After the collapse of FTX, a number of crypto entities once tied to the bankrupt crypto exchange are trying to pick up the pieces and move forward. As for Solana — a leading layer-1 blockchain backed by FTX and its outspoken founder, Sam Bankman-Fried — its co-founders see this downturn as an opportunity for its team and developers to build and ignore. the noise.
“It’s just a time of immense fear, but there is immense opportunity,” Solana co-founder Raj Gokal told TechCrunch. “There’s a lot of signal and a lot of noise.”
Developers in the space who have weathered the last crypto market cycle see Solana’s ability to handle high levels of transaction throughput as an advantage over some other blockchains and remain bullish on the technology underpinned. more generally, Gokal explained. “They don’t just pay attention to what’s happening in the market. What excites them is what they can build, and they still build it.
“Many of them feel the urgency to be ready with their products [for] the next cycle, so when this next market cycle comes, there will be a lot of new users trying to experiment with products in crypto and we expect that to happen next year.