After FTX collapsed, a number of crypto entities once tied to the bankrupt crypto exchange are trying to pick up the pieces and move forward. As for Solana — a prominent layer-1 blockchain that was backed by FTX and its outspoken founder, Sam Bankman-Fried — its co-founders see this downturn as an opportunity for its team and developers to build and ignore the noise.
“It’s just a time of immense fear, but there’s immense opportunity,” Raj Gokal, co-founder of Solana, said to TechCrunch. “There’s a lot of signal and a lot of noise.”
Developers in the space who weathered the last crypto market cycle see Solana’s ability to handle high levels of transaction throughput as an advantage over some other blockchains and remain bullish on the underlying technology more generally, Gokal explained. “They’re not just paying attention to what’s happening in the market. What they’re excited about is what they can build, and they’re still building it.
“A lot of them feel the urgency to be ready with their products [for] the next cycle so when that next market cycle comes, there will be a lot of new users trying to experiment with products in crypto and we expect that to happen in the next year.”
Solana founders see now as a time to bridge the blockchain and the physical world by Jacquelyn Melinek originally published on TechCrunch
Pasqal, a Paris-based quantum computing startup, today announced that it has raised a $100 million…
Developed with Sony Group Corp, the headset will have two ultra-high-resolution displays to handle the…
After years of blistering growth, most recently fuelled by remote working and studying during the…
Omar Ishrak had stepped down and the chipmaker appointed board director Frank Yeary as his…
Canadian Prime Minister Justin Trudeau has announced a new federal investment to build and commercialise…