- Ethereum developer Justin Drake claims Layer 2 networks will surpass Solana in latency and throughput, shifting blockchain sector.
- Ethereum’s L2 networks, such as Base and Arbitrum, reported significant throughput increases in 2024, enhancing their performance metrics.
Ethereum and Solana are central figures in the blockchain sector, with recent developments suggesting a shift in their competitiveness.
Justin Drake, an Ethereum developer, recently stated in an interview that Ethereum’s Layer 2 (L2) networks are expected to outperform Solana in key performance metrics such as latency and throughput. This change could potentially mark a significant shift in the blockchain sector.
«Ethereum L2s are poised to overtake Solana’s advantage in latency and throughput, potentially ending Solana’s golden age.» Justin Drake, Ethereum developer.
Latency in blockchain technology refers to the time it takes for a transaction to be confirmed from the moment it is initiated to when it is recorded in a block. Drake noted that Ethereum’s L2 networks aim to achieve lower latency than Solana, enhancing transaction efficiency.
Throughput, measured in millions of gas processed per second (Mgas/s), evaluates a network’s capacity to handle operations and reflects its scalability. Reports indicate that Ethereum’s L2 networks like Arbitrum and Optimism (OP Mainnet) have seen considerable increases in their throughput in 2024.
Specifically, Base, an L2 solution on Ethereum, recorded a 12% increase in throughput last month and more than 1,300% in the past year, reaching 15.00 Mgas/s. Meanwhile, Arbitrum and OP Mainnet experienced throughput increases of 23% and 30%, respectively, during the same period.
On the other hand, Solana, which does not measure its operations in gas, assesses its performance by transactions per second (TPS). According to its blockchain explorer, Solana currently processes an average of 4,000 TPS, a figure significantly higher than Base’s 60 TPS.
The comparison of TPS across networks, however, does not fully encompass scalability since it does not consider the complexity of the transactions involved. Some transactions are straightforward, such as token transfers, while others involve more complex operations like smart contracts that require more computational resources.
In response to Drake’s remarks, Anatoly Yakovenko, co-founder of Solana, posted on X with an image of an orc warrior from “The Lord of the Rings” and a statement about the end of Solana’s golden age, hinting at a new focus on multisig technology.
The golden age of solana is over, the time of the multisig has come. https://t.co/Z7qTldr4fX pic.twitter.com/Z96dFEtdwx
— toly 🇺🇸 (@aeyakovenko) November 29, 2024
Multisig, or multiple signature technology, enhances security by requiring multiple approvals for a transaction, adding an extra layer of security against unauthorized movements of funds.
While Drake’s comments suggest Ethereum’s L2 networks are gaining ground, Yakovenko’s cryptic response hints at potential new developments in Solana, emphasizing the ongoing innovation and competition within the blockchain industry.
