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With Solana solidifying its position as the most efficient layer-1 blockchain in terms of speed and cost, several crypto developers are exploring the potential of leveraging Solana’s technology to launch their own blockchains.
Currently, there are approximately two dozen Solana Virtual Machine chains, including layer-1s, layer-2s on different blockchains, and application-specific chains. Here’s a brief overview of some layer-1 chains aiming to rival Solana:
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ToggleFogo
Fogo is an upcoming layer-1 blockchain that aims to maximize the performance of the Solana Virtual Machine by utilizing the Firedancer validator client on a permissioned validator set with multi-local consensus.
By forking Jump’s open-source Firedancer code and making certain decentralization tradeoffs, Fogo believes it can enhance Solana’s performance. The layer-1 recently raised $8 million at a $100 million valuation through the crypto crowdfunding platform Echo.
Pythnet
Pythnet, an SVM app chain powered by the popular Solana oracle Pyth, enables Pyth operators to run validators that provide price data, which is then aggregated by the protocol.
Pythnet, which was launched in August 2022, focuses on data and offers a decentralized solution for streaming price data. The platform has been operational for nearly three years.
Solayer
Solayer initially started as a Solana restaking protocol but pivoted to launch its own layer-1 powered by InfiniSVM after competition in the restaking sector intensified. The platform claims it can achieve one million transactions per second, although some Solana developers question these figures.
JupNet
JupNet, teased by Solana DeFi powerhouse Jupiter, is described as an “omnichain network” aiming to consolidate all cryptocurrencies on a single decentralized ledger.
While details about JupNet are scarce, the platform’s Jupiter SVM validators reach consensus on internal Solana transactions and external transactions from other blockchains. JupNet represents one of Jupiter’s most ambitious endeavors to date.
Cube
Cube Exchange is in the process of developing an SVM L1, as confirmed by co-founder Bartosz Lipinski in a Telegram message.
Thru
Thru, built on the new ThruVM, is led by co-founder Liam Heeger, a former core engineer on Solana’s Firedancer client. This background adds intrigue to the project, positioning Thru as a notable addition to the list of emerging blockchain projects.
