Ethereum’s place near the top of the crypto market is unquestioned from the perspective of market cap. But beneath the surface – at the product, developer and decision-making levels – the original smart contracts platform continues to take a beating from Solana, one of its closest competitors.

The threat may not yet be existential. Ethereum and its many closely-linked networks are still the most important, influential, and largest platforms for decentralized finance. That lead is beginning to erode, however, with many newcomers to crypto choosing Solana’s speed and low fees.

It’s enough for some of Ethereum’s most vocal backers to muse if the network needs to shift to a war footing.

“Ethereum has been at peacetime its entire life,” ETH maximalist David Hoffman said on a recent episode of his podcast, Bankless. “Today, more people are thinking this period of Ethereum’s life has come to an end.”

The dynamic was further punctuated Monday with news that longtime Ethereum ecosystem developer Max Resnick was moving into Solana’s orbit, abandoning his job at the developer studio Consensys.

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Author: Danny Nelson