Solana (SOL) is often referred to as the “Ethereum killer” due to its Layer1 protocol offering lower costs and faster transaction speeds.
Layer 2 represents separate blockchains built atop Layer1 chains to address scalability issues. The integration of Ethereum and the Lightning network for BTC are examples of Layer2 solutions.
New solutions with lower and more predictable transaction fees enable developers to create useful applications.
According to Jan van Eck, scalable databases are garnering interest in the cryptography community. However, it is unlikely that Ethereum ETFs will be approved by the May deadline. The U.S. Securities and Exchange Commission is not responding to issuer applications.