Anatoly Yakovenko on Solana’s Astounding Recovery and Its Future Plans - Ep. 578
Unchained Unchained
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 Published On Dec 5, 2023

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Solana’s native token SOL has been one of the best-performing cryptos of the year, up more than 500% so far, but you wouldn’t have guessed that would be the case given how closely tied the blockchain was to FTX, which held huge amounts of SOL and was a big supporter of the platform. The blockchain also experienced numerous outages in 2022. But Anatoly Yakovenko, Solana’s co-founder, says the discipline imposed by FTX’s collapse, as well as improvements to the technology, have made Solana stronger.
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On this episode of Unchained, Yakovenko talks about the impact of FTX’s collapse, his early impressions of Sam Bankman-Fried, the SEC’s designation of SOL as a security, how entrepreneurs are leaving the U.S. because of the regulatory risk, SOL’s share of the stablecoin market, and why he thinks it’s inevitable that finance will eventually run on something like Solana.

Show highlights:
🔹How the Solana ecosystem weathered the FTX crisis
🔹How FTX’s collapse was like ripping off a band-aid for Solana
🔹Anatoly's initial impression of SBF as a “super genius”
🔹Why, despite SOL's strong 2023 performance, the Solana ecosystem hasn't experienced a corresponding growth in active developers
🔹What factors Anatoly believes contribute to the relatively low number of daily active wallet addresses in Solana
🔹How Solana addressed and rectified the outage issues that were so frequent in previous years
🔹Why Anatoly draws a parallel between Ethereum and Windows 95, and Solana and Windows 2000
🔹Why he's not worried about Jump Crypto building a client for the blockchain
🔹The ongoing debate within Solana on open-source versus closed-source culture, and the potential for future shifts
🔹How the Solana Foundation is handling the SEC's classification of SOL as a security
🔹Whether there's a trend of developers and founders relocating from the United States in search of a more supportive ecosystem
🔹Why Solana holds a low market share of stablecoins across various blockchains, and the implications of this trend
🔹Why Anatoly considers trading volume a more critical metric than Total Value Locked (TVL) in assessing blockchain success
🔹How Web3 gaming has been flourishing on Solana
🔹Why Anatoly is confident that DeFi will find its rightful place on the Solana network
🔹The future plans for the Saga phone after its market challenges
🔹What Anatoly thinks is the number one focus for Solana for the near term

Thank you to our sponsors!
➡️LayerZero
➡️Popcorn Network
➡️Arbitrum Foundation

Guest:
⭐️Anatoly Yakovenko, Co-founder of Solana Labs

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Time Stamps:
00:00 Introduction
00:30 Solana's response to the FTX crisis
05:20 SOL’s resilience
10:20 Sam Bankman-Fried and his relationship with Anatoly and Solana
12:46 Key moments and projects for Solana in 2023
14:16 Why the number of active developers on Solana has declined
16:59 The low number of daily active wallet addresses on Solana
17:57 How Solana nearly eliminated outages
23:22 A multi-client ecosystem
24:47 Why Solana has a closed-source culture
27:50 Is SOL a security?
30:00 Developers and founders leaving the U.S.
33:21 Stablecoins on Solana
36:10 Why Anatoly doesn’t think TVL is as representative a metric as volume
41:00 Web3 gaming
42:30 NFTs: Inscriptions on Solana
45:23 Solana’s future outlook
49:21 The failure of the Saga phone
52:54 Solana's roadmap


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#bitcoin #ethereum #crypto #cryptocurrencies
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