Look, I get it. The crypto community loves an underdog story. It seems that every few months a new “Solana killer” arises. These projects offer higher speeds, cheaper transactions, and new beautiful code that they say will unseat Ethereum. We've seen it all before. Let's be real with each other. Are these claims truly valid?
The Ethereum Virtual Machine (EVM) is more than technology, it’s a standard. Imagine it as the blockchain universe’s USB port. Everyone uses it, everyone understands it. That's why Jeff Garzik, a guy who was around since the dawn of Bitcoin, is betting on Ethereum's long-term dominance. He knows that network effects are a helluva drug.
EVM compatibility isn’t simply a question of development ease, it’s a question of ecosystem depth. Consider building a house if each brick had a different size. It’s possible to do so for sure, but it will be your highness’ daily administrative burden. Beyond that, you’ll be restricted on the type of content you can produce. That’s the reality of building on a non-EVM compatible chain.
Solana can process transactions at a significantly higher speed than Ethereum. Aptos and Sui have a lot of flashy new features. Speed and novelty aren’t the whole story. What about security? What about decentralization? What about the developer community?
Mostly I just hear the echo of those early Microsoft browser problems that Garzik is describing. The analogy is spot on! Just because something is flashy and has a great new interface doesn’t ensure that it’s actually been built to last. It’s not magic, it’s building on a strong base and history of success.
The recent surge in Ethereum's price, exceeding $3,800, and the massive $2.12 billion inflow into spot Ethereum ETFs aren't just random market movements. They’re a vote of confidence in Ethereum’s staying power. Smart money is already flooding in, and not only due to the hype cycle. It's because of fundamentals. That says a lot for companies to be loading up on ETH.
Let's talk about developers. They are truly the lifeblood of any blockchain ecosystem. Without developers, you have no dApps, no DeFi, no NFTs, nada! And where are most developers building? On Ethereum and EVM-compatible chains.
- Ethereum: Battle-tested, decentralized, massive developer community.
- "Solana Killers": Fast, potentially innovative, but unproven and often centralized.
Why? Because that’s where the tools are, that’s where the community is, and that’s where the users are. It’s a vicious cycle that’s easy to get trapped in.
Think about it this way: trying to convince developers to build on a new, unproven chain is like trying to convince people to move to a new city with no infrastructure, no jobs, and no culture. Good luck with that!
And let's not forget about sustainability. Others “Solana killers” continue to boast about their energy efficiency. At the same time, Ethereum is doing its part to improve its own sustainability with the upgrade to Proof-of-Stake. This is more than an environmental plus, it’s a boost for long-term sustainability. Climate tiredness Investors are increasingly concerned with the environmental consequences of their capital allocations. At the same time, Ethereum is positioning itself to show the world how blockchain technology can become more sustainable.
Here's an unexpected connection for you: think about the legacy systems that still power much of the world today. COBOL, one of the oldest programming languages in existence, at one point powered much of our critical infrastructure. Why? 1 It’s reliable 2 It’s understood 3 It’s deeply integrated into existing systems
The EVM is quickly becoming the COBOL of the blockchain world. It’s not the sexiest technology in the world, but it’s the infrastructure that everything else is being developed on top of. This is the reason why I’m putting my bets on Ethereum’s long-term dominance. The “Solana killers” will get their time in the sun, but Ethereum’s EVM empire isn’t going anywhere.
Sustainability: The Progressive Edge
And let's not forget about sustainability. While some "Solana killers" boast about their energy efficiency, Ethereum is actively working on improving its own sustainability through the move to Proof-of-Stake. This isn't just good for the environment; it's good for long-term viability. Investors are increasingly concerned about the environmental impact of their investments, and Ethereum is positioning itself to be a leader in sustainable blockchain technology.
The Unexpected Connection: Legacy Systems
Here's an unexpected connection for you: think about the legacy systems that still power much of the world today. COBOL, for example, is an ancient programming language that's still used to run critical infrastructure. Why? Because it's reliable, it's understood, and it's deeply integrated into existing systems.
The EVM is becoming the COBOL of the blockchain world. It might not be the flashiest technology, but it's the foundation upon which everything is being built. And that's why I'm betting on Ethereum's long-term dominance. The "Solana killers" might have their moment in the sun, but Ethereum's EVM empire is here to stay.