Part 5/8:
Gokal emphasizes that while Bitcoin was the first decentralized digital currency and Ethereum introduced smart contracts, the introduction of Solana has worked to address critical issues such as transaction speed and costs, providing a foundation for building applications without the constraints of existing systems. He details Solana’s capabilities: capable of handling thousands of transactions per second and doing so at a fraction of the cost of transactions on Ethereum.
Gokal also describes the importance of token economics—the native token of each network being vital for transactions on their respective blockchains, helping maintain efficiency and security while powering the wider ecosystem through incentivization.