foundation, who is recognized as such on platform X. In this comment, kehaya pointed out that one reason he became part of the Solana ecosystem was because they successfully open-sourced their projects earlier than others.

Adopt an authentic open-source license from the outset, ensuring all developers communicate openly via a public forum. Attracting open-source contributors is a challenging business-to-developer sales process. The key to success lies in maintaining a genuinely open-source approach throughout.

— toly (@aeyakovenko) January 8, 2025

Open Source Innovations on Solana, and Limitations

While Ethereum was the initial leader in developing unique decentralized apps within the Web3 sphere, Solana didn’t get a chance to be the trailblazer in all areas. However, it was Solana that paved the way for the memecoin launchpad with the introduction of Pump Fun.

The competitor to Ethereum has experienced significant triumph, largely due to the widespread use of its decentralized applications (DApps) within its ecosystem. Currently, its meme-based tokens such as BONK and dogwhate are highly sought-after and valued in the crypto market.

Despite achieving numerous successes, certain protocols within its system have persistently faced outages as adoption expands. In response, Anatoly Yakovenko and his team have implemented a fix aimed at addressing congestion issues. This week, Solana developers suggested the account hashing method to further improve the scalability of the protocol.

Expert Forecast on Future of SOL

The widespread acceptance of Solana has led to numerous optimistic price achievements for the token. Over the past year, SOL has surged from a low of $79.06 to a peak price of $263.83, setting a new record high (ATH). Currently, its market price stands at $194.16, marking a 6.02% decrease over the last day.

Based on its standout technology infrastructure and additional appealing traits, leading venture capital groups such as VanEck predict the coin could reach a market value of $3,211 by 2030. Earlier Solana (SOL) price forecasts hint at a possible surge to $400 this month.

Based on its projected growth, the Canadian company Sol Strategies, which is publicly traded, has indeed validated its previous investment in SOL, as previously mentioned by Coingape.

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2025-01-08 21:32