- Solana founder and Celestia COO discuss Ethereum’s potential competition in cost and data availability.
- Anatoly Yakovenko argued Ethereum is steering a $300 billion ship, stressing technical risk.
- Nick White claims a modular-to-monolithic shift would be more formidable than Ethereum’s transition to proof of stake.
In a recent episode of the Unchained podcast, notable figures in the blockchain space discussed the contrasting approaches of modular and monolithic blockchains. Chris Burniske, a partner at VC firm Placeholder, asked Solana founder Anatoly Yakovenko about Ethereum’s potential competition with Celestia, the first modular blockchain network designed to scale with user growth.
Burniske inquired, “Do you see a world where Ethereum can get to a place where it competes with Celestia on cost or data availability, or is that something it just wasn’t designed for?”
Yakovenko acknowledged the complexity of Ethereum’s journey, describing it as steering a $300 billion ship. He pointed out the inherent risks involved in initiating a technical modification on the blockchain as it impacts all projects already built on Ethereum. In his words:
“[Ethereum team] is steering like a $300 billion ship. If I were one of those engineers, I’d probably be moving even slower [to emphasize] the amount of risk they’re taking with every change.”
Nonetheless, the Solana founder consented to the likelihood of Ethereum attaining the projected level of competition. Additionally, he expressed optimism about the scalability potential of Ethereum dank sharding. Meanwhile, he argued the crypto community underappreciated the benefits of the Ethereum Merge and the substantial progress made in recent years.
Nick White, COO of Celestia, echoed Yakovenko’s sentiments. He commended the Ethereum community for its commendable ability to iterate and innovate despite its massive scale with numerous dependencies.
White asserted that the modular-to-monolithic shift was a more ambitious undertaking than Ethereum’s successful transition from proof of work to proof of stake. He praised the quality of research and engineering in the Ethereum ecosystem but cautioned that rolling out such fundamental changes would require time and meticulous planning. Nonetheless, he acknowledged Ethereum’s capability to eventually achieve its goals, albeit at a more deliberate pace.
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