Austin Federa of the Solana Foundation, head for strategy and communications, said that two months have passed since the FTX collapse.
Federa describes the SOL token’s recent price crash as a temporary market reaction to the perceived link between Solana, FTX and FTX. While FTX founder Sam Bankman-Fried was invested in many Solana-based projects, Federa pointed out he didn’t have any influence on the network’s operations and fundamentals.
“The external perception was that there was a very close relationship between the Solana network and FTX, which wasn’t the case,” Federa explained in a recent interview with Cointelegraph.
Electric Capital has released a report that shows the Solana ecosystem has experienced a record amount of developers contributing to it.
Federa says that developers are building more on the Solana network due to its main value proposition, which is fast and cheap transactions.
“You can build new types of products and services that aren’t transaction-constrained,” he pointed out.
Federa responded to a question about the outages that plagued the network for the past year by pointing to a few technical upgrades that could improve stability over the next months. Priority fees have been introduced recently, which should help reduce transaction spam.
Federa also mentioned Firedancer, a new validator client that is expected to go live on Solana’s mainnet by the end of 2023.
To find out more about how Solana is recovering after the FTX collapse, check out the full interview on our YouTube channel, and don’t forget to subscribe!