Disclosing Solana’s blueprint, the co-founder noted, “There is nothing stopping developers from creating Layer 2 solutions on Solana. However, Solana aims to synchronize a global atomic state machine as fast as the laws of physics allow.”

Will @solana ever require Layer 2 solutions? There's nothing stopping developers from creating Layer 2s on Solana. However, Solana's aim is to synchronize a global atomic state machine as fast as the laws of physics allow.

In this end state, any Layer 2, side chain, or…

— toly (@aeyakovenko) January 5, 2024

Read Also: Solana Co-founder Yakovenko Warns Against “ETH Killer” Narrative

Describing why the Solana platform seems bent on Layer 1 solutions, Yakovenko explained that Layer 2, coupled with other technological innovations like side chains, data availability validating bridges, and zero-knowledge proof valadium, have never enhanced Solana’s hunger for achieving a global atomic state.

Part of the co-founder’s tweet read thus, “In this end state, any Layer 2, side chain, or zero-knowledge proof valadium amounts to the same thing; they are external execution environments that cannot ensure atomic composition with the rest of the Layer 1 state.”

While Yokovenko seemed to have highlighted some technological innovations as not being integral to Solana’s pressing aim, he still acknowledged them as welcomed developments in the coin’s ecosystem. 

Reiterating Solana’s Commitment To Layer 1 Scaling 

Concluding his post, Yakovenko emphasized Solana’s desire to navigate through Layer 1. The co-founder noted that Solana remains bent on improving the single virtual machine instance on Layer 1, adding that the Solana blockchain can achieve such a feat via future hardware upgrades. 

Yakovenko’s submission speaks volumes of Solana’s pattern of hoping to drive considerable expansion projects from the foundation. The revelation is expected to excite crypto enthusiasts, especially SOL users, as they will be motivated to keep a close tab on the cryptocurrency, with hopes that events eventually unfold positively.

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Read Also: Solana Co-Founder: People Will Stop Using Bitcoin If It Doesn’t Move To Proof of Stake

Meanwhile, in other news, renowned crypto influencer Ben Armstrong, popularly known as Bitboy, dropped Solana’s price prediction for the year. 

The crypto influencer envisioned a bullish price trajectory for Solana (SOL), predicting a potential $1,000 price high for the token in 2024. Intriguingly, Bitboy noted that the $1,000 price target won’t be Solana’s peak price for the year, adding that the coin boasts the potential to soar above $1,000.

Per SOL’s data on Coincodex, the digital asset is changing hands at approximately $95.74, reflecting a 1.8% jump in price in the past 24 hours.

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The post Does Solana (SOL) Ever Require Layer-2 Solutions? Co-Founder Yakovenko Explains appeared first on Times Tabloid.

Yakovenko took to X to express his concern about the detrimental impact of the “ETH killer” narrative, which he believes fosters unnecessary animosity within the blockchain ecosystem. He advocates for a more collaborative approach, emphasizing that protocols can coexist and compete healthily without the need for adversarial positioning.

Read Also: Solana (SOL) Projected To Capture 20% Of Ethereum Market Cap To Hit $453. Here’s when

“Pareto efficient technologies can have overlapping features and will compete, but that’s all ok,” Yakovenko asserted. “I don’t see a future where Solana thrives and somehow ETH dies.”

Don’t bring back last cycle “eth killer” bs. It’s lame. Pareto efficient technologies can have overlapping features and will compete, but that’s all ok. I don’t see a future where solana thrives and somehow eth dies. I am such a techno optimist that I am certain that…

— toly (@aeyakovenko) December 2, 2023

Potential for Interoperability

Yakovenko expressed optimism about the potential of Danksharding, an Ethereum rollup scaling solution, to accommodate Solana’s data in the future. This potential for interoperability further reinforces the notion that protocols can coexist and complement each other’s strengths.

Yakovenko’s stance against the “ETH killer” narrative extends beyond mere words. He has actively discouraged community members from engaging in divisive rhetoric that could undermine the overall blockchain ecosystem.

In response to MakerDAO Co-founder and CEO Rune Christensen’s plans to fork the protocol’s NewChain on the Solana blockchain, Yakovenko urged the Solana community to refrain from using this as an opportunity to attack Ethereum. Instead, he emphasized the positive implications of open-source collaboration.

“I really hope that people in the Solana community don’t use this as some cudgel to attack Ethereum,” Yakovenko cautioned.

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Read Also: Solana Co-Founder Says “We Want To Synchronize the World at the Speed of Light”

A Vision for the Future

Yakovenko’s vision for Solana extends beyond mere technical prowess. He envisions a future where Solana facilitates seamless communication and transactions, free from the constraints of traditional intermediaries and centralized control.

Yakovenko’s message serves as a timely reminder that the blockchain industry should prioritize collaboration and innovation over divisive rhetoric. His vision of a harmonious ecosystem where protocols coexist and thrive holds immense promise for the future of decentralized technologies.

In a world increasingly interconnected, embracing unity and fostering open-source collaboration will be crucial to unlocking the full potential of blockchain technology and realizing its transformative impact on society.

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In a recent interview on Token Terminal’s YouTube channel, the Solana co-founder said he is optimistic that the blockchain is capable of handling the world’s needs in relation to blockchain technology.

Read Also: Solana Co-Founder Says “We Want To Synchronize the World at the Speed of Light”

In the course of the conversation, Yakovenko said although Solana has all it takes to manage a huge number of users, it still lacks the applications that could attract larger numbers of users.

“I can definitely see [Solana] handling all of the world’s needs because when you look at today’s bandwidth infrastructure around data centers, the one gigabit is the free tier. You get a box, they give you one gigabit for free and it costs less than a dollar per terabyte of egress right now, so bandwidth is ridiculously cheap right now…

“Every two years there’s a new generation, so from my perspective, I think we can already handle hundreds of millions of users and we have an abundance of capacity. We don’t have the applications to actually attract those users yet…

Read Also: Everything You Should Know About the Solana-Powered Web3 Smartphone, Saga

“Helium created close to a million IoT (Internet of Things) hot spots, that’s really cool. Think about virtual tokens moving around between people with cryptography impacting the physical world, there’s literally a close to a million antennas generated from that, and they’re going to attempt to do the same thing with 5G.

“Hivemapper, on the other hand, is trying to map the entire world like Google Street View and there’s 60 million kilometers in the world. They’re already at [a] 2 million kilometers map, they just crossed that, they’re growing.”

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In an interview with Austin Federa, head of communications at Solana Foundation, during Breakpoint Lisbon 2022, Yakovenko discussed how the blockchain project strove to maintain uptime, especially in June this year.

Read Also: Solana Unveils First Physical Store Dedicated to Web3 in New York City

He then analyzed Solana’s four biggest problems, stating that if they are successfully solved, the ultimate goal of the blockchain will be realized.

Sharing the major goal of Solana, Lisbon, he said, “We want to synchronize the world at the speed of light.”

According to Yakovenko, the implementation of the second client of the Solana blockchain, with a different code base, should be able to prevent further issues on the network.

He said, “The probability of the same kind of bug incurring in both is probably zero.”

Solana co-founder also discussed issues with spamming on the network, which can be attributed to the low transaction fees it offers. He mentioned that a number of projects, such as QUIC, have helped in preventing the issue.

Read Also: Everything You Should Know About the Solana-Powered Web3 Smartphone, Saga

The biggest of the challenges mentioned by the Solana co-founder is how to have multiple block producers operate simultaneously. He said if this major issue can be resolved, it should be able to drastically improve the speed of the network.

Other three major issues highlighted by Yakovenko are (1) formal verification, which refers to the security guarantees on the network (2) type-rich bytecode, which refers to how different parts of the network talk to each other (3) dynamic pricing for storage, a way for validators to manage how much the Solana blockchain grows in size.

Yakovenko also hopes to see the separation of the block production process from the transaction execution process.

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In a recent video shared on Twitter by a supposed Cardano (ADA) enthusiast, Solana co-founder Anatoly Yakovenko spoke about the reason why the Cardano network hasn’t faced any major issues since its inception, unlike Solana network.

Read Also: Charles Hoskinson: Cardano (ADA) Is Well-Built To Last for Everyone

According to the Solana co-founder, Cardano has been slow at releasing big updates because its developers do not kiss a couple of frogs while building. This implies that Cardano’s team of developers did not choose to cut corners in the course of building.

The user tweeted, “Solana co-founders lady’s and gentleman. Describing why Cardano isn’t completely broken like Solana. His secret “you’ve got to swallow”

Solana co-founders lady’s and gentleman. Describing why Cardano isn’t completely broken like Solana. His secret “you’ve got to swallow” @IOHK_Charles @cardano_whale @Darth___ADA @TheADAApe pic.twitter.com/xgnVVBH2eQ

— Darth Boomer (@spudiot1) June 2, 2022

Charles Hoskinson Reacts to Anatoly Yakovenko’s Comment

Reacting to Anatoly Yakovenko’s comment, Charles Hoskinson said Cardano’s developers chose to write code carefully to avoid mistakes because billions of dollars worth of investors’ funds are at stake.

Charles Hoskinson tweeted, “So the primary criticism is that Cardano writes software carefully when billions of dollars are at stake from millions of users and thousands of businesses rely upon the infrastructure for their livelihood? I’d love to see these guys build a hospital”

So the primary criticism is that Cardano writes software carefully when billions of dollars are at stake from millions of users and thousands of businesses rely upon the infrastructure for their livelihood? I'd love to see these guys build a hospital. https://t.co/xjAmF7HPiu

— Charles Hoskinson (@IOHK_Charles) June 2, 2022

Read Also: Charles Hoskinson: Cardano’s TVL Would Have surpassed $19 Billion If Staked Tokens Were Counted

Hoskinson Mocks Solana for another Outage

Some hours after Solana was hit by another outage that shut down its network for about 5 hours, Hoskinson mocked Solana by comparing its network to an old Nintendo game.

The Cardano creator shared a YouTube link on Twitter showing steps to get an old Nintendo game working. He then suggested that Solana developers should follow the steps in the video to revive the network.

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The post Hoskinson to Critics: Cardano Developers Write Code Carefully To Protect Investments worth Billions of Dollars appeared first on Times Tabloid.

In a recent interview on CNBC with Kate Rooney, Yakovenko stated that it’s necessary for the flagship cryptocurrency Bitcoin to transition to an environmentally friendly consensus mechanism to maintain its popularity and usage.

Anatoly Yakovenko noted:

“This is probably the most controversial thing that you’ll get me to say but eventually if it [Bitcoin] doesn’t move to proof of stake, nobody is going to use it.”

It’s More Efficient to Build a Proof of Stake (PoS) Network

The Impacts of Bitcoin mining on the environment are part of his reasons for suggesting a transition to the PoS network. In the course of the interview, Solana’s co-founder pointed out that it’s simply more efficient to build a proof of stake consensus mechanism, adding that it offers the same level of protection as the energy-consuming proof of work (PoW) network.

Yakovenko noted that Bitcoin’s nature as PoW crypto makes it thrive as a store of value rather than a suitable means of payment, unlike the rising layer-2 ecosystem. He said, “maybe that works for now but we’ll see what happens in ten years.”

It should be noted that Bitcoin was launched as a proof of work crypto in order to protect and prevent the network from double-spending. But these always result in huge consumption of energy.

According to the report recently published by the Solana Foundation, one transaction on the Bitcoin network consumes 6,995,592,000 Joules. On the other hand, one transaction on the Solana network consumes 2,707 Joules.

Chris Larsen, Ripple co-founder, who is currently the Executive Chairman of Ripple’s board of directors, is also in support of the suggestion. As reported in early April, Larsen promised to donate $5 million to the initiative.

Larsen and others even went as far as launching a campaign titled “Change the Code, Not the Climate” in order to canvass support for the initiative.

Speaking about Solana being energy-efficient, Yakovenko said, “I spent most of my career making code as energy-efficient on mobile as I could and I would be ashamed if Solana wasn’t as energy-efficient as possible.”

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