Solana News: SOL Emerges As Ethereum Successor: Celestia COO

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Solana News: SOL Emerges As Ethereum Successor: Celestia COO – Crypto News

Published

1 year ago

March 28, 2024

Dripp

In a recent statement, Celestia’s Chief Operating Officer (COO), Nick White, made waves in the blockchain community by boldly declaring Solana (SOL) as the heir to Ethereum’s (ETH) throne. White’s declaration comes amid Solana’s remarkable performance in the realm of blockchain scalability and adoption.

Celestia COO Lauds Solana’s Potential

Drawing parallels between Solana and Ethereum, White emphasized the striking similarity in the filling of blocks on both networks. He stated, “Solana’s blocks are filling up like Ethereum’s.” This underscores the significance of Solana’s rapid adoption and burgeoning transaction volumes.

White’s confidence in Solana’s potential as the next Ethereum is further boosted by insights from a Solana blog post. Posting a screenshot from the blog, he highlighted the network’s impressive compute capacity. The Celestia COO spotlighted that recently the blocks reached a total compute cap of 48 million CU during periods of congestion.

Moreover, the blog outlined strategies for optimizing program efficiency to accommodate increased transaction throughput, showcasing Solana’s commitment to scalability and user accessibility. Hence, White’s admiration for Solana’s achievements shone throughout his statement as he urged observers to “admire and respect” the network’s monumental strides in blockchain technology.

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SOL Co-founder Provides Insight

Earlier, last week, the co-founder of Solana Labs adopted a friendly approach toward Ethereum volumes following SOL DEX’s achievement of reaching a $50 billion trading milestone. Data released on Saturday revealed that Solana DEX volumes rivaled those of Ethereum DEX. Moreover, it indicated a surge in trading activity driven by notable expansion of Solana’s market cap.

The volume of transactions on the Solana blockchain DEX reached an all-time high at the time. Furthermore, this uptick aligned with the recent trend of significant growth in the cryptocurrency market over a short period. In addition, the surge followed the previous week’s data, which indicated that Solana’s weekly DEX volume exceeded $13.3 billion.

At the time, the trading volume stood at $50 billion, according to DeFiLlama dara. This underscored the increasing importance of blockchain technology in the decentralized finance (DeFi) sector.

Also Read: 2 Top Reasons Why Ethereum Price Poised For $500 Dump To $3k This Week