Featured image from Solana.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
A recent statement made by Austin Federa, a strategist at the Solana Foundation, has sparked a widespread debate within the crypto community. On Monday, Federa proposed a novel conceptualization for several enhancements on the Solana blockchain via a post on X, suggesting that “most of the L2-ish things on Solana are better thought of as Network Extensions.” \u201cWhile the underlying tech stack might resemble Bitcoin or Ethereum L2\u2019s, the function and role is so radically different I think founders would best be served by Network Extensions. Network Extensions extend the Solana network to new places, or bring new execution environments, specialized processing, etc to the Solana network. State Compression, cNFTs, Neon\u2019s EVM layer, maybe even Phoenix all fit this mental framing imo,\u201d Federa wrote. Why This Could Put Solana \u2018In Limbo\u2019 Responding to this post, Ignas, a popular crypto analyst and co-founder of Pinky Brains, voiced his analysis and concerns to his 105,000 followers on X. Ignas highlights the critical nature of the ongoing debate about Solana’s developmental strategy. He raises a fundamental question about whether the crypto community will embrace the new “Network extension” terminology or continue to favor the Layer 2 framing. Related Reading: Solana\u2019s Surge: Here\u2019s Why This Analyst Is Predicting A Rise To $360 Ignas elaborates on the potential risks associated with Solana\u2019s rebranding of its scalability solutions as Network Extensions. He cautions that if Solana’s transition leads to negative outcomes similar to those experienced by Ethereum\u2014such as liquidity fragmentation and a degraded user experience due to the complexities of bridging between layers\u2014then the future of SOL could be jeopardized, leaving it in a state of limbo. \u201cETH was stuck between BTC and SOL during this bull run. BTC was \u2018better money\u2019 for less conservative and institutional investors, and SOL as a faster, simpler, and cheaper smart contract platform with higher upside than ETH. If Solana narrative shifts from a monolithic model to scaling with L2s (like Ethereum), SOL could become the new ETH. [..] then SOL is truly in limbo,\u201d Ignas warns. The impact on the Solana price could be significant. According to Ignas, Ethereum would remain the \u201csafer option\u201d for long-term investors because of its higher decentralization and no downtimes. \u201cPlus, if degens start chasing \u2018network extension\u2019 tokens for SOL beta instead of buying SOL, it could stagnate SOL’s price growth,\u201d the analyst added. Related Reading: Analysts Unanimous: Solana (SOL) To Soar 100% \u2013 Details Meanwhile, Ignas did not dismiss the potential advantages of Solana’s strategy entirely. He acknowledged that integrating Network Extensions from the outset, with aggregation layer solutions already in place\u2014a step Ethereum had not taken during its initial Layer 2 rollouts\u2014could mitigate some of the common challenges associated with Layer 2 solutions. This proactive integration could preserve a unified user experience and prevent the fragmentation of liquidity. \u201cAs a result, Solana could maintain the \u2018monolithic narrative\u2019 while benefiting from modular approach solutions. The \u2018network extension\u2019 narrative could then prevail,\u201d Ignas concludes. However, if the Solana narrative shifts to L2s, there could be an empty void for a new monolithic champion. The crypto analyst concluded: \u201dSolana’s shift to a modular scaling approach creates an opportunity for a new monolithic scaling champion in the eyes of crypto community. Could this be the perfect moment for Monad to launch? Or will another Layer 1 blockchain seize the monolithic chain crown from Solana? Exciting!\u201d At press time, SOL traded at $134. Featured image from Solana.com, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":639537,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[12837,89406,86420,83626,92246,92998,89405,85361,91047,83627],"class_list":["post-639534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-sol","tag-sol-news","tag-sol-price","tag-solana","tag-solana-analysis","tag-solana-extensions","tag-solana-news","tag-solana-price","tag-solana-vs-ethereum","tag-solusdt"],"acf":[],"yoast_head":"\n
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Through his extensive work with uniquehot.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/uniquehot.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Solana (SOL) Is ‘Truly In Limbo’ If This Happens, Warns Crypto Analyst","url":"http:\/\/uniquehot.com\/news\/solana\/solana-sol-truly-in-limbo-warns-crypto-analyst\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/solana\/solana-sol-truly-in-limbo-warns-crypto-analyst\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/assets_ce0c7323a97a4d91bd0baa7490ec9139_1874ed15459645e7b8f3afb21a38041f.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/assets_ce0c7323a97a4d91bd0baa7490ec9139_1874ed15459645e7b8f3afb21a38041f.png?fit=1080%2C608"},"articleSection":"Solana","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["sol","sol news","sol price","solana","solana analysis","solana extensions","solana news","solana price","solana vs ethereum","solusdt"],"dateCreated":"2024-09-03T18:00:12Z","datePublished":"2024-09-03T18:00:12Z","dateModified":"2024-09-03T18:00:12Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Solana (SOL) Is ‘Truly In Limbo’ If This Happens, Warns Crypto Analyst\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/solana\\\/solana-sol-truly-in-limbo-warns-crypto-analyst\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/solana\\\/solana-sol-truly-in-limbo-warns-crypto-analyst\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/assets_ce0c7323a97a4d91bd0baa7490ec9139_1874ed15459645e7b8f3afb21a38041f.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/assets_ce0c7323a97a4d91bd0baa7490ec9139_1874ed15459645e7b8f3afb21a38041f.png?fit=1080%2C608\"},\"articleSection\":\"Solana\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"sol\",\"sol news\",\"sol price\",\"solana\",\"solana analysis\",\"solana extensions\",\"solana news\",\"solana price\",\"solana vs ethereum\",\"solusdt\"],\"dateCreated\":\"2024-09-03T18:00:12Z\",\"datePublished\":\"2024-09-03T18:00:12Z\",\"dateModified\":\"2024-09-03T18:00:12Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/assets_ce0c7323a97a4d91bd0baa7490ec9139_1874ed15459645e7b8f3afb21a38041f.png?fit=1080%2C608","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/639534"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=639534"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/639534\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/639537"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=639534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=639534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=639534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Solana](\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/SOLUSDT_2024-09-03_12-21-46.png?resize=3628%2C1675\")