The Untold Story Behind Solana Founder Toly’s Success
TechFlow Selected TechFlow Selected
The Untold Story Behind Solana Founder Toly’s Success
Two cups of coffee and one beer in, the gears of Toly's fate began to turn quietly.
Navigating Web3 tides with focused insightsAuthor: Pix
Translation: 1912212.eth, Foresight News
On an ordinary night, after two cups of coffee and a beer, Toly Yakovenko's fate began to shift. Today, his startup Solana has a market capitalization of $80 billion. Behind this dazzling success lies a little-known story waiting to be uncovered.
In 2010, Toly first encountered cryptocurrency when he tried mining Bitcoin. Just as he thought he had found a better method—he was scammed…
Years later, while developing deep learning projects using GPUs, he decided to mine ETH to offset operational costs. As ETH prices surged—he finally realized that cryptocurrency was far from a joke.
A few weeks later, the gears of fate began to turn…
Toly and his friends were discussing blockchain at a café. After two beers and a cup of coffee, Toly couldn't sleep.
That’s when inspiration struck…
He came up with the idea of using timestamps as the foundation for blockchain consensus—what we now know as Proof-of-History.
And thus, Solana was born.
Interestingly, its name comes from a surfing spot where he and his friends used to hang out.
In February 2018, Toly and another co-founder released the whitepaper and Solana’s first testnet. Over the next two years, they raised $20 million and launched the mainnet beta in 2020.
The public chain rapidly grew…
In March 2021, Solana launched its first NFTs (KREECHURES). With the lowest transaction costs, Solana became the preferred public chain for new NFTs and protocols. This helped Solana build one of the strongest communities in the entire crypto space.
Since then, Solana has weathered network outages and even the FTX collapse. Yet it endured, and today it:
-
Ranks 3rd in TVL
-
Has an $80 billion market cap
-
Ranks 2nd in NFT trading volume
-
Has 47 million monthly active wallets
All of this traces back to Toly’s effort that night, fueled by two cups of coffee and a beer.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
@PixSorcerer
