CandleFocus Ethereum's Justin Drake Sees No Threat From Solana, Says Its ‘Golden Era’ Will End
2024-12-04
Author: Content Editor
Ethereum developer Justin Drake has proposed an overhaul of the Ethereum network's consensus layer through a proposal called the Beam Chain. Despite Ethereum's lagging performance compared to other layer-1 blockchains like Solana, Drake stated that the Beam Chain is not meant to catch up with rivals but rather aims to improve the long-term health and security of the network. Drake believes that Ethereum should focus on competing with Bitcoin at the layer-1 level and leave competition against Solana to applications and layer-2 solutions. While Solana is currently experiencing a surge in popularity, Drake thinks its competitive advantages will diminish due to scalability issues. The Beam Chain is expected to be implemented by 2029 and is part of Drake's vision of creating an "internet of value" with a secure layer-1 and a thriving ecosystem of layer-2 solutions.
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