Solana

Solana co-founder presents Open Source as the key to fair finance

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Solana (GROUND) co-founder Anatoly Yakovenko recently made a strong case for the company’s potential to revolutionize fairness in finance. In response to Vitalik Buterin’s comments on the Bitcoin block size debate, Yakovenko emphasized that Solana’s approach is not to compete with existing currencies or settlement layers, but rather to improve accessibility and equity of financial systems through technology.

Solana Financial Vision Open Source Key

The speech between Yakovenko and Buterin informs a broader discussion about the direction of blockchain technology. Buterin, the co-founder of Ethereum, returned to the controversial subject

Bitcoin (BTC) block size war, highlighting that the initial debate was whether to increase the block size limit to allow more transactions and reduce fees. However, he noted that such changes could centralize the network, which contradicts Bitcoin’s fundamental principle of decentralization. He argues that Bitcoin should maintain its advantage as a decentralized currency, free from the heavy hand of any central authority.

In contrast, Yakovenko believes that low latency and high throughput can democratize access to financial services. He declares,

“Fairness in the financial sector depends on who can access information first and who can act on it. »

According to him, Solana’s technology leverages the most affordable hardware to push the boundaries of what decentralized systems can achieve, potentially eliminating many of the inequities of traditional finance.

Solana Co-Founder Supports Role of Meme Coin

Raj Gokal, another co-founder of Solana, also entered the fray with his views on the role of meme coins in the cryptocurrency ecosystem. Subtly targeting Buterin, Gokal defended the existence and growth of meme coins by highlighting their role in the diverse landscape of permissionless systems. He argued that these coins contribute to the ecosystem by attracting different types of users and developers despite the skepticism they face from cryptocurrency purists.

Gokal also highlighted the community’s mixed feelings towards meme coins, suggesting that while some view them as distractions, others view them as vital to the growth and evolution of the blockchain space. “Meme coins scare away serious builders,” Gokal remarked, urging the community to recognize the broader impact of these projects beyond their often frivolous façade.

Read also: American Bankers Association involved in big anti-crypto reveal

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