Ethereum co-founder Joseph Lubin, in an interview with the Financial Times, stands out as the Ethereum killer. witherevaluated the.
While the high transaction fees in Ethereum cause some of the capital to flow to other chains, Lubin stated that the key element here is sustainability.
Stating that users who verify transactions on the network in Solana, which claims to be faster and cheaper than Ethereum, are given too many rewards, Lubin said that this is unsustainable.
“Needs a Different Model”
“Solana must find a more sustainable model for the network. This is natural because all projects in the ecosystem are fake until they achieve something or die.”
Solana has faced a lot of criticism to date for sacrificing security for greater efficiency. Justifying these criticisms, Lubin said, “Looking at protocol revenues alone does not tell the story of the long-term performance of a blockchain economic model.” said.
Lubin runs the cryptocurrency software company ConsenSys, which is closely linked to Ethereum. Metamask developer ConsenSys announced today that it has increased its valuation to $7 billion after a $450 million funding round.
Also referring to the growth in cryptocurrencies, Lubin said, “We have crossed an important threshold in the transition to mainstream adoption compared to the darkest moments of Covid. There is a very different world in the ecosystem today.” said.