Instead of eliminating competitors, we should make the cryptocurrency cake bigger – Solana developer Ferrante

Source: Blockworks

Translation: LianGuaiBitpushNews Tracy

Solana’s core network has achieved “many incredible improvements,” which will enable it to achieve a “rebirth,” said Armani Ferrante.

“You don’t choose product-market fit, product-market fit chooses you,” said Armani Ferrante. The developer, known for his work on Mad Lads NFT collections and the BackLianGuaick wallet, said that’s exactly what is happening with NFTs on Solana. Now, the creator foresees the growth potential of Solana in terms of new product-market fit.

Ferrante recently discussed his optimism about Solana’s future and the many innovations that may surprise skeptics on Blockworks’ Lightspeed podcast (Spotify/Apple).

Ferrante said that Solana’s core network has achieved “many incredible improvements,” which will enable it to achieve a “rebirth.” He said, “I am optimistic about this. I hope to see it rejuvenate and recover.” Ferrante said he continues to be interested in Solana because it has “superpowers.” He said, “All I need is a smart contract and a Helio subscription. That’s it. I can build applications that transfer billions of dollars globally without permission and with verification. It’s incredible.”

We easily underestimate innovation

Ferrante recalled his initial reaction to new innovations in the industry, admitting that he was initially skeptical of ideas that ultimately proved to be very successful.

He said, “I saw this in the NFT space.” His initial thought was, “I won’t get involved. It’s too silly.”

Ferrante said that when people are first exposed to new “toys” like automated market makers (AMMs) and NFTs, they are quick to have a “knee-jerk reaction.” He said, “It’s easy to scoff at it, but the fact is, many things that weren’t perfect at the time turned out to be very good ideas.” “I’ve witnessed this time and time again in the crypto space.”

Solana’s BackLianGuaick wallet

The BackLianGuaick wallet is capable of running embedded code for xNFTs and has broader functionality, which is an example of Ferrante’s development approach. He said, “You don’t actually know what you’re building before you start building it.”

He said, “We built BackLianGuaick just to have an excuse to start building something. It’s not about where you start, but the countless decisions and changes you make along the way to achieve a good state.”

Ferrante compared the attempt to understand the capabilities of the BackLianGuaick wallet to the difficulties consumers faced when the iPhone was first launched. He said Steve Jobs described it as an “internet communication device,” which was difficult for people to understand at the time. He said, “The iPhone can do more than just make phone calls and send messages. You have a rich developer ecosystem. You have an app store, you have a browser, you can access rich device features.”

“Any one of these things can describe an iPhone.”

“They are all different things, right?”

Similarly, a crypto wallet can be much more than just a token manager or an access control device, he said. Reflecting on Steve Jobs’ description of the iPhone, Ferrante said a crypto wallet is a “blockchain computing device” that serves as a central node for accessing data and the blockchain. He said that with BackLianGuaick, the goal is to integrate every protocol and every blockchain into a single user interface in an “iPhone-like way.” Ferrante said, “You can build a stunning flagship consumer product and position it more like a platform and an open ecosystem where anyone can build on top of it.”

In comparing Solana’s success path to other blockchains like Ethereum and Cosmos, Ferrante quoted Peter Thiel: “Competition is for losers.”

“We should focus all our energy not on trying to beat competitors, but on expanding the cake.”

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