- Solana founders shared an optimistic news report, opining that recent developments propel Solana’s vision of a decentralized future.
- According to a recent Electric Capital Developer Report, Solana’s full-time developer numbers are second only to Ethereum (ETH).
- Solana (SOL) prices are yet to reflect if the founder’s optimism has sparked a similar disposition in the community.
On January 31st, 2023, Solana (SOL) Founders Anatoly Yakovenko and Raj Gokal published a report describing the “values” that have reportedly propelled the Solana ecosystem despite the market downturn throughout 2022.
The Electric Capital Developer Report confirmed that developers are flocking to Solana, with an impressive 83% growth year-over-year, which is “second in raw numbers only to Ethereum.”
Furthermore, more than 2,000 monthly active developers are building on Solana, most of which stem from organic community growth.
Since the Solana mainnet was launched in beta less than three years ago, the network’s high throughput and low fees have allowed developers to build projects, dApps, and tools that can only be built using the Solana network.
The developments have purportedly led to Solana’s vision of a decentralized future based on fair access to finance, freedom, and security without centralized financial authorities dictating society.
Solana Upgrades Lead Industry to Its Future Vision
The Solana founders look to lead the industry into their future vision with optimism, stating that:
“We believe these changes are positive ones overall that will lead the entire industry to realize its future vision. We have never felt more optimistic about this future.”
The decentralized network has improved performance capabilities due to a series of upgrades on the Solana ecosystem. Increased transaction sizes and a live compact vote state to store and transmit less data on nodes are among the improvements made to the network.
According to the Founder’s release, the stability and strength of the Solana network have shown resilience even amidst times of market volatility, such as November 2022 or the January 2023 “Bonk craze.”
The Solana founders assert that the cryptocurrency industry is antifragile, and in their opinion, hostile attacks actually serve to make a network more robust. They further opine that bear markets have similarly positive effects, which they believe has proven to be true for Solana, among other ecosystems that have survived the crypto winter and experienced sustainable growth relative to prolonged downtrends.
On the Flipside
- At the time of writing, the optimistic news by Solana founders is not visibly reflected on the charts, with Solana (SOL) currently trading at $23.30 USD, a 0.94% decline from its seven-day high of $26.46 on January 29th, 2023.
- The swift decline in the value of the Solana network calls into question the robustness of blockchain technology and the longevity of decentralized exchanges.
- The Solana network has suffered numerous outages in the past, which is perhaps the root cause of concerns about the network’s robustness.
Why You Should Care
The reasonable growth displayed by Solana illustrates that bear markets are how networks approach development. With the crypto winter still ongoing, it remains to be seen if Solana proves to be a network that thrives when the bull market kicks off.
Read more about Solana’s 24% increase, known as the BONK craze:
Solana up 24% – BONK Enthusiasm or Sustainable Growth?
Read more about Solana’s FTX recovery:
Solana (SOL) Back to Pre-FTX levels, Cardano’s (ADA) Ecosystem set to Expand, Snowfall Protocol (SNW) Set to Revolutionize the Industry With Unique Bridging Protocol