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Recently Solana came into the news when co-founder Anatoly Yakovenko highlighted the end goal the network is seeking. On 13th September, 2022, Yakovenko was in an interview with YouTuber Scott Melker. During the interview, Yakovenko talked about his anticipation of Solana, specifically about its speed.
He said that the speed of the Solana blockchain will make it establish itself as a system that will act as a benchmark for overall data related to global finance. Meanwhile it will also remove every potential inefficiency within the market.
Needless to say, the smart contract enabled blockchain network of Solana is one of the top contenders when it comes to being an Ethereum (ETH) rival.
Yakovenko said his idea was more of a science fiction inspired end goal for the Solana network. The news travels around the world quite faster and the transitions of state also follow at a similar speed. He took an example of when some news around the price of some entity picked up by Bloomberg in New York, Solana should also be reflecting the price at the same time.
When a trader goes through the prices at platforms like New York Stock Exchange, he would also find the same data on Solana altogether. This simply implies use of no real arbitrage for the process and it requires a whole lot of work. He shared the insight that the team simply makes a joke about it that if they have to do it then they will create a communication between the nodes based on neutrino. To achieve the anticipated low latency, this would travel straight through the center of the earth.
Further Solana co-creators said Solana would need an adoption of some upcoming big application in large scale in order to become dominant around the space. He said if there would be potentially 100 million users around the applications based on the Solana network, this would act as their win.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
