Ethereum Dev Max Resnick Defects to Solana, Citing ‘Frustration’

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As a seasoned analyst with over two decades of experience in the tech and finance industries, I’ve witnessed firsthand the ebb and flow of various markets and technologies. In my view, Ethereum’s reign as the undisputed king of smart contracts platforms is being challenged by a fast-rising competitor: Solana.

From a market capitalization standpoint, Ethereum’s position at the top of the cryptocurrency market is undeniable. However, when we delve deeper into aspects like product, development, and decision-making, the original smart contracts platform has been consistently challenged by Solana, one of its main rivals.

The threat may not yet be existential. Ethereum and its many closely-linked networks are still the most important, influential, and largest platforms for decentralized finance. That lead is beginning to erode, however, with many newcomers to crypto choosing Solana’s speed and low fees.

For some prominent supporters of Ethereum, it’s worth considering whether the network should transition into a state of heightened preparedness or conflict readiness.

According to ETH maximalist David Hoffman in a recent episode of his podcast, Bankless, Ethereum has always been in a peaceful phase throughout its existence. However, there is growing sentiment that the current stage of Ethereum’s development may be nearing its conclusion.

On Monday, the situation became more distinct as it was announced that Max Resnick, a seasoned developer in the Ethereum ecosystem, decided to shift his focus towards Solana, leaving his position at the development studio Consensys.

This past week marked my final day at Consensys. Today, I’ve embarked on a new journey with @anza_xyz.

I’m transferring my expertise to Solana.

Over the next 100 days, I aim to draft specifications for various aspects of the Solana protocol, focusing primarily on fee markets and consensus mechanisms where I…

— Max Resnick (@MaxResnick1) December 9, 2024

“There’s just so much more possibility and potential energy in Solana,” Resnick said in an interview with CoinDesk. He framed the decision as rooted in his own career path, but noted “frustration” with Ethereum’s inability to adapt contributed to the move.

He criticized a culture of ossification that gets in the way of progress. Ethereum lacks a streamlined process for making quick changes. Some see that as a point of strength for a decentralized network, while others, like Resnick, see it as a hindrance for long-term success.

Speed of an iceberg

Ethereum is often known for being a complex and somewhat challenging network, much like a formidable technological creature. Developers within its community frequently refer to co-founder Vitalik Buterin’s annual plans (or “roadmaps”) as a guide in monitoring Ethereum’s gradual advancement. However, significant modifications may take several years before they materialize.

According to Resnick, while Ethereum’s decision-making process may not be as chaotic and inefficient as Bitcoin’s, it still grapples with a significant amount of internal politics. Important discussions about enhancing the network are often taking place privately in Vitalik’s direct messages.

If quick adaptations are necessary to stay competitive, as I believe is the case for Ethereum now more than ever, then you’ll likely need to rethink and modify your current approach.

It was enough to prompt Resnick to search for a new home, and to land at Solana. He took a job at Anza, a spinoff of Solana Labs that is charged with building its core client. He said he’s a fan of Solana’s ability to move fast in the face of competition.

Off the iceberg

One startling moment in the brewing fight between Solana and Ethereum came last week from Pudgy Penguins, one of the best-known NFT collections on Ethereum. The team behind Pudgy Penguins is launching a token, called PENGU, but doing so on the Solana network, not on the NFTs’ home of Ethereum.

The shock announcement spurred plenty of hand wringing on crypto twitter.

1/ Launching the Pudgy Penguins on Solana isn’t just addressing Ethereum’s user experience issues.

It’s about exposing a more profound issue within Ethereum’s culture.

As someone involved in building a Layer 2 solution, let me explain why this is significant…🧵

— f(gautham)💤 (@gauthamzzz) December 7, 2024

At minimum, commentators viewed the decision as a sign of Solana’s advantage in being retail-friendly compared to Ethereum. However, many ETH-based projects have managed to avoid main-chain issues without fully departing from Ethereum. Instead, they construct on layer-2 networks that are positioned above Ethereum. In contrast, PENGU is entirely unrelated to Ethereum.

Last week, Ethereum researcher Justin Drake expressed his confidence in a CoinDesk interview that he remains unperturbed by competition. In his view, Solana may not prioritize longevity, or ‘health’, enough to be successful in the long term.

Resnick sees it differently. And he claims he’s not the only one.

In the ETH community, there are numerous individuals who have made substantial contributions, more than myself, expressing dissatisfaction with Ethereum’s current state and advocating for change. They’ve been voicing their concerns saying, “If these changes don’t materialize, I’m not sure how much longer I can continue working here.” This is what he stated.

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2024-12-10 01:26