Sideways Glance
“Sideways Glance”– a cartoon that illustrates competition between Solana and Ethereum for decentralized finance (DeFi).
Ethereum currently hosts most decentralized finance apps, exchanges, DAOs, and metaverse platforms.
However, Solana (which raised $314M in 2021) has developed a new approach that results in higher transaction speeds and lower costs compared to Ethereum.
While Solana has achieved over 1,600% increase in the SOL token since early 2021 the amount of assets is still 5x less than Ethereum.
One of the key events to determine the next stage in this rivalry is Ethereum’s delayed launch in late 2022 of Ethereum 2.0, which plans to improve scalability, security and sustainability.
JP Morgan is not so sure, in a recent report it predicts that Ethereum’s DeFi supremacy is in jeopardy because the improvements are emerging too late.
