Solana surpasses ETH L2 solutions, Elon Musk reacts

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Solana has outperformed Ethereum and different Ethereum Digital Machine (EVM)-based Layer-2 options by way of 24-hour transaction quantity, reaching a complete of $3.654 billion towards Ethereum’s $2.397 billion.

The information seemingly piqued the curiosity of SOL co-founder Anatoly Yakovenko who responded by way of social media.

SOL’s newest achievement locations it on the forefront of blockchain transactions, even surpassing the mixed efforts of different important networks comparable to Arbitrum, Avalanche, Polygon, and Optimism, in keeping with knowledge offered by DefiLlama.

Yakovenko additionally acknowledged the platform’s success in a response to angel investor and ETH developer Eric Conner.

Observers, nevertheless, are debating the implications of Solana’s centralized staking system, with critics declaring potential vulnerabilities.

In response, Yakovenko has differentiated Solana’s system from the multisig management mechanisms typical of Layer-2 options, aiming to deal with issues about centralization.

Moreover, the dialogue has broadened to incorporate blockchain resilience within the face of potential regulatory challenges.

Yakovenko has engaged in these conversations, suggesting that Solana might make changes to take care of operations underneath strict authorities laws, thereby showcasing the platform’s adaptability.

A comparability between Ethereum and Solana grew to become a subject of dialogue following the activation of Ethereum’s EIP 4844.

On March 16, Conner — recognized for co-authoring EIP 1559 — remarked on the now minimal variations between Ethereum and Solana by way of person expertise.

Submit-EIP 4844, each networks supply comparable transaction charges, operational velocity, and compatibility with main on-chain wallets, with charges now under one cent.

Conner responded to views shared by Messari co-founder Qiao Wang, who had relayed insights from a longstanding Ethereum (ETH) person and expressed frustration with the present state of Ethereum, citing its sluggish efficiency and lack of refinement as main points.

The narrative additional expands with the profitable implementation of Ethereum’s Dencun upgrade on March 13, which launched “blob” knowledge to considerably scale back charges for Ethereum-based Layer-2 options, marking a step in direction of parity in person expertise between the 2 main blockchain networks.

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