Multicoin co-founder Kyle Samani said: “Solana is the only chain that scales at Layer 1 while preserving architectural and political decentralization, ensuring that smart contracts retain the key properties of being composable and modular.” “We’ve seen the challenges that developers are facing with Layer 2 and sharding solutions, and we’re excited to give them an incredibly simple alternative that doesn’t sacrifice performance,” Solana co-founder and CEO Anatoly Yakovenko said in a statement. “Other than Solana, all blockchains are single-threaded processors. That is, they can only make one state update at a time. This is the single greatest challenge holding back the industry today.”