Inside Solana's Plan to Replace Wall Street | Anatoly Yakovenko
Anatoly Yakovenko is the co-founder of Solana, the fastest scaled blockchain in the world.We start by talking about how non-US residents were trading SpaceX on Solana pre-IPO, and which parlayed into the last 130 years of US financial markets.We then get into how Solana is removing eight layers of middlemen that make-up the legacy financial system, whether you actually need to use blockchain to do this, the 4am inspiration to start Solana, how Solana was 10,000x faster than Bitcoin, why a16z passed on investing then paid a 1,000...
Solana's Anatoly Yakovenko on Crypto's Next Era: Quantum, AI, and the Future of Money
(0:00) Introducing Solana Co-Founder Anatoly Yakovenko
(0:55) Crypto under Trump vs Biden, stablecoin boom, what it means for US treasuries
(5:56) Traditional exchanges using blockchain vs crypto-native exchanges, how crypto gets mass market
(10:02) Most exciting crypto verticals outside of finance: social, IP rights, real estate, CLARITY Act
(15:57) Quantum computing, AI's impact on crypto
(18:48) Bitcoin: resiliency, market cornering, risks, future
(22:45) Ethereum, Visa/Mastercard
Thanks to our partners for making this happen!
OKX - The new way to build your crypto portfolio and use it in daily life. We call it the new money app. https://www.okx.com/
Google Cloud - The next generation of unicorns is building on Google Cloud's industry-leading, fully integrated AI stack: infrastructure, platform, models, agents, and data. https://cloud.google.com/
IREN - IREN AI Cloud, powered by NVIDIA GPUs, provides the scale, performance, and reliability to accelerate your AI journey. https://iren.com/
Oracle - Step into the future of enterprise productivity at Oracle AI Experience Live. https://www.oracle.com/artificial-intelligence/data-ai-events/
Circle - The America-based company behind USDC — a fully-reserved, enterprise-grade stablecoin at the core of the emerging internet financial system. https://www.circle.com/
BVNK - Building stablecoin-powered financial infrastructure that helps businesses send, store, and spend value instantly, anywhere in the world. https://www.bvnk.com/
Polymarket: https://www.polymarket.com/
Follow Anatoly:
https://x.com/aeyakovenko
Follow the besties:
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How to Build in Crypto: Lessons from 8 Leading Founders | Jesse Pollack, Jeremy Allaire, Anatoly Yakovenko & More
Do you think you’ve got what it takes to become a founder in crypto?
On the show today we’ve got 8 of crypto’s most famous and successful builders in crypto, each with about 15 minutes in time, giving you the wisdom they gained founding their own companies.
We’re joined by Jesse Pollack from Base, Jeremy Allaire from Circle, Anatoly from Solana, Stani from Aave, Kain from Synthetix, Mike & Jason from Blockworks, Kevin Owocki from Gitcoin and Lucas from Jito. Each one with their own perspectives, their own scars and hopefully by listening to this episode, you, the listener, can learn from their experiences to gain the confidence you need to venture into this world.
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------ ✨ Mint the episode on Zora ✨ https://zora.co/collect/base:0x4be6cd4d402fed49eb2de95fbc8e737e8ffd3e7f/8?referrer=0x077Fe9e96Aa9b20Bd36F1C6290f54F8717C5674E
------ TIMESTAMPS
0:00 Intro 2:52 Jesse Pollack - Base 15:45 Jeremy Allaire - Circle 34:53 Anatoly Yakovenko - Solana 51:00 Stani Kulechove - Aave 1:07:48 Kain Warwick - Synthetix 1:27:06 Mike & Yano - Blockworks 1:44:16 Kevin Owocki - Gitcoin 1:59:19 Lucas Bruder - Jito
------ RESOURCES
Jesse Pollack - Base https://x.com/jessepollak
Jeremy Allaire - Circle https://x.com/jerallaire
Anatoly Yakovenko - Solana https://x.com/aeyakovenko
Stani Kulechove - Aave https://x.com/StaniKulechov
Kain Warwick - Synthetix https://x.com/kaiynne
Jason Yanowitz - Blockworks https://x.com/jasonyanowitz
Mike Ippolito - Blockworks https://x.com/MikeIppolito_
Kevin Owocki - Gitcoin https://x.com/owocki
Onchain Capital Allocation Handbook https://allobook.gitcoin.co/
Lucas Bruder - Jito https://www.linkedin.com/in/lucasbruder/
------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures
The Chopping Block (feat. Anatoly): Solana's Second Act, SVM vs EVM, & Extension Dilemma - Ep. 724
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner slice into the juiciest topics in crypto. In this episode, the crew is joined by special guest Anatoly Yakovenko, the mastermind behind Solana, for a deep dive into the network’s evolution and future. The conversation kicks off with a look at Solana's rapid rise from its rocky early days to its current status as a blockchain powerhouse. They debate the role of memecoins in Solana’s ecosystem and whether they’re here to stay or just a passing craze. Next, Anatoly opens up about Fire Dancer’s impact on the network’s scaling and performance, sparking a broader discussion about vertical vs. horizontal scaling. Finally, they explore Solana’s ambitious push into the mobile space with the Seeker phone and its implications for the broader crypto industry. Packed with expert insights, bold predictions, and a few surprises, this episode is a must-listen for anyone following the future of blockchain.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.
Show highlights
🔹 Solana’s Rise: Solana’s journey from early turbulence to becoming a blockchain powerhouse.
🔹 Memecoin Frenzy: The explosive growth of memecoins on Solana and their impact on the ecosystem.
🔹 Fire Dancer Impact: How Fire Dancer could revolutionize Solana’s scalability and performance.
🔹 Vertical vs Horizontal Scaling: Is Solana’s vertical scaling approach stronger than Ethereum’s rollups?
🔹 Seeker Phone: Solana’s ambitious push into mobile with the Seeker phone and its potential disruption of the app store landscape.
🔹 ETHOS Phone: How does Ethereum’s new phone compare to Solana’s mobile vision?
🔹 Network Extensions: The introduction of network extensions and whether they align with Solana’s long-term vision.
🔹 App Chains: Could the rise of app-specific chains lead to fragmentation or strengthen Solana’s ecosystem?
🔹 Developer Experience: The challenges of Solana’s development environment and their impact on innovation.
🔹 Ethereum Rivalry: With both networks advancing, how is the competition between Solana and Ethereum shaping up?
Hosts
⭐️Haseeb Qureshi, Managing Partner at Dragonfly
⭐️Tom Schmidt, General Partner at Dragonfly
⭐️Tarun Chitra, Managing Partner at Robot Ventures
Special Guest
⭐️Anatoly Yakovenko, Co-Founder & CEO Solana Labs
Disclosures
Timestamps
00:00 Intro
02:56 TCB’s Criticisms
05:12 Evolution of Solana's Ecosystem
17:36 Solana's Competition
22:05 What Is Solana's Moat?
28:31 The Role of Atomicity and Composability
34:11 Network Extensions
44:20 First Mover vs. Second Cohort
48:44 Future of Asset Types and Content
52:49 Developer Experience and Token Implementations
1:00:38 Solana Phone vs. EthOS
1:09:16 Thoughts and Criticism
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The Ethereum vs. Solana Debate | Justin Drake vs. Anatoly Yakovenko
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------ 🎬 DEBRIEF | Ryan & David unpacking the episode: https://www.bankless.com/debrief-the-justin-drake-vs-anatoly-yakovenko-interview
------ Ethereum vs. Solana. That’s the debate we’re having today.
On Ethereum’s side we have Ethereum Researcher Justin Drake, and on the Solana’s we have Solana’s Co-Founder Anatoly Yakovenko.
They give us the good, the bad and the ugly of each other’s blockchain, settling their endgame towards the end of the episode.
This was one, if not the spiciest debate we had on the show. We tried our best to give both guests time with minimal intervention. At times went well, at others it caused deep semantic rabbit holes. But overall both guests were able to communicate their messages.
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------ TIMESTAMPS
0:00 Intro
7:16 The Good
22:30 The Bad
52:03 Global Shared State
1:06:07 Economic Security
1:30:08 The Ugly
1:47:23 The Endgame
1:55:22 Closing & Disclaimers
------ RESOURCES
Anatoly Yakovenko https://twitter.com/aeyakovenko
Justin Drake https://twitter.com/drakefjustin
------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures
Anatoly Yakovenko explains how Bonk contributed to the Solana phone's sellout success
In this episode of The Scoop, Anatoly Yakovenko, the co-founder of Solana, explains how a Bonk airdrop caused the Solana Saga mobile phone to sell out and discusses the importance of community and meme culture for bootstrapping crypto networks.
OUTLINE
00:00 Disrupting App Store Duopoly
06:10 Bonk Saga Airdrop
09:19 Memes & Community
14:51 Solana Saga
22:29 Saga Developer Experience
24:19 Solana Ecosystem Entrepreneurs
28:48 Solana's Roadmap
34:31 Real Wold Adoption
Solana 2024: Fee Markets, SVM Economics, and Saga Phone | Anatoly Yakovenko & Ben Sparango
In today's episode Jason and Santi are joined by Solana Labs founder and CEO Anatoly Yakovenko and Ben Sparango, the Head of Strategic Business Development. The duo has returned to discuss Solana's progress beyond the FTX fallout. They dive into Solana's priorities around scaling, fees, and alignment incentives between builders and validators. Anatoly elaborates on the network effects of open-sourcing core technology like the SVM, while Ben highlights mobile adoption and NFTs as driving new crypto demand. They debate the trajectory for permissionless finance to run mainstream markets on Solana, and whether the Saga phone can make a dent in Apple and Google's distribution monopolies. We hope you enjoy!
- -
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Secure your wallet for free at harpie.io.
- -
Join us at DAS (Digital Asset Summit) in London this March! DAS is the #1 institutional conference in crypto, hosted by Blockworks.
Use the link below to learn more, and use EMPIRE10 to get 10% off your ticket! Sign up now because the price goes up every month. See you there!
Learn more + get your ticket here: https://blockworks.co/event/digital-asset-summit-2024-london/home
- -
Timestamps
(02:00) The Solana Recovery Post SBF
(10:30) Priorities for Solana Development
(22:14) The Next Gen L1 Case for Builders
(24:56) Economics of the SVM
(34:17) State of Solana Fee Market
(48:18) Inflation & Staking Dynamics
(51:17) DAS 2024
(52:32) Arbitrum Ad
(53:18) Harpie Ad
(54:32) Open Source & Security Approach
(01:02:02) Governance & Alignment
(01:12:25) The Value of Permisionless Systems
(01:19:04) Saga Mobile Strategy & Potential
(01:25:14) Remaining Moonshot Ideas
- -
Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
Three Crypto Pioneers on Crypto’s Monolithic vs. Modular Debate - Ep. 589
In this episode of Unchained, Anatoly Yakovenko, co-founder of Solana Labs, Nick White, COO at Celestia, and Chris Burniske, partner at VC firm Placeholder discuss the differences between modular and monolithic, or integrated, blockchains, with Solana epitomizing the monolithic approach and Celestia the modular one. They all agree that both approaches have their merits and will likely coexist, but argue each lends itself to specific use cases and developer preferences.They also discuss what will drive the next crypto bull cycle, and each gives their best predictions for a specific development in the crypto industry in the next few years.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:
Chris’s explanation of the modular vs. monolithic approach in blockchains
What drove Anatoly to prioritize speed in Solana's architecture and its impact on the network
What Celestia is and how it represents the first modular blockchain network
Whether developers and users will gravitate more towards modular or monolithic blockchains
How Solana, as one of the fastest blockchains, is gearing up to handle massive usage and scalability
Why Chris views Celestia as a frontrunner in the data availability sector
How Nick perceives the philosophical similarities and executional differences between Celestia and Solana
Whether there's potential for Solana to transition into a modular blockchain in the future
Why Chris believes that the Solana Virtual Machine (SVM) might surpass the Ethereum Virtual Machine (EVM) in user adoption
What challenges Bitcoin faces in developing actual Layer 2 solutions, especially considering its "doomers storage" issue
What could drive the next crypto bull market
Top predictions for 2024 and beyond
Anatoly’s perspective on how a significant hack could pose a serious setback for the entire industry
Thank you to our sponsors!
Arbitrum Foundation
Popcorn Network
iTrustCapital
Guests:
Anatoly Yakovenko, cofounder of Solana Labs
Previous appearances on Unchained:
Anatoly Yakovenko on Solana’s Astounding Recovery and Its Future Plans
Will Solana Be the Execution Layer and Ethereum the Settlement Layer?
Can Solana Seize Marketshare From Ethereum With Serum?
Anatoly Yakovenko on Why Solana Is Building the SAGA
Chris Burniske, partner at Placeholder
Previous appearances on Unchained:
Two VCs on Why This Is the Perfect Time to Invest in Crypto
2022 in Review + How Cobie and Chris Burniske Are Playing the New Year
Cobie and Chris Burniske on How to Navigate a Crypto Bear Market
How To Value A Crypto Asset
Nick White, COO at Celestia Labs
Links
Modular vs. monolithic
Alchemy: Modular vs. Monolithic Blockchains
Visa: Monolithic vs. modular blockchain
Chris Burniske’s tweet on modular vs monolithic
“The horrific inefficiencies of monolithic blockchains” by polynya
Blockworks: A spicy salvo launched in the monolithic vs modular debate
Unchained: What Is the Blockchain Trilemma?
Celestia
Celestia’s explanation of modular blockchains
Data availability
Data availability sampling
An introduction to sovereign rollups
Spot Bitcoin ETF:
Unchained:
Why The Spot Bitcoin ETF Is a Big Deal
Deciding on Bitcoin: Should New Investors Jump In Now or Wait for an ETF?
Ledger ConnectKit incident
Unchained: Ledger Library Compromised, Causing Confusion and Panic in Crypto Community
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Anatoly Reflects on Solana In 2023 & 2024
In today’s episode, we have the creator of Solana and the Co-founder of Solana Labs, Anatoly Yakovenko. We brought on Anatoly to reflect on Solana in 2023 and its future in the New Year and beyond.
-----
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🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku
🌐 Layer Zero V2 Launch https://bankless.cc/LayerZeroLabs
-------
TIMESTAMPS
0:00 Intro 5:49 FTX’s Effect on Solana 8:03 Solana Lindy? 9:55 Local Fee Markets 17:51 Solana’s Governance 24:58 Important Solana Questions 28:44 Firedancer vs. Jump 37:36 Latency Games 40:20 Are More Users Scary? 43:50 Hyper-Optimism 48:52 What Scares Anatoly 54:59 $BONK & Solana Phone 1:07:58 Breakout Consumer Apps 1:12:37 Solana Economics 1:18:30 ETH vs. SOL 1:34:50 Solana Alignment 1:36:49 Solana Misrepresentation 1:37:53 Closing & Disclaimers
------ RESOURCES
Anatoly https://twitter.com/aeyakovenko
------ Not financial or tax advice. See our investment disclosures here: https://bankless.com/disclosures
Anatoly Yakovenko on Solana’s Astounding Recovery and Its Future Plans - Ep. 578
Unchained is running its annual survey to better serve you.
Please answer our annual survey here.
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.
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.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
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
Previous appearance on Unchained: Will Solana Be the Execution Layer and Ethereum the Settlement Layer?
Previous appearance on Unchained: Can Solana Seize Marketshare From Ethereum With Serum?
Previous appearance on The Chopping Block: Anatoly Yakovenko on Why Solana Is Building the SAGA
Links
Unchained: Solana Saga review
Decrypt: Mad Lads NFTs Hit All-Time High as Backpack Taps FTX Lawyer for Exchange Launch
Op-ed by Anatoly on Fortune: Solana co-founder: 'To keep the next great American founder in America, Congress must regulate crypto. But first lawmakers should learn how it works'
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David @ Solana Breakpoint | Anatoly & Austin
David sits down in person at Solana Breakpoint 2023 with Solana’s Founder, Anatoly Yakovenko, and Austin Federa, Solana Foundation’s Head of Strategy.
The three chat about Breakpoint’s Evolution, Solana vs. Ethereum, and exciting new releases/products coming out of Solana.
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🦊METAMASK PORTFOLIO | MANAGE YOUR WEB3 EVERYTHING https://bankless.cc/MetaMask
⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum
🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/Toku
🦄UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap
🔗 CELO | CEL2 COMING SOON https://bankless.cc/Celo
------ TIMESTAMPS
0:00 Intro 6:00 Breakpoint 2023 6:53 What’s Breakpoint? 7:49 Breakpoint 1 12:20 Breakpoint 2 13:54 Evolution of Breakpoint 16:13 Aesthetic of Breakpoint 17:35 Who Attends Breakpoint 18:30 Solana’s Hardest Year 20:52 Solana Community Excitement 23:50 Consumer Solana Apps 24:48 Up Next For Anatoly 26:00 Anatoly Role Change 26:44 Solana vs. Ethereum Relationship 30:44 Solana Dev Mindset 31:44 Anatoly Cult 35:17 Firedancer 42:33 Solana 2.0 43:11 Runtime v2 44:18 Confidential Transactions 46:00 Up Next For Solana 48:48 Solana L2s & Slow-Lana 52:37 Solana Governance 56:05 Next For Austin 56:45 Breakpoint 2024 59:28 Closing & Disclaimers
----- RESOURCES
Anatoly Yakovenko https://twitter.com/aeyakovenko
Austin Federa https://twitter.com/Austin_Federa
Solana Youtube https://www.youtube.com/@SolanaFndn/videos
----- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures
Solana's End Game with Anatoly Yakovenko | 1000x
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--
In today's episode of 1000x Jonah and Avi welcome Anatoly Yakovenko to the show for a discussion on Solana's end game. After a tweet from Jonah questioning the future of Solana, we thought why not invite Anatoly himself to the show to explain Solana's ultimate vision.
We deep dive into finding crypto's perfect use case, disrupting legacy financial rails, the challenges of building through a bear market & crypto's killer use case. To hear all this & more, you'll have to tune in!
--
Follow Anatoly: https://twitter.com/aeyakovenko
Follow Avi: https://twitter.com/AviFelman
Follow Jonah: https://twitter.com/jvb_xyz
Follow 1000x: https://twitter.com/1000xPod
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
--
Timestamps
(0:00) Introduction
(3:23) Solana's Ultimate Vision
(7:57) Value Within A PoS Chain
(10:25) Running A Solana Validator
(13:03) Firedancer: Boosting Solana's Scalability
(17:21) TVL & Volume On Solana
(21:56) Crypto's Perfect Use Case
(25:10) Stablecoins
(31:05) The Future Of Solana
(38:01) The Waves Of Adoption In Crypto
(43:54) Building Community In Solana
(48:06) Solana's Perfect Product Market Fit
(54:47) What Solana Has Learnt From Ethereum
--
Disclaimer: Nothing said on 1000x is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Avi, Jonah and our guests may hold positions in the companies, funds, or projects discussed.
Exploring The State Of Solana With Anatoly Yakovenko
This week, we were joined by Anatoly Yakovenko, founder and CEO of Solana.
Weekly Recap is your one-stop show for the most compelling news of the week, brought to you by the writers at The Defiant. This series delves deeper into our reports, revealing further insights and perspectives that help you make sense of the latest developments.
Every Friday, we go live on our YouTube channel, offering a unique mix of analysis and commentary. Stay informed and ahead of the curve by tuning into our weekly broadcasts.
Don't forget to visit our YouTube channel for a regular dose of content that keeps you in the loop!
Solana’s Ultimate Vision | Anatoly Yakovenko
Anatoly joins us to discuss why Solana is uniquely designed to utilize ever-increasing bandwidth and compute. We cover Solana's core thesis, how blockchains benefit from hardware improvements, the fundamental flaws of L2s, Anatoly's favorite applications, decentralization and more! Anatoly is a legend, you don't want to miss this one!
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Use code EMPIRE30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023
- -
Timestamps:
(00:00) Solana’s Core Thesis
(10:40) The Scaling Bottleneck
(13:58) Do All Blockchains Equally Benefit From Hardware Improvements?
(17:57) Pros and Cons of Parallel Execution
(21:12) The Realities of Decentralization
(24:43) Solana’s Design Moat
(28:10) Permissionless ad
(29:37) The Fundamental Tradeoffs of L2s
(44:12) How Should Solana Approach Business Development?
(48:12) The Role of Solana Labs and the Solana Foundation
(49:47) The Compressed NFT Opportunity
(53:31) We Need to Fix DAO Governance
(55:14) Anatoly’s Metric of Success for Solana
(57:58) Why Anatoly Hasn’t Left Crypto
(01:00:03) Why an Average Joe Would Use Solana
(01:01:39) Rapid Fire
- -
Resources
Endgame: Proof of Governance by Jon Charbonneau
https://www.youtube.com/watch?v=toPd1vgHjVE&t=0s
- -
Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
157 - Will Solana Make It with Anatoly Yakovenko
✨ DEBRIEF | Unpacking the episode: https://shows.banklesshq.com/p/debrief-anatoly-solana
------ ✨ COLLECTIBLES | Collect this episode: https://collectibles.bankless.com/mint
------ In today’s episode, we have the creator of Solana and the Co-founder of Solana Labs, Anatoly Yakovenko. We brought on Anatoly to ask: is Solana going to make it?
Price is down. A major public backer…SBF is down for the count…will Solana make it? Will it survive the bear market? Anatoly shares his thoughts.
In addition, he also shares the full Solana story, back to its earliest inflection points all the way to the current state of Solana today.
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------ Topics Covered
0:00 Intro 7:58 2022 & 2023 10:05 Solana Origins 14:40 Passage of Time as Data 25:30 Bandwidth Trade-offs 29:29 SOL as Money? 32:04 Security 36:24 Continuing the Solana Story 44:10 Early Day Solana Vibes 48:20 Solana Growth Acceleration 51:31 2021 Solana Price 53:12 The Crypto VC Narrative 54:37 Solana Haters 59:55 FTX & SBF 1:07:16 Solana Critique 1:09:35 Cultural Debt 1:14:46 The State of the Solana Community 1:19:37 The Future of Solana 1:24:36 Solana VM 1:26:39 Will Solana Make It? 1:31:15 Final Solana Questions Closing & Disclaimers
------ Resources:
Anatoly https://twitter.com/aeyakovenko
Firedancer https://jumpcrypto.com/firedancer/
----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures
An Inside look into Solana After FTX's Collapse
This week on The Defiant Podcast, we speak with Tal Tchwella, Product Manager of Products Engineering at Solana Labs.
In our conversation, we dive deep into Tal's work on crypto inside Facebook (Meta), his transition to Solana, the resurgence of NFTs on the network, and all the hype with the $BONK meme coin.
We also discuss what it’s like working full-time in Web3, the Solana Phone, as well as the future of Solana after the collapse of FTX.
Thanking our podcast sponsors:
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Why FTX’s collapse is a ‘crucible moment’ for Solana
Solana co-founder Raj Gokal has referred to the FTX crisis as a "crucible moment" for Solana's ecosystem.
The amount of value moved on Solana has decreased dramatically since Alameda declared bankruptcy in November, data from The Block shows.
In this episode of The Scoop, Solana co-founders Raj Gokal and Anatoly Yakovenko discuss how Solana initially became intertwined with FTX, and when they first started to notice that Sam Bankman-Fried’s ambitions diverged from the crypto ethos.
While Bankman-Fried and FTX were focused on building a centralized exchange, the Solana co-founders were focused on building self-custody solutions. As Yakovenko explains, “FTX became a much bigger brand and started going in a very global direction … but we were focused on building stuff for self-custody users.”
Despite the setback FTX’s collapse has had on Solana’s ecosystem, Gokal says the focus on self-custody has led to real user adoption:
“It's pretty exciting now to see that focusing on self-custody users and open-source software has created this huge boom — it's what captured most of the users and active addresses on Solana.”
Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from former FTX and Alameda founder Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.
Episode 125 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and Solana co-founders Raj Gokal and Anatoly Yakovenko.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to podcast@theblockcrypto.com
This episode is brought to you by our sponsors Tron, Ledn
About Tron
Founded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.
About Ledn
Ledn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io
Can Solana Move Past SBF? | Anatoly Yakovenko, Ben Sparango
In this episode of Empire, Anatoly Yakovenko and Ben Sparango join us to discuss Solana's future in the aftermath of FTX. SBF and FTX were core investors and contributors to the Solana ecosystem. How did Solana get so intertwined with FTX? How bad was Solana damaged as a result? How will Solana recover? These are just a few of the questions we explore.
We then dive into Solana's roadmap and discuss Solana's new local fee market, network outages, decentralization worries, monolithic chains vs rollups, the Solana mobile stack and more. This is the go-to podcast for all Solana fans and skeptics!
- -
Timestamps:
(00:00) Introduction
(01:18) How Did Solana Get So Intertwined With FTX?
(11:20) How Important Was SBF To Solana’s Growth?
(17:36) Fallout From Reliance On FTX
(20:05) Did You See This Coming?
(25:07) What Exchanges Got Wrong & Alameda’s 10% SOL Stake
(29:58) FTX Impact On Solana Apps & Developers
(33:30) Where Does Solana Go From Here?
(42:13) Solana’s Fee Markets & Decentralization Questions
(46:16) Solving Solana’s Network Outages
(57:38) Monolithic Blockchains, Layer 2s & New Learnings
(1:07:10) Economic Sustainability
(1:10:30) Avalanche vs Cosmos, Who’s Solana's Main Competitor?
(1:14:59) The Importance Of Business Development
(1:19:18) Google Partnership & The Solana Phone
- -
Follow Anatoly: https://twitter.com/aeyakovenko
Follow Ben: https://twitter.com/bennybitcoins
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Follow Empire: https://twitter.com/theempirepod
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Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
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Circle’s USDC has quickly become one of the most trusted and widely used stablecoins because of its composability, stability and reserve transparency. As a seamless, trusted digital currency, USDC is a zero-to-one opportunity for the global financial system. Check out their Transparency Hub at http://empirepodcast.link/circle that outlines everything from links to USDC weekly reserve reports, monthly attestations, and blog posts written by their executive team highlighting how and why USDC was built the way it is.
- -
Resources
Break Solana website
https://break.solana.com/
Chris Burniske's thread on Solana
https://twitter.com/cburniske/status/1590455521307660290
Anatoly and Dankrad debate
https://bit.ly/3Umky4T
Solana events webpage
https://solana.com/events
Solana Twitter account
https://twitter.com/solana
The Solana Podcast
https://bit.ly/3FgMAdS
- -
Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
How Solana is bridging the gap between web3 and the physical world
In this episode of The Scoop, Solana Labs co-founder and COO Raj Gokal discusses his early impression of Solana Spaces, as well as the innovation and experimentation that is occurring across the Solana ecosystem at a "breakneck pace."
As Gokal explains, some people who visit Solana Spaces' first location in Manhattan are discovering that web3 might not be as daunting as it seems:
"There's hundreds of people coming through — just starting their first Phantom wallet, sending their first USDC, and learning, 'okay, using crypto is like not that complicated.'"
In addition to the inroads Solana is making in the physical world, Solana is currently hosting a virtual hackathon called 'Summer Camp' — the largest Solana hackathon to date, according to Gokal:
"The hackathon that's going right now has almost 14,000 developers. This is the most participation from a hackathon that we've ever seen… and it's now — in the depths of the bear market."
Although the price of SOL has fallen approximately 85% since last November's highs, the Solana Network has seen accelerated adoption over the same period, as data from The Block shows.
Episode 72 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and Solana Labs Co-Founder and COO, Raj Gokal.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.
This episode is brought to you by our sponsors Chainalysis & IWC Schaffhausen
About Chainalysis
Chainalysis is the leading blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.
About IWC Schaffhausen
IWC Schaffhausen is a Swiss luxury watch manufacturer based in Schaffhausen, Switzerland. Known for its unique engineering approach to watchmaking, IWC combines the best of human craftsmanship and creativity with cutting-edge technology and processes. With collections like the Portugieser and the Pilot’s Watches, the brand covers the whole spectrum from elegant timepieces to sports watches. For more information, visit IWC.com
The Chopping Block: Anatoly Yakovenko on Why Solana Is Building the SAGA Phone - Ep. 373
Welcome to The Chopping Block! Crypto insiders Haseeb Qureshi, Tom Schmidt, and Tarun Chitra chop it up about the latest news in the digital asset industry. In this episode, Anatoly Yakovenko, Tsar of Solana, joins the show to discuss the use cases of Solana, whether it’s actually a blockchain, how Solana scales, and much more!
Show topics:
What Anatoly thinks of Andre Cronje's opinion that Solana is not a blockchain
Why Solana has had so many instances of downtime
Whether Solana is the NASDAQ of blockchains
Why Solana changed its approach to fee markets and how it is different from other blockchains
Why Anatoly is bearish on generic Layer2s
How to prevent a mempool to blow up
Whether Anatoly is pro app-chains
Why Anatoly would have had Solana build a fee model from the start
What proof of history is and what its problems are
How vertical scaling and horizontal scaling differ
What the use cases of Solana are
Why Solana decided to build the SAGA phone
How a web3 phone enables new ways of innovation
Why Solana doesn’t see Avalanche or BSC or other EVM chains as competitors but Mysten and Aptos
Why the execution environment is where all innovation happens
Why Tarun thinks rollups on Solana is a good idea
Whether EVM could work on Solana and why Anatoly cares less about EVM on Solana than Solidity
What Anatoly’s biggest lessons from building Solana are
Why Haseeb admires Anatoly and what the similarities are between him and Vitalik
What Anatoly advises people who are building in crypto
Hosts
Haseeb Qureshi, managing partner at Dragonfly Capital
https://twitter.com/hosseeb
Tom Schmidt, general partner at Dragonfly Capital
https://twitter.com/tomhschmidt
Tarun Chitra, managing partner at Robot Ventures
https://twitter.com/tarunchitra
Robert Leshner, founder of Compound
https://twitter.com/rleshner
Guest: Anatoly Yakovenko
Twitter: https://twitter.com/aeyakovenko
Episode Links
Solana
Serum: https://www.projectserum.com/
Some of the Solana outages and consequences:
September 2021: https://www.coindesk.com/markets/2021/09/14/solana-validators-ready-potential-restart-amid-blockchain-outage/
January 2022: https://www.theblock.co/post/131278/traders-are-complaining-about-solanas-performance-raising-questions-about-its-status-as-a-wall-street-darling
May 2022: https://www.theblock.co/linked/144639/solana-restarted-after-seven-hour-outage-caused-by-surge-of-transactions
Solana’s blockchain clock 30 minutes behind: https://www.theblock.co/post/149112/solanas-blockchain-clock-loses-track-of-time-now-running-30-minutes-behind
June 2022: https://www.coindesk.com/tech/2022/06/02/solana-halted-by-bug-linked-to-certain-cold-storage-transactions/
Popularity of NFTs on Solana: https://www.theblock.co/post/153214/magic-eden-raises-series-b-funding-solana-nft-unicorn
Solana phone
https://solana.com/news/saga-reveal
https://dune.com/queries/952048/1656567
https://www.coindesk.com/business/2022/06/23/solana-labs-is-building-a-web3-mobile-phone/
Fee market: https://www.reddit.com/r/solana/comments/u3p8xc/eli3_solana_fee_market/
Aptos/Mysten:
https://www.coindesk.com/business/2022/07/11/web-3-startup-mysten-labs-aiming-for-2b-valuation-in-latest-funding-report/
https://www.coindesk.com/business/2022/05/31/paypal-ventures-invested-in-team-reviving-diem-blockchain/
Paper on Proof of History: https://www.shoup.net/papers/poh.pdf
Learn more about your ad choices. Visit megaphone.fm/adchoices
Solana is Launching a Phone? | Co-Founders Anatoly & Raj
Solana just released a flagship Android phone for web3 called Saga. And it really begs the question: does a blockchain need to have its own phone? Well, we brought on Co-Founders Anatoly Yakovenko and Raj Gokal to make the case.
Let us know what you think about this release in the comments below or on Twitter @BanklessHQ - bullish or bearish Saga and why?
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------ Timestamps:
0:00 Intro 6:15 Bear Market Vibe Check 10:03 Solana’s Bear Market Agenda 14:28 Why Web3 Needs a Phone? 17:30 Solana Mobile Phone Explained 25:52 The Solana Mobile Thesis 30:50 Mobile Hardware Features 33:45 Mobile Wallet Adapter 36:15 Solana dApp Store 41:40 Is Solana Mobile a Distraction? 47:00 Jason Keats & Osom 50:45 Describing the Solana Mobile Device 51:32 Competitors 54:40 Costs to Launch a Phone 56:32 Solana Centralization Critique 1:03:50 Solana Scalability
------ Resources:
Anatoly Yakovenko https://twitter.com/aeyakovenko
Raj Gokal https://twitter.com/rajgokal
Solana https://solana.com/
Solana Mobile https://twitter.com/solanamobile
----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures
The Solana phone is the leap that Google and Apple won't take, says Anatoly Yakovenko
Many Web3 platforms require users to connect their crypto wallets before engaging with the platform in any meaningful way.
Consequently, the Web3 experience on mobile devices is tedious at best, given current devices are not designed with such functionalities in mind.
Solana Mobile — a subsidiary of the development team behind Solana — hopes to address the difficulties that surround the Web3 mobile user experience with its new Android phone called ‘Saga,’ which is slated for release in early 2023.
Last week, Solana Labs co-founder and CEO Anatoly Yakovenko announced the new mobile device, which will run a ‘Solana Mobile Stack’ (SMS) operating system and will feature a marketplace for decentralized Web3 applications.
In this episode of The Scoop, Anatoly Yakovenko said he believes Saga’s early success will be linked to its ability to significantly enhance the mobile crypto user experience:
“The theory is that crypto users might be crazy enough to switch from iOS to Android because of crypto. It might be so important to have that experience, that they're willing to change their habits.”
If Solana Mobile is successfully able to prove there is consumer demand for crypto-forward mobile products, Yakovenko believes it will inspire major tech companies to integrate crypto infrastructure into their own mobile devices moving forward:
“You need Google and Apple to do it, but they're not going to do it until there is proven demand that people need it — and so somebody has to kind of make that leap…”
Episode 60 of Season 4 of The Scoop was recorded live at The Block headquarters in New York with The Block’s Frank Chaparro and Anatoly Yakovenko, co-founder and CEO of Solana Labs.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.
This episode is brought to you by our sponsors Chainalysis & IWC Schaffhausen
About Chainalysis
Chainalysis is the leading blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.
About IWC Schaffhausen
IWC Schaffhausen is a Swiss luxury watch manufacturer based in Schaffhausen, Switzerland. Known for its unique engineering approach to watchmaking, IWC combines the best of human craftsmanship and creativity with cutting-edge technology and processes. With collections like the Portugieser and the Pilot’s Watches, the brand covers the whole spectrum from elegant timepieces to sports watches. For more information, visit IWC.com
Will Solana Be the Execution Layer and Ethereum the Settlement Layer? - Ep.294
On Unchained, two co-founders of Solana Labs, Anatoly Yakovenko and Raj Gokal, dive deeply into the Solana ecosystem, discussing everything from the price of SOL to the Solana network outage to the competition between Ethereum and Solana. Show highlights:
why Raj thinks SOL’s market cap grew from $86 million to $68 billion in less than a year
Anatoly’s and Raj’s background and how they found themselves working together to build Solana
why Anatoly thinks Solana will be a general-purpose blockchain rather than specializing in gaming or high frequency trading
Anatoly’s goal to make Solana the first billion-user blockchain
why Raj thinks NFTs on Solana have been so popular
why, in the opinion of Raj and Anatoly, Solana’s purpose has shifted away from high-frequency trading
how NFTs could replace ads
why “everything is DeFi”
how Solana Labs plans to allocate the recent $314 million funding round it raised
what lessons Anatoly learned from the 18-hour September network outage
technically speaking, what happened to cause Solana’s network outage
why Anatoly believes that outages, at this stage, aren’t necessarily a bad thing
whether “trading mercenaries” dominated at Solana Breakpoint
why developers are interested in building on Solana
how Solana and Ethereum compare as execution and settlement layers
why Raj doesn’t like framing competition between Solana and Ethereum as a fight
how Anatoly views the competition between Ethereum and Solana
whether the arrival of Neon Labs, which is bringing EVM to Solana, could lead to developers leaving Ethereum
how NFTs and Phantom wallets are bringing in new users for Solana
whether Raj and Anatoly would roll back Solana if something like Ethereum’s DAO hack were to occur
why Solana has the competitive advantage in throughput, according to Anatoly
what would happen if FTX cofounder and CEO Sam Bankman-Fried gave up on Solana
their predictions for Solana five years from now
Thank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
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Episode Links:
Anatoly Yakovenko
https://twitter.com/aeyakovenko
Raj Gokal
https://twitter.com/rajgokal
Solana News
Anatoly Yakovenko -- It ‘doesn’t really matter’ if the network goes down again
https://www.theblockcrypto.com/post/124887/solana-labs-ceo-it-doesnt-really-matter-if-the-network-goes-down-again
Neon Labs
https://www.theblockcrypto.com/post/123744/neon-labs-developer-of-ethereum-virtual-machine-on-solana-raises-40-million
Aave + SushiSwap going to Solanas through Neon Labs
https://twitter.com/joselitommutuc/status/1462043806207938563
Solana + Brave integration
https://decrypt.co/85538/privacy-browser-brave-expands-beyond-ethereum-solana
ATH at $260
https://decrypt.co/85457/solana-hits-all-time-high-of-260
Solana Breakpoint
https://www.coindesk.com/business/2021/11/15/solana-throws-a-three-day-party-for-itself/
https://www.cryptoglobe.com/latest/2021/11/solana-network-highlights-from-breakpoint-conference-paint-a-very-healthy-picture/
https://decrypt.co/85934/the-view-from-solana-week-in-lisbon
FTX US + Solana NFTs
https://www.theblockcrypto.com/post/120044/ftx-us-launches-marketplace-for-trading-solana-based-nfts
Solana Outage
The Block’s coverage
https://www.theblockcrypto.com/linked/117711/solana-blockchain-validators-restart-network-after-transaction-stoppage
https://www.theblockcrypto.com/linked/117624/solana-experiences-transaction-stoppage-as-developers-report-intermittent-instability
Why the mainnet went down
https://twitter.com/buffalu__/status/1437792673784549383
Potential ramifications
https://twitter.com/CometShock/status/1437870278684590091
Anatoly Yakovenko Solana outage tweets
https://twitter.com/aeyakovenko/status/1437887482897518595
https://twitter.com/aeyakovenko/status/1437784552324358155
https://twitter.com/aeyakovenko/status/1438496595360862215
https://twitter.com/aeyakovenko/status/1438465508412739588
https://twitter.com/aeyakovenko/with_replies
Solana $314M Fundraise
https://www.theblockcrypto.com/post/107749/solana-labs-raises-314-million-funding-a16z-polychain-capital
Solana Topics
Raj thinks Ethereum cannot be killed
https://twitter.com/rajgokal/status/1458420316569489410
NFT Growth
https://twitter.com/masonnystrom/status/1455556328404013057
https://twitter.com/masonnystrom/status/1459157853848195079
Pplpleasr
https://decrypt.co/85964/the-collectoooooor-pplpleasr-latest-nft-art-solana-ethereum
Investment in gaming
Forte
https://decrypt.co/85966/cosmos-solana-ventures-join-725m-series-b-crypto-gaming-platform-forte
Alexis Ohanian investment
https://www.fool.com/the-ascent/cryptocurrency/articles/why-reddit-co-founder-alexis-ohanian-will-invest-100-million-in-solana-social-media/
FTX + Solana
https://decrypt.co/85302/ftx-solana-ventures-lightspeed-100m-crypto-gaming
Phantom wallet hits 1M+ users
https://decrypt.co/85563/phantom-wallet-preps-mobile-launch-reaching-million-users-solana
Solana Basics
CoinMonk: https://medium.com/coinmonks/solana-more-update-for-sol-becb65024877
Solana Labs: https://medium.com/solana-labs/proof-of-history-a-clock-for-blockchain-cf47a61a9274
The Tie: https://research.thetie.io/solana-ecosystem/
Binance.Research: https://research.binance.com/en/projects/solana
Genesis Block: https://genesisblockhk.com/what-is-solana/
Block Explorers: https://explorer.solana.com/supply + https://solanabeach.io/supply + https://solanalysis.com/
Messari: https://messari.io/article/the-perpetual-sol-rise
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Solana founder unravels the Layer 1 Wars | Anatoly Yakovenko
In this episode of Empire, Jason is joined by Blockworks co-founder Mike Ippolito & Solana co-founder Anatoly Yakovenko. Anatoly has spent over 20 years as an engineer working for companies such as Qualcomm & Dropbox whilst contributing to open source software development. After the recent success of Solana, we invited Anatoly onto Empire to discuss how Solana was founded, the current layer 1 wars, the growth of crypto vs the internet, DeFi, DEXs vs CEXs and so much more!
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Avalanche:
Thank you to Avalanche for sponsoring Empire. Avalanche is one of the best and fastest growing smart-contract platforms in the industry.
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Solana Founder Anatoly Yakovenko on scaling the blockchain to warp speed | E1302
Anatoly from Solana joins Jason to discuss how they've managed to build the fastest blockchain (0:54). Solana's "proof of history" innovation allows for over 50,000 transactions a second, we get into Solana's value prop (25:51), use cases (40:14), developer ecosystem and more!
Anatoly Yakovenko unpacks Solana's rise, memes, and NFT snafus
It has been a wild summer for blockchain project Solana.
From the meteoric rise in the price of its native token to technical problems facing NFTs launched on the blockchain, the project has entered the forefront. On this episode of The Scoop, Anatoly Yakovenko Founder & CEO of Solana Labs joins host Frank Chaparro for a deep dive into Solana, which some believe can compete with Ethereum despite being less decentralized.
As for price specifically, Yakovenko admitted it doesn't always make sense.
"This is just mind-boggling that if the price of Solana doesn't make any sense, then I have no clue why Ethereum has anything in terms of its value," he said, adding:
"I don't pay attention to the price so much because I have no control over it and I'm an engineer. So, like, if I can't change it, then it's just like one of these variables."
Solana Labs completed a $314.2 million fundraise back in June 2021 (that amount raised is a play on the number Pi). Investors included Andreessen Horowitz, Polychain Capital, FTX via Alameda Research and CoinShares. But as of yet, Yakovenko said much of their capital raise has not been deployed. It is also known for powering Serum, the decentralized exchange launched by Sam Bankman-Fried of FTX. Solana recently launched its Metaplex NFT marketplace, which Yakovenko acknowledged experienced server issues.
Still, DeFi comes to the top of Yakovenko's mind as a core use case.
“I've really felt that finance was a place where blockchain makes sense," he said.
In Yakovenko's view, users could even one day use their own hardware to tap into the network in order to access financial market data as quickly as professional trading firms with access to exchange data.
"The network guarantees as close as possible to an impossible problem, which is that information propagates equally to everybody at the same speed," he said.
Episode 55 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Anatoly Yakovenko, Founder & CEO @ Solana Labs.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.
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How Solana and Pyth Aim To Take DeFi to the Next Level
There's obviously a lot of interest in crypto and DeFi these days. And while it's growing rapidly, it's still not cutting much into traditional finance business lines. For the most part, trading on blockchains is slow and costly. But some projects don't accept the premise that blockchains have to be slow and inefficient. Solana is an Ethereum competitor whose native token has been soaring. And unlike Ethereum, its transactions are cheap and ultrafast. So what tradeoffs does it make? And what projects are being built on top of it? On this episode, we speak with Solana founder Anatoly Yakovenko and Kanav Kariya of Jump Trading, who is involved with an oracle project called Pyth.
See omnystudio.com/listener for privacy information.
Special: Solana (with CEO Anatoly Yakovenko)
We sit down with the hottest new protocol layer in crypto today: Solana, and its cofounder Anatoly Yakovenko, who is the CEO of Solana Labs. If you listened to our Ethereum episode or follow crypto even at a cursory level, you've likely heard of Solana and its ability to scale transactions thousands of times higher than Ethereum. And, unlike other so-called "ETH killers", Solana is doing so in production today with large and real applications. We dive into the project's history coming out of the 2017-18 crypto winter, how it works and what's ahead now that they've recently raised $314m (yes that is Pi $million) from a16z and Polychain Capital, with their native SOL tokens currently trading at a market cap around $10B (!).
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Topics covered:
Anatoly's background as a wireless engineer at Qualcomm, and how it led to a fundamental discovery of how to improve crypto system scalability
Solana's role in the crypto protocol ecosystem and why there's a need for it (and why it can and will exist) alongside Ethereum versus "killing" it
Starting Solana during the 2017-18 crypto winter, and how it forced them to focus just on building and shipping versus raising and posturing
Bootstrapping adoption with the mining community (Solana's "true believers") and the early and ardent support they provided
Where Solana falls on the Vitalik "Scalability - Security - Decentralization" trilemma, and why Solana's superpower of maintaining composability is so attractive
Links:
Solana: https://solana.comSolana on Twitter: https://twitter.com/solana
Solana Hackathon submissions: https://airtable.com/shriNT26cAZeDJagn/tbl5fZ4E1BBbVAttW
FTX: https://ftx.us
Audius: https://audius.co
Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
"When Incentives Are Gone, What's Left? DeFi Gets Mixed Marks:" Sam Bankman-Fried
In this week’s interview, I speak with Sam Bankman-Fried, co-founder and CEO of crypto liquidity provider Alameda Research and derivatives exchange FTX, and with Anatoly Yakovenko, the creator of the Solana blockchain. Bankman-Fried, recently announced the launch of Serum, a DEX built on the Solana blockchain. SBF has become known to be a ruthless trader, but he argues he’s simply using DeFi protocols for what they were made. For Anatoly, the end goal of Solana is to find the fastest and cheapest way to scale cryptography so that people are able to have ownership and participation in the applications they use, and so that the financial system can become more open efficient.
Can Solana Seize Marketshare From Ethereum With Serum? - Ep.193
Sam Bankman-Fried, the CEO of FTX and Alameda Research, and Anatoly Yakovenko, the co-founder and CEO of Solana Labs, discuss the Project Serum ecosystem that they are building on the Solana blockchain, and the unique approach to scaling the Solana blockchain is taking.
In this episode, they talk about:
their backgrounds, and how they became involved in crypto
why Solana takes a different approach to scaling and how it is implemented
why they think a relatively lower number of nodes is sufficient to protect from attacks or collusion
what the vision for Solana is, who they see using it, and how Serum fits into that vision
why they think there haven’t been more crypto projects migrating to Solana yet
Solana’s proof-of-history algorithm and how it works
how Solana plans to attract DeFi developers
why Serum was made interoperable with Ethereum
the types of traders they are hoping to attract with Serum, and what their experience will be like on the platform
why Project Serum is an ecosystem and not just an order book exchange
how high-frequency trading firm Jump Trading came to adopt Serum
how Serum will manage trading tokens from different chains
the purpose of Serum’s two tokens, SRM and MSRM
and what’s in store for Project Serum in the future
Thank you to our sponsors!
Crypto.Com: https://www.crypto.com
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Episode links:
Anatoly Yakovenko: https://twitter.com/aeyakovenko
Solana: Solana.com
Sam Bankman-Fried: https://twitter.com/SBF_Alameda
Project Serum: https://www.projectserum.com
Project Serum on Twitter: https://twitter.com/projectserum
Solana CoinList auction in March: https://www.theblockcrypto.com/linked/59952/blockchain-project-solana-raises-1-76m-from-its-launch-auction-on-coinlist
Solana network stats: https://explorer.solana.com
The Block Research on Solana: https://www.theblockcrypto.com/genesis/76615/solana-blockchain-overview
Proof of history:
https://medium.com/solana-labs/proof-of-history-a-clock-for-blockchain-cf47a61a9274
Serum: https://www.theblockcrypto.com/daily/72924/ftx-dex-serum-solana-blockchain
Tether: https://medium.com/solana-labs/tether-to-bring-usdt-to-the-solana-network-77864184b20
Jump Capital: https://www.theblockcrypto.com/post/76826/veteran-market-maker-jump-trading-forays-into-defi-to-provide-liquidity-for-ftxs-solana-based-dex
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