Former Director of Solana Foundation: Solana may surpass Ethereum in DApp

Matty Taylor, co-founder of Colosseum and former head of growth at the Solana Foundation, said in an interview that the Solana blockchain will surpass Ethereum in terms of consumer applications:

“As the last year has shown, Solana will continue to outpace Ethereum, bringing consumer applications and end-user experience to the level of Web3 and leveraging the performance of that chain to create fast and user-friendly applications.”

According to Alchemy, there are currently 1,668 decentralized applications (DApps) on the Ethereum network, more than three times the 477 in the Solana ecosystem.

Solana is often hailed as the so-called Ethereum killer because it has higher transaction throughput and faster transaction finality than Ethereum.

The fall of FTX and the subsequent bear market came at a harsh moment for the Solana ecosystem, which had been attracting more and more developers despite the drop in Solana token prices. According to Taylor:

“Over the last three to four months, as we’ve come out of the bear market, everyone is realizing that Solana as a network has been through some of the major tough times that most L1 ecosystems have been through, [like] Mount Gox vs. Bitcoin… the bear market of 2020, but Solana is coming out stronger than ever and has more developers building.”

According to DefiLlama, Ethereum’s total value locked (TVL) currently stands at $49.7 billion, more than 10 times Solana’s $4.01 billion TVL.