The CEO of the Solana project, Anatoly Yakovenko, presented it as a second-level solution for the Ethereum blockchain network. According to Yakovenko, thanks to Wormhole bridge technology, Solana can function as a second layer network for Ethereum.
CEO and co-founder of the Solana project Anatoly Yakovenko shared his opinion on the further development of the blockchain. He positions Solana as a layer 2 solution for the Ethereum network.
Yakovenko stated that the Wormhole bridge, designed to connect different blockchains, facilitates the integration of Solana with Ethereum:
“Solana is an L2 solution for Ethereum that works thanks to Wormhole. Once dunksharding is completed and scaled, there will be nothing stopping us from merging all Solana blocks to validate data on the Ethereum network.”
Let us remind you that L2 solutions are designed to eliminate the problems of scalability and high commissions at times of peak load on the Ethereum network. We have a separate material on this topic:
The CEO of Solana Labs has repeatedly criticized Vitalik Buterin’s project. In October 2023, he called it a “digital carnival.” According to Yakovenko, Ethereum is not capable of providing true decentralization.
It should be noted that Solana’s main indicators fell sharply after the bankruptcy of the FTX crypto exchange, with which the project was closely associated. However, it gradually recovered in the second half of 2023. The number of active addresses in the Solana network reached its maximum since the beginning of the year, and the SOL token entered the top 5 cryptocurrencies by capitalization.
The total locked value (TVL) of Solana smart contracts has also increased. At the time of writing, this figure has exceeded $1.46 billion, according to DeFiLlama .
We have looked in detail at what is driving the rapid development of the Solana ecosystem and the growth of SOL quotes:
In December, Anatoly Yakovenko revealed the details of the creation of the project. Venture capital funds considered the idea unpromising, and it took him more than two months to receive the first checks from business angels.
