In a current weblog put up by Placeholder VC, the agency drew a placing analogy between main layer-1 (L1) blockchain ecosystems Ethereum and Solana, evaluating them to Android and iOS respectively. Written by Joel Monegro on October 10, 2023, the put up offers insights into the distinctive attributes and future trajectories of each blockchain platforms.
Why Ethereum Is Like Android
Drawing a parallel to Android’s open and various ecosystem, Ethereum is highlighted for its modularity and widespread adoption. Monegro notes that simply as Android runs on a plethora of gadgets manufactured by varied firms world wide, Ethereum is “changing into extra of a platform for third-party networks than the place the place most end-users and builders function.”
Quoting from the put up, “The fast-growing ecosystem of layer-2 (L2) networks utilizing Ethereum mainnet for safety or leveraging the Ethereum Digital Machine (EVM) as an working system already processes ~5-6x extra transactions than Ethereum mainnet.”
This increasing ecosystem displays the multiplicity seen in Android gadgets, with Ethereum’s affect doubtlessly encompassing “a whole lot of networks processing billions extra transactions than Ethereum mainnet.”
Monegro additional elaborates that the Ethereum Digital Machine (EVM) is about to bolster its dominance because the premier blockchain working system, orchestrating numerous networks and rollups that cowl an array of markets, sectors, and functionalities. Regardless that Ethereum’s mainnet may seize solely a phase of this expansive worth, the platform is poised to reap important benefits from the broadening ecosystem.
Regardless of the advantages, Monegro factors out challenges harking back to Android’s points, stating, “Ethereum sensible contracts aren’t assured to run seamlessly on all of them by default, and builders need to spend further time tweaking, testing, and sustaining for various environments.”
Why Solana Resembles iOS
In distinction, Solana is likened to Apple’s iOS, acknowledged for its deal with integration and efficiency. Monegro explains, “Solana as a single, unified community is way quicker and cheaper than Ethereum and plenty of different EVM networks.” The seamless consumer expertise, diminished transaction speeds, and price efficiencies discovered on Solana mimic the constant and built-in consumer and developer experiences on iOS.
Nonetheless, Monegro emphasizes that this analogy, whereas instructive, is considerably superficial. He writes, “Which is completely, objectively ‘higher’ doesn’t matter; that debate won’t ever finish. Some folks will worth a modular philosophy’s flexibility; others will worth a extra built-in platform’s pace and ease.”
The put up culminates in an admonition towards market myopia. Drawing upon historic examples from the crypto and tech industries, Monegro states that whereas there have been instances when singular gamers like Bitcoin or Ethereum dominated, it’s a “mistake to imagine that the established order at any time limit will stay the identical ceaselessly.”
Monegro’s perspective underscores the notion that within the evolving panorama of blockchain know-how, each modularity and integration have their deserves. The overarching message appears to be one in all appreciation for variety, fostering a extra inclusive and vibrant crypto ecosystem.
At press time, Solana (SOL) traded at $22.07, down 1.4% within the final 24 hours.
Featured picture from Mudrex, chart from TradingView.com
