Former Goldman Sachs manager Raoul Pal thinks that the Solana (SOL) blockchain has attracted attention as a prominent player in this period when the cryptocurrency world is rapidly evolving and innovations are coming one after another. Solana has been developing itself rapidly, especially recently, and this development process is described by Raoul Pal as rising like a rocket ship. Here are the details…
In a new interview with Scott Melker, Raoul Pal pointed out that the Solana (SOL) blockchain is growing rapidly and is preparing for significant developments. One of the factors supporting the altcoin rise is Firedancer, a new verification client developed for the Solana chain.
Koinfinans.com As we reported, Firedancer stands out as a technology that aims to greatly increase the scalability of the Solana blockchain. This new authentication client aims to significantly increase transactions per second (TPS) capacity, potentially reaching over one million TPS. This will further increase Solana’s current speed, allowing it to host more users and projects.
Pal made the following statement on the subject:
“I’ve been looking at the charts of the Solana-ETH (SOL/ETH) and Solana-Bitcoin (SOL/BTC) trading pairs for a while now and thought ‘this looks like a…rocket ship!’ What is going on here?’ I said.
I started researching and watching interviews with the Jump merchandising team that built Firedancer. I realized that this was a separate validator for Solana that increased the security of the entire network and yes, those speeds were correct because it was being built by people trying to create lightning speeds for high frequency trading…
Then I said ‘okay, this is a big deal’.”
On the other hand, it is not yet clear when exactly Firedancer will be available. At the time of writing, there is no official launch date yet.
Besides these, Pal had previously stated that Solana could repeat the bull market cycle of Ethereum (ETH) in 2021. He reiterated his stance that it may still be on track to do so in the upcoming market expansion for the altcoin.
You can follow the current price movement here.