Arthur Hayes, the founder and former CEO of BitMEX, stated that it will be “very, very difficult” for other smart contract platforms to surpass Ethereum 
$1,874, the king of altcoins. He emphasized Ethereum’s leading position in terms of innovative applications and the number of developers involved in its ecosystem.
Innovative Power of Ethereum
In an interview with The Big Whale, Hayes noted that the developers within Ethereum’s technology and ecosystem are the most innovative. He remarked that other blockchain networks often replicate innovations initially launched on Ethereum, stating, “The technology and people working in Ethereum are the most innovative, and then everyone else copies them. I don’t expect any other blockchain to surpass them based on new principles launched on Ethereum.”
Market Position of Solana
Hayes remarked that there is “a lot of noise” surrounding Solana 
$74, highlighting its good user interface and active community. However, he pointed out that Solana lags behind Ethereum in market value:
Solana has performed very well. They have a really good UI/UX. Their community is quite active. However, ultimately, it has a market value like a quarter of Bitcoin 
$64,336‘s.
$Continuous Development of Ethereum
Hayes stressed that Ethereum does not stand still and is continuously evolving. He noted that the introduction of Layer-2 solutions has reduced transaction costs and increased transaction speeds, saying, “Ethereum seems to be never stopping. Now there are Layer-2s, and transaction costs have been brought down to this level, allowing for faster transactions per second. This makes Ethereum competitive again and gives it other advantages.”
At the time of writing, Ethereum’s market value stood at approximately $296 billion, while Solana’s market value was around $68.1 billion. Hayes expected the king of altcoins to maintain its leadership position by preserving its current advantages.
Hayes explained that for a new blockchain to surpass Ethereum, it must introduce a novel and original technology outside of the Ethereum network. Otherwise, it is likely that Ethereum will continue to maintain its leadership.
Ethereum’s continuous development and innovative ecosystem continue to serve as a reference point for other networks in the industry. Hayes’ assessments highlight Ethereum’s strong position and future potential.
