Ethereum co-founder: Solana and other networks need to “figure out a more sustainable business model”

In an interview with the Financial Times, Ethereum co-founder Joseph Lubin questioned the sustainability of rival projects including Solana.

Joseph Lubin said Solana positions itself as a faster and cheaper alternative to Ethereum, but the rewards it pays to users who validate transactions on the network are "huge" compared to the actual revenue generated by the transactions. Lubin said Solana needs to "figure out a more sustainable business model for the network."

“It’s natural,” he said. “All the projects in the ecosystem are basically fake it until they make it, or they die.”

In response to Lubin’s criticism, Solana Labs responded that “looking solely at protocol revenue does not tell the full story about the long-term performance of a blockchain’s economic model.”