At the start of the year, the Ethereum versus Salana debate kicked off again,

or because the Salana Foundation President Lily Lou told CNBC that Solana was the quote-unquote

most used chain. Lily said,

Solana throughout 2025 is more used than the entire rest of the industry combined, times

two to three, so Solana is already the most adopted blockchain.

I don't know if the Salana Foundation president really knew how much that would set some people off, but it did. Defy Dad posted on X, most used chain based on what? Deskies emoji. The drifting eye contact is a dead giveaway, even she doesn't believe it. Meanwhile, Nansen CEO Alex Svanavik pointed to Dex, volumes, active addresses and transaction counts as proof of Lilly's claim. Mike Judas of Six-Man Ventures and a friend of Blockworks sub-tweeted DeFi dad a few days later, quoting a news article that pointed out that Visa was now settling transactions on the most used blockchain in the world, which I thought was pretty cute. If you like me, then you're probably tired of the whole Solana versus Ethereum thing.

But the reason that people care so much about these metrics is that there is just a lot riding on even one chain figuring out how to attract and scale to billions of users.

Yes, that's right, it's the never-ending war between monolithic and modular blockchain thesis.

So in this video, we're looking at chains like Ethereum and Solana through the

lens of the market's recent shift towards quote unquote real metrics. It's the revenue

meter. Let's get to it. This is The Breakdown and I'm your host, David Canales. Nothing said on the breakdown is a recommendation to buy or sell securities or tokens.

This podcast is for informational purposes only and any views expressed by anyone on the show

are opinions, not financial advice.

Host and guests may hold positions in the company's funds or projects discussed.

Bitcoiners like to talk about hyper-bitonization, when Bitcoin is worth so much that it forces

the entire Earth onto the Bitcoin standard, pricing all goods and services in super-valiable

Satoshi's.

What is the blockchain version of that?

What do we call the true end state for a monolithic blockchain that doubles as the default

coordination layer for

6 billion plus people. Maybe it's hyperchainization or hyperchainified or something like that.

Meanwhile, it's definitely possible to show that Ethereum is the most used chain right now.

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