Loading...

Solana vs Ethereum: Battle lines drawn over meme coin legitimacy

TL;DR

  • Solana CEO taunted Ethereum founder over meme coins.
  • Argued meme coins attract builders, contrary to the “disaster” view.
  • Highlights Solana-Ethereum rivalry over meme coin legitimacy.

Raj Gokul, co-founder and CEO, repeated his optimistic view about these coins and described many investors’ negative approach as overthinking. Moreover, a taunting line directed at Vitalik Buterin, the founder of Ethereum, was also touched up, and his image was used to make it understandable. 

Crypto chiefs at odds

Gokul started his post with a sarcastic comment. “Memes coins chase away serious builders,” he said, symbolically exposing the widespread opinion of the growing acceptance of meme tokens. Finally, he shifted his strategy and attacked Buterin directly with his next question – “May I remind you about the “serious builder” who started all this?” With the attached picture (that appeared to be blurred) behind his statement, it became clear where he stood within the Ethereum United community. 

He said that Chinese journalist Colin Wu has already released some nuances about the Shiba incident concerning Gokul’s words on the impact of meme currencies. In a thread addressed to his blockchain network, Wu stated that 16z crypto CTO Eddy Lazzarin believes meme coins are technically uninteresting. He said that they are a “disaster” as they draw attention that is more from “the public,” “regulators,” and “entrepreneurs” in the crypto sector.

Meme coin mania fuels the blockchain battle

At worst, it risks bidding up memcoins to a bubble and their eventual demise when the market fundamentals are ignored. For instance, either of these illusions – either a fake promise laying beneath a fake casino. This issue has a major influence on the adoptions, regulations/laws, and manner of building. 

To add to the worries among enthusiasts of crypto enthusiasts about the objective and fourth direction, memecoins are becoming unimportant technically speaking. Nevertheless, Gokul’s recent social media write-up represents the rivalry between Solana and Ethereum. As well the line goes, Lily Liu, the president of the Solana Foundation, also endorses Gokul’s views. She praised memecoin builders as “awesomely smart and diligent people.”

DisclaimerThe information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Share link:

Benson Mawira

Benson is a blockchain reporter who has delved into industry news, on-chain analysis, non-fungible tokens (NFTs), Artificial Intelligence (AI), etc.His area of expertise is the cryptocurrency markets, fundamental and technical analysis.With his insightful coverage of everything in Financial Technologies, Benson has garnered a global readership.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Robinhood aims to reach a wider audience
Cryptopolitan
Subscribe to CryptoPolitan