The Ethereum killer storyline part 2 might be beginning

markm

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Quote from: ? on Today at 07:38:11 AM

I believe Solana has the capacity to flip Ethereum. At least the owner and lead developer of Solana believes in the project unlike Ethereum where the owner Vitalik Buterin is dumping ethereum

Oh dirty trick! Well played!

Wasn't he, though, supposedly trying to help it by setting it free-er to become less potentially centralised, if not quite as well playing that as Satoshi did being as how it was a little late in the game to magically turn out to have been anonymous all along?

-MarkM-

?

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I believe Solana has the capacity to flip Ethereum. At least the owner and lead developer of Solana believes in the project unlike Ethereum where the owner Vitalik Buterin is dumping ethereum

Abiky

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Quote from: hugeblack on October 01, 2024, 04:47:33 AM

Isn't Solana the same project that has been down for hours several times? And if there is a huge increase in smart contracts, the blockchain will stop and transactions will not be processed? The bet on Solana comes from the fact that its price has increased recently, and if the same thing happened to projects like ADA or DOT, you will find similar articles, but in the end, Ethereum's value is still far from all altcoins.

Well, the makers of "Firedancer" (a third party node software for Solana) claim it will make SOL more reliable for daily payments. It will solve the network outages once and for all. If true, Solana would be poised to take a large share of Ethereum's market dominance. But that's it.

Regardless of how Solana improves, Ethereum will still remain #1 because of its first-mover advantage on the market. Just like Bitcoin. Again, VanEck is being too optimistic. This is expected from a company who's heavily-invested in the project. The market will decide which coins stay afloat and which ones will die in the long run. As long as there's demand for SOL, don't expect it to go anywhere soon. Who knows what the future holds for the cryptocurrency? Cheesy

markm

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Maybe it is coming to be, or coming toward, time to improve terminological precision.

If one were to utilise, say, three terms: altplatform, altcoin, alttoken...

Might it not turn out to be the case that although ETH is the number one altcoin...

...Bitcoin could be fighting to become the number one altplatform?

(Implying, of course, that ETH is no altplatform but the platform to which others are alt.)

((For any insufficiently advanced bots: duh yes I mean bitcoin is not number one vs eth as a platform.))

-MarkM-

hugeblack

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Isn't Solana the same project that has been down for hours several times? And if there is a huge increase in smart contracts, the blockchain will stop and transactions will not be processed? The bet on Solana comes from the fact that its price has increased recently, and if the same thing happened to projects like ADA or DOT, you will find similar articles, but in the end, Ethereum's value is still far from all altcoins.

Abiky

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Quote from: bbc.reporter on September 25, 2024, 10:43:44 PM

It appears that this storyline of Ethereum killers will come very much similar to a Netflix show with different seasons during bull markets hehehehe.

The report is very simple and short, however, the title will be very much disliked by the Ethereum community.

Solana’s technological prowess could propel its market cap to reach half of Ethereum, according to a recent report from VanEck’s Market Vector. The report also projects that Solana’s price may rise to $330, which means an increase of over 50% from its current level.

“Based on third party research, Solana has the potential to reach 50% of Ethereum’s market cap, with predictions placing SOL at a price of USD 330,” the report wrote.

“These forecasts are derived from technical models available on platforms like TradingView, suggesting a possible seismic shift in the cryptocurrency landscape if this market cap increase occurs,”

As detailed, the layer 1 (L1) blockchain outperforms Ethereum in terms of key metrics like transaction capabilities, user base, and transaction fees.

Read in full https://finance.yahoo.com/news/solana-could-hit-50-ethereums-200600304.html

This is the report from VanEck and the source of the article.

https://www.marketvector.com/insights/mvis-onehundred/eth-vs-sol

I appreciate VanEck's enthusiasm. But the thing is, Solana isn't as reliable as Ethereum is. It has been a constant victim of network outages in the past. Besides, Ethereum is the one smart contract platform that started it all. The concept of Web 3.0 wouldn't have existed without Ethereum. It's a blockchain network that has an ever-growing ecosystem of dApps, tokens, and services alike. The EVM has been tried-and-tested over the years. Solana's EVM counterpart is just getting started. How could it reach a market cap half of Ethereum's? I'd say that's impossible.

Right now, SOL is being heavily-used for the issuance of new "meme" coins (tokens). All of the buzz are on "memes" such as WIF, BONK, and the likes. NFTs are still dominant on the ETH blockchain, despite SOL's performance and cost-efficiency. The market will decide which coin stays afloat, and which one will go all the way down the drain in an instant. With ETH getting cheaper and faster to use thanks to subsequent network upgrades, what use will alternative L1 networks like Solana have? Just my opinion. Grin

bbc.reporter

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Quote from: Dave1 on September 26, 2024, 12:33:31 AM

I don't know mate, throughout crypto's supposedly storyline, there are not success so far,

a. There is this thought that Ethereum is the so called Bitcoin killer, as it overtake Bitcoin in early to mid 2018, but that didn't happen, and others dub it "the Flippening"

b. Ripple as well, in the same breathe that time, that it will overtake Bitcoin, "The Rippening" as they dub it.

Both didn't succeed, so I doubt that by 2024, we could be hearing this so called "X" killer mentality, in my opinion. SOL is just hype, just like ADA in 2020 and others who had their chance to challenge Ethereum before.

Agreed. This is certainly why I mentioned that it appears to be something similar to a Netlfix show that has different seasons hehehe. This blockchain killer storyline has become a bull market indicator because this has been repeating during each beginning of a bull market.

@o48o. However, higher TPS is beginning to be an important argument for the success of other blockchains. The developers who created Arbitrum, Optimism, Base, ZKsync and these layer 2 blockchains have confirmed the argument.

Also, Solana cannot be compared the to vapor Cardano hehehehe. Much of the inflows for 3 months have been going to Solana, more developers are also going in Solana to create their dapps that need higher TPS to be useful for the people and their community has presently become much bigger.

Source https://app.artemis.xyz/flows

o48o

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Quote from: bbc.reporter on September 25, 2024, 10:43:44 PM

-cut-
As detailed, the layer 1 (L1) blockchain outperforms Ethereum in terms of key metrics like transaction capabilities, user base, and transaction fees.[/i]
-cut-

Haven't we already gone trough the fact how TPS is a terrible metric to use?

I don't have anything against SOL but just looking at transaction capabilities and fees is a lazy augmentation. Imho it's better to focus on the growing community and chart, because those are interesting and makes it more appealing to buy than eth.

But then again, i can't say i like lots of the winners in the chart these days, like bnb is near ath and trx has broken the ath while ago. I rather had all memecoins in top 10 and embrace the nonsense to be honest.

TastyChillySauce00

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I think solana has always have that thing required to surpass ETH at some point.

the community is so solid and everyone is bullish about the platform, moreover unlike ETH where they offload their scalability problem solana looks like it's doing quite well with the scalability issue, no need for L2 at all which in a nutshell just funded massively by venture capital and angel investors.

at some point I also think that solana ETF if ever approved will be huge, unlike ETH where the ETF just have too much outflow day by day LOL.

Personally I've invested some in solana, hopefully it yields great in the future.

ekotyo24

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It is interesting to follow the latest report from VanEck which predicts that Solana could reach a market capitalization of 50% of Ethereum. If the $330 price prediction for SOL comes true, this will certainly be a major development in the crypto world. However, as you mentioned, this report could trigger a negative reaction from the Ethereum community, especially with the always touchy “Ethereum killer” narrative.

Solana is superior in some technical aspects such as transaction speed, lower fees, and a rapidly growing user base, but Ethereum still has a much more mature DeFi and NFT ecosystem. Most likely, this development will create increasingly intense competition between the two, similar to the serial drama that develops during bull markets.

Dave1

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I don't know mate, throughout crypto's supposedly storyline, there are not success so far,

a. There is this thought that Ethereum is the so called Bitcoin killer, as it overtake Bitcoin in early to mid 2018, but that didn't happen, and others dub it "the Flippening"

b. Ripple as well, in the same breathe that time, that it will overtake Bitcoin, "The Rippening" as they dub it.

Both didn't succeed, so I doubt that by 2024, we could be hearing this so called "X" killer mentality, in my opinion. SOL is just hype, just like ADA in 2020 and others who had their chance to challenge Ethereum before.

bbc.reporter

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It appears that this storyline of Ethereum killers will come very much similar to a Netflix show with different seasons during bull markets hehehehe.

The report is very simple and short, however, the title will be very much disliked by the Ethereum community.

Solana’s technological prowess could propel its market cap to reach half of Ethereum, according to a recent report from VanEck’s Market Vector. The report also projects that Solana’s price may rise to $330, which means an increase of over 50% from its current level.

“Based on third party research, Solana has the potential to reach 50% of Ethereum’s market cap, with predictions placing SOL at a price of USD 330,” the report wrote.

“These forecasts are derived from technical models available on platforms like TradingView, suggesting a possible seismic shift in the cryptocurrency landscape if this market cap increase occurs,”

As detailed, the layer 1 (L1) blockchain outperforms Ethereum in terms of key metrics like transaction capabilities, user base, and transaction fees.

Read in full https://finance.yahoo.com/news/solana-could-hit-50-ethereums-200600304.html

This is the report from VanEck and the source of the article.

https://www.marketvector.com/insights/mvis-onehundred/eth-vs-sol

Topic: The Ethereum killer storyline part 2 might be beginning (Read 129 times)