Justin Drake predicts end of Solana’s dominance as Ethereum L2 gains traction

• Ethereum developer Justin Drake claims that Layer 2 networks will outperform Solana in latency and throughput, changing the blockchain sector.
• Ethereum’s L2 networks, such as Base and Arbitrum, saw significant increases in throughput in 2024, improving their performance metrics.

Ethereum and Solana are central figures in the blockchain sector, and recent developments suggest a shift in their competitiveness.

Justin Drake, Ethereum developer, recently stated in an interview that Ethereum’s Layer 2 (L2) networks are expected to outperform Solana on key performance metrics such as latency and throughput. This change could potentially mark a significant shift in the blockchain sector.

“Ethereum’s L2s are poised to surpass Solana’s advantage in latency and throughput, potentially ending Solana’s golden age” Justin Drake, Ethereum developer.

Latency in blockchain technology refers to the time it takes for a transaction to be confirmed from the time it is initiated until it is recorded in a block. Drake noted that Ethereum’s L2 networks aim to achieve lower latency than Solana, improving transaction efficiency.

Throughput, measured in millions of gas processed per second (Mgas/s), assesses a network’s ability to handle transactions and reflects its scalability. Reports indicate that Ethereum L2 networks such as Arbitrum and Optimism (OP Mainnet) have seen significant increases in throughput in 2024.

Specifically, Base, an Ethereum L2 solution , recorded a 12% increase in throughput last month and more than 1,300% over the past year, reaching 15.00 Mgas/s. Meanwhile, Arbitrum and OP Mainnet experienced performance increases of 23% and 30%, respectively, over the same period.

On the other hand, Solana, which does not measure its transactions in gas, evaluates its throughput per transactions per second (TPS). According to its blockchain explorer, Solana currently processes an average of 4,000 TPS , a figure significantly higher than Base’s 60 TPS.

However, the TPS comparison between networks does not fully cover scalability, as it does not take into account the complexity of the transactions involved. Some transactions are simple, such as token transfers, while others involve more complex operations, such as smart contracts, which require more computing resources.

In response to Drake’s statements, Anatoly Yakovenko, co-founder of Solana, posted on X an image of an orc warrior from “Lord of the Rings” and a statement about the end of Solana’s golden age, hinting at a new focus on multisig technology.

Multisig, or multi-signature, technology enhances security by requiring multiple approvals for a transaction, adding an additional layer of security against unauthorized movement of funds.

While Drake’s comments suggest that Ethereum’s L2 networks are gaining traction, Yakovenko’s cryptic response hints at potential new developments in Solana, emphasizing the ongoing innovation and competition within the blockchain industry.