Thursday, October 5, 2023

Is Solana an Apple Follower or a Crypto Leader?


Solana will open an NYC consulate. Unlike a UN embassy, which has diplomats and flags, this establishment is a storefront.

Solana Spaces serves Manhattan’s premium Hudson Yards neighbourhood. According to the Solana Foundation, crypto aficionados can learn more here.

Learn Solana’s and Web3’s inner workings. According to a tweet promoting Solana Spaces, they will set you up with a wallet and your first non-fungible tokens.

Apple Stores Inspired SOL’s Spaces

The Space’s simple elegance is inspired by Apple Stores, which propelled Apple (AAPL) to retail powerhouse status in 2001. White walls, seats, and ceilings create a bright, clean ambiance. Every bend and angle are soft.

Steve Jobs said Apple Stores are minimalist to showcase his design focus. He wanted to produce beautiful, easy-to-use items. The tech icon might have influenced Solana.

“Solana Phone” rumours circulated last month. Former Qualcomm engineer Anatoly Yakovenko co-founded Solana Saga to introduce cryptography to mobile devices. A SOL Phone might encourage crypto use like the iPhone expanded internet use.

The SOL Phone is a must-have crypto wallet. A developer stack helps create, distribute, and install cryptographic apps. This is important since Apple blocks blockchain apps from its App Store.

Yakovenko told on CoinDesk TV’s “First Mover” that everything great about crypto hinges on self-custody. He criticised self-worst custody’s user experience.

Solana’s ambition is to create a retail-friendly tech stack. It’s following a successful global corporation’s model, but many others have failed.

The Solana Foundation might be accused of floundering while its crypto network is frequently down. Given the expense of real estate in Manhattan, a phone and “embassy” are expensive bets.

Solana as Ethereum Alternative

Solana was meant as an Ethereum alternative, however, it hasn’t caught up in adoption, performance, and other crucial indicators. Lower node operators, holders, and market cap. If its software doesn’t stand out (at a time when Ethereum is overhauling to be more user-friendly), perhaps its hardware and real-world presence will.

Some Ethereum proponents say Solana Space shows network centralization. Solana, like most blockchains following Bitcoin, was established by a nonprofit.

These activities fit Solana’s “brand.” Solana’s scalability and cost-effectiveness set it apart from the competitors. Blockchain’s weighty and expensive connotations put them off.

Gary Gensler, the SEC’s top cop, might comment on the “anticipated profit” from creating and marketing phones and a retail footprint, even though the firm building Solana is separate from the network.

How will New Retail Networks Affect Crypto?

This question is important, as is the long-term plan. Would Algorand establish up shop across from the mall or launch an awning like Apple (AAPL)?

It’s hard to conceive how the world might change if half the populace always carried a SOL Phone.

Yakovenko often highlighted Solana Pay as a way to “buy a cup of coffee” with bitcoin in interviews. Could there be hundreds of algorithmic private currencies in the future? If the dollar crashes.

First, Bitcoin failed as a payment method. Nobody wanted to pay capital gains tax on top of sales tax, no matter how long and how much technology made transactions. The law and technology have advanced. Micropayments may spread. Many use Lightning and Phantom, but Apple Pay works perfectly.

Yakovenko sees crypto as a tool to encourage collaborative development. Solana Phone is better because it doesn’t need a gateway. This is a nebulous genesis myth for the crypto sector.

Peeking inside the shop shows the creativity of Solana (officially not open). NFT-themed and meme-themed merchandise are available. Blanksoles sneakers are a collectible. They also show hands-on art and app demos.

Apple’s history parallels the industry trend toward portable, powerful gadgets. In the 1980s, when building-sized mainframe computers were new, their success depended on PCs. The iPhone debuted.

Cryptography’s role in the IT revolution is debatable. Solana positioned itself as a danger to Big Tech, but now it seems to be following in its footsteps.

Miguel Garcia
Miguel Garcia
Miguel Garcia is a writer for Cryptoconstellation. Miguel has always been fascinated with Crypto. He has experience in Business and finance. Miguel loves sport cars and football.

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