Solana and Ethereum can coexist in tokenization race: Dragonfly VC

Solana and Ethereum volition some thrive successful the tokenization contention and neither blockchain volition propulsion the different retired of the space, says Dragonfly wide spouse Rob Hadick.

“They are some Facebook,” Hadick told CNBC’s “Squawk Box” connected Wednesday, erstwhile asked which blockchain volition summation marketplace dominance similar societal media level Facebook oregon autumn down similar the once-popular MySpace.

Hadick said that with increasing involvement successful tokenization and expanding economical enactment onchain, there’s country for aggregate blockchains to coexist. 

“There’s a batch of country successful this market. If you judge that astir assets are going to beryllium tokenized, if you judge determination is going to beryllium a important magnitude of economical enactment on-chain [...] You can’t conscionable person 1 blockchain,” helium said.

No azygous blockchain tin win

Hadick said that “most stablecoins” are presently connected Ethereum and that is wherever the bulk of on-chain economical enactment exists.

However, helium said Solana handles astir trading volume, making it “more optimized for that benignant of transaction flow.”

There is simply a important spread betwixt the 2 blockchains successful presumption of web plus value. Ethereum’s web plus value, including stablecoins, stands astatine $183.7 billion, portion Solana’s, besides including stablecoins, is $15.9 billion, according to RWA.XYZ data.

Ethereum has the largest web plus worth among the blockchain networks. Source: RWA.XYZ

Hadick said that it is improbable for 1 blockchain to go the lone one, arsenic nary azygous concatenation tin “scale ample enough” to instrumentality that role. 

“I deliberation we’re going to spot antithetic usage cases connected antithetic blockchains,” helium said. He besides acknowledged the anticipation of caller blockchains emerging and taking marketplace share.

Crypto platforms power and alteration betwixt blockchain networks

Some crypto platforms person been switching betwixt the 2 blockchains arsenic their concern needs change.

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Fantasy sports crypto level Sorare announced successful October that it would migrate from Ethereum aft six years, capitalizing connected Solana’s scalability and consumer-focused idiosyncratic base. The institution volition determination implicit 10 sports games and their trading cards to Solana. 

Sorare CEO Nicolas Julia said helium is inactive feeling assured successful Ethereum adjacent though helium called the modulation an “upgrade.” 

Anthony Bassili, the president of Coinbase Asset Management, told Cointelegraph successful November that portion Bitcoin (BTC) and Ether (ETH) inhabit the archetypal and 2nd positions successful the mean crypto portfolio, Solana (SOL) is simply a imaginable “maybe” for 3rd place.

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