Ethereum’s co-founder Joseph Lubin has questioned the sustainability of rival projects, including the fast-growing Solana blockchain, as venture capital pours into a raft of new cryptocurrency networks.
The Ethereum blockchain has become one of the world’s most widely used digital ledgers, but it is facing challenges from rivals such as Solana, which has set lower transaction fees to draw in users.
Lubin told the Financial Times that Solana, which pitches itself as a faster and cheaper alternative to Ethereum, was paying outsized rewards to users who validate transactions on the network compared to the revenues generated by those transactions.
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