Solana Co-Founder Backs Meme Coins, Takes a Swipe at Buterin

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In a recent post on platform X, Solana co-founder Raj Gokal expressed his support for the meme coin frenzy while also taking a swipe at Ethereum co-founder Vitalik Buterin.

Gokal dissed common misconceptions about meme coins and emphasized the importance of embracing the various applications of permissionless systems, despite concerns from traditionalists. 

Solana Co-Founder Supports Meme Coins

The Solana co-founder acknowledged that memes might be scaring away serious builders, but quickly made his point clear by reminding Buterin, in particular, of the significance of these trends.

“May I remind you about the ‘serious builder’ who set all of this work in motion?” said Gokal.

While supporting the fervor surrounding meme coins, the Solana co-founder hinted that those who ignore these trends may struggle to succeed in the rapidly evolving field of cryptocurrency innovation. He stated, 

“You will just not make it here if you’re fragile enough to get spooked by how young people choose to use permissionless systems to have fun.”

Ethereum vs. Solana

The post also underscores the ongoing competition for supremacy in the decentralized finance (DeFi) field between Ethereum and Solana, two prominent blockchain networks. Buterin has yet to respond to Gokal’s remarks, leaving room for further discussion on the subject.

Gokal’s comments come at a time when Ethereum has been transitioning from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus mechanism. This transition has been the subject of much debate and internal strife within the Ethereum community. Gokal’s post was a direct response to an X post made by American businesswoman Amanda Cassatt.

Bitcoin, Ethereum, and Altcoins

Bitcoin, with an all-time high (ATH) of over $73,000, remains the most valuable cryptocurrency by market capitalization. Bitcoin uses the PoW consensus mechanism and has demonstrated notable performance over time. 

While Ethereum’s shift to PoS has faced resistance from some within the community, core developers maintain that this new mechanism will significantly enhance the blockchain’s performance.

Support for SOL

Recently, Fantom creator Andre Cronje has emerged as a supporter of the Solana network, reinforcing his stance on the ecosystem’s challenges amid rapid growth.

Further, the stablecoin transfer volume on the Layer-1 blockchain in January exceeded $300 billion, surpassing that of December. Meanwhile, a surge in decentralized finance (DeFi) activity was also recorded.

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