Solana: Its Meme Coin Craze, Growth and Vision With CEO Anatoly Yakovenko

03/21/24 • 42 min

Solana has seen remarkable growth and market capitalization, with its token soaring by 791% over the past year. Despite this surge, the factors driving the popularity and success of meme coins on the Solana network remain uncertain.

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In this installment of "The Protocol," hosts Brad Keoun, the founding editor of The Protocol Newsletter, and tech journalists Sam Kessler and Margaux Nijkerk, discuss the rise of Solana and the recent craze around meme coins on its platform with guest Anatoly Yakovenko, CEO of Solana Labs.

Anatoly delves into his journey into crypto and evaluates the sustainability of meme coin growth, probing its impact on Solana's network. He also tackles the challenge of failed transactions on Solana and outlines upcoming upgrades aimed at addressing priority fees and expanding block size. Throughout the discussion, Anatoly Yakovenko provides insights into Solana's comparison with Ethereum, its competitive landscape and ecosystem, scalability initiatives, roadmap, outage management, security measures, and the business model behind the Solana Phone.

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Takeaways |

Solana has experienced significant growth and market cap, with its token up 791% over one year.
Meme coins have gained popularity on Solana, but the reasons for their success are unclear.
The meme coin craze has stressed Solana's network, leading to a high number of failed transactions.
Solana is working on upgrades to address priority fees and improve transaction flow and scheduling. Solana is focused on execution and transmitting information quickly, while Ethereum is focused on settlement.
The visions of Solana and Ethereum are different, but they compete because of overlapping use cases and features.
Security in blockchain networks does not depend on the majority of the network, but rather on the cryptographic signatures and trust of entities like Circle.
The Solana Phone aims to disrupt app stores by offering an app store with no fees, allowing developers to save revenue and provide a better user experience.

EPISODE LINKS |

Solana

Anatoly Yakovenko and Solana Bounce Back

Solana Meme Coin Slerf Clocks Higher Trading Volume Than All of Ethereum

SOL Crosses $200 as Meme Coin Frenzy Bumps Demand for Solana Network

Solana-Based Crypto Exchange Drift Plans Pre-Launch Market for New Tokens

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This episode is sponsored by the Stellar Community Fund

Follow the show here for more.

Sign Up for THE PROTOCOL NEWSLETTER

Takeaways |

Solana has experienced significant growth and market cap, with its token up 791% over one year.
Meme coins have gained popularity on Solana, but the reasons for their success are unclear.
The meme coin craze has stressed Solana's network, leading to a high number of failed transactions.
Solana is working on upgrades to address priority fees and improve transaction flow and scheduling. Solana is focused on execution and transmitting information quickly, while Ethereum is focused on settlement.
The visions of Solana and Ethereum are different, but they compete because of overlapping use cases and features.
Security in blockchain networks does not depend on the majority of the network, but rather on the cryptographic signatures and trust of entities like Circle.
The Solana Phone aims to disrupt app stores by offering an app store with no fees, allowing developers to save revenue and provide a better user experience.

EPISODE LINKS |

Solana

Anatoly Yakovenko and Solana Bounce Back

Solana Meme Coin Slerf Clocks Higher Trading Volume Than All of Ethereum

SOL Crosses $200 as Meme Coin Frenzy Bumps Demand for Solana Network

Solana-Based Crypto Exchange Drift Plans Pre-Launch Market for New Tokens

From Our Sponsor:

Apply for Funding at communityfund.stellar.org

The Protocol has ...

Previous Episode

The Ethereum Dencun Upgrade Is Here

Tim Beiko from the Ethereum Foundation, shares the Importance of the Dencun Upgrade, what are their concerns, and Ethereum's long-term scaling strategy.

This episode is sponsored by the Stellar Community Fund

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In this installment of "The Protocol," hosts Brad Keoun, the founding editor of The Protocol Newsletter, and tech journalists Sam Kessler and Margaux Nijkerk, discuss the Ethereum Dencun upgrade, a significant upgrade for the Ethereum blockchain, with a special guest, Ethereum Foundation's Tim Beiko.

The upgrade introduces ephemeral data storage, known as blobs, which will reduce storage costs for layer twos and roll-ups. The Dencun upgrade is technology-neutral and does not favor any specific layer2 solution. However, there are concerns about the potential fragmentation of the Ethereum ecosystem and the shift towards less secure chains. Overall, the upgrade is an important step towards Ethereum's long-term scaling plans.

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Takeaways |

The Ethereum Decun upgrade introduces ephemeral data storage, known as blobs, which will reduce storage costs for layer twos and roll-ups.
The upgrade is technology-neutral and does not favor any specific layer two solution.
There are concerns about the potential fragmentation of the Ethereum ecosystem and the shift towards less secure chains.
The Dencun upgrade is an important step towards Ethereum's long-term scaling plans.

EPISODE LINKS |

Ethereum Finalizes 'Dencun' Upgrade, in Landmark Move to Reduce Data Fees

Ethereum.org

5 Things to Know About Ethereum's Latest, Greatest Upgrade: Dencun

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The Protocol has been produced and edited by senior producer Michele Musso and our executive producer is Jared Schwartz. Our theme song is “Take Me Back” by Strength To Last.

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Next Episode

Eigenlayer's Blueprint for a Decentralized Trust Network

Sreeram Kannan, the founder of Eigenlayer, discusses the initial 'training wheels' phase for Eigen DA, a data availability service, and the implementation of slashing and market mechanisms.

This episode is sponsored by the Stellar Community Fund

Follow the show here for more.

In this installment of "The Protocol," hosts Brad Keoun, the founding editor of The Protocol Newsletter, and tech journalists Sam Kessler and Margaux Nijkerk, dive into the innovative world of Eigenlayer. They explore the decentralized trust network's vision and technology in a conversation with Sreeram Kannan, the founder of EigenLayer.

The roadmap for Eigenlayer includes the launch of Eigen DA, a data availability service, and the implementation of slashing and market mechanisms. The project is currently on track for a mainnet launch in early Q2.

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Takeaways |

Eigenlayer enables developers to build new infrastructure services without the need for separate decentralized trust networks.
The system utilizes pooled security and attributable security to ensure the integrity and availability of services.
The roadmap for Eigenlayer includes the launch of Eigen DA, slashing, and market mechanisms.
Eigenlayer is on track for a mainnet launch in early Q2.

EPISODE LINKS |

EigenLabs CEO on Jump in User Deposits | Video | CoinDesk

About - EigenLayer

From Our Sponsor:

Apply for Funding at communityfund.stellar.org

The Protocol has been produced and edited by senior producer Michele Musso and our executive producer is Jared Schwartz. Our theme song is “Take Me Back” by Strength To Last.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.