Despite the scalability and high gas fees facing Ethereum, the founder of EigenLayer, a liquidity recovery platform, says the network is superior, especially compared to Solana. Solana is the third most valuable shrewd contract platform after Ethereum and the BNB chain. In the years since its launch, it has swallowed more market share than Ethereum, strengthening its position.

Is Ethereum better than Solana?

While the importance of Solana is obvious, Sreeram Kannan, founder of EigenLayer, he argued in a post on X that Solana favors low latency and global node synchronization over other core features.

Ethereum, on the other hand, has taken a different approach, emphasizing the need for stability and decentralization. Therefore, according to Kannan, the first shrewd contract platform offers a more comprehensive solution than its competitor. According to EigenLayer, it currently manages over $12 billion in assets on Ethereum DeFiLlama.

While Kannan acknowledges Solana’s effectiveness, the founder points out some limitations now that the platform is building a global state machine. At the top of the list is blockchain’s dedication to programmability and testability.

Meanwhile, the EigenLayer leader believes that Ethereum is leading the way, particularly in terms of performance, thanks in part to the success of rollups and the resulting rampant adoption. This off-chain solution provides instant confirmation and is more productive than web2 applications.

At the same time, Ethereum is programmable, which allows EigenLayer to add more features, such as arbitrary decentralization of verifiable tasks. As a result, the recovery platform, Kannan adds, has enabled cloud-scale programming.

Tier 2 platforms are flourishing: : Why is ETH having problems?

Celestia co-founder Mustafa Al-Bassam, too appreciates what Ethereum brings that is not available in other networks or is underdeveloped. In a post on X, Al-Bassam said the first shrewd contract platform is “underrated.”

In particular, the co-founder praised Ethereum’s flourishing bundle ecosystem, saying it is “by far the largest and most successful.” As of September 30, L2Beat data shows that Ethereum’s Layer 2 ecosystem manages over $38 billion, with Arbitrum and Base among the largest platforms.

Even as Base and other Ethereum Layer 2 platforms enjoy powerful interest, the native ETH currency is struggling to gain momentum. Daily chart shows bulls have not yet broken above the $2,800 level, although support remains at $2,400.

The degenerating growth momentum is partly blamed on the proliferation of Layer 2 scaling solutions. The network is becoming inflationary as more and more activity is redirected off-chain, and enhancements like Dencun are activated to make Layer 2 transactions even cheaper. I’m looking Ultra solid moneyless ETH is not set on fire.

Feature image from DALLE, chart from TradingView