Consensys developer criticizes Ethereum and announces a move to the Solana blockchain

What’s new? One of Ethereum’s longtime developers, Max Resnick, has announced that he is moving to the competing Layer 1 (L1) blockchain Solana. Resnick previously worked at Consensys, which creates software for Ethereum and is the developer of the MetaMask crypto wallet, but as of December 9, he moved to Anza. This firm develops Solana client Agave and other blockchain solutions, as well as research.

Source: X.com

What else is known? In an interview with CoinDesk, Resnick noted that Solana has more potential and offers better features. He attributed his decision, among other things, to frustration with Ethereum’s inability to quickly adapt to the changing market and innovate changes.

Some see this as a strength of the decentralized network, while others, including Resnick, cite it as an obstacle to the project’s long-term prosperity.

Ethereum is known for being technically cumbersome. The Ethereum developer community uses the annual roadmaps of network co-founder Vitalik Buterin as a benchmark to track the progress of upgrades, which often take a long time.

Resnick notes that Ethereum’s decision-making process is not as siloed as the bitcoin blockchain, but rather the opposite: Big, important discussions over improving the network “are happening in Vitalik’s DMs.”

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“If you do need to make rapid changes to keep up with competition, which I think Ethereum has to for the first time now, then you are really going to need to change that process up somehow <…>

There are many people in ETH – many of whom have made much bigger contributions than I have – who are frustrated about the state of Ethereum and are asking for change, and who are saying, ‘hey, if these changes don’t happen I don’t know how much longer I will work here,’” the developer concluded.

Anza, which Resnick is moving to, is a subsidiary of Solana Labs, the company behind Solana development. At the same time, the programmer will continue to work with Consensys as a consulting analyst.

Consensys itself began cutting its staff by 20% in late October due to the rising costs of litigation with the US Securities and Exchange Commission (SEC).

Ethereum Foundation analyst Dankard Feist praised Resnick’s remarks, saying, he “finally opening the Overton window to speak about stuff that isn’t perfect in Ethereum land.”

Feist emphasized that ecosystem developers should be in the business of building a good product, which requires a willingness to publicly criticize.

Source: X.com

Earlier, Ethereum supporter David Hoffman on his Bankless podcast noted that this network, being the first smart contract platform, was a leader in its segment and did not fear competition. However, now such period of its existence is coming to an end.

In terms of capitalization, ETH is still the second largest cryptocurrency after bitcoin at $453,11 billion, but the network is inferior to Solana in aspects such as management and development processes and attracting innovative projects.

Notably, the creators of Pudgy Penguins, one of the largest NFT collections on Ethereum, launched the PENGU token on Solana last week. Some in the crypto community took this as a recognition of Solana’s superiority as a retail network.

Gautham, the co-founder of the derivatives protocol Polynomial, commenting on the news, said that Ethereum’s problem lies not only in the architecture, but also in management decisions, the skepticism of the major developers about the DeFi sector and their closure from the community, and high fees.

The Solana (SOL) native token is among the top 5 cryptocurrencies with a capitalization of $103,71 billion at the time of writing and is trading at $217,75, having added 114,4% since the beginning of the year. ETH with a rate of $3761,1 has a more modest growth of 65% over the same period.