Reddit Co-Founder and Solana Ventures Team Up On $100M Web 3 Social Media Initiative
Reddit co-founder Alexis Ohanian and Solana co-founder Raj Gokal collectively announced a $50 million fund with Solana Ventures to invest in Web 3.0 social media technology today.
Solana is a public blockchain platform. It achieves consensus using proof of stake and proof of history. Its internal cryptocurrency is SOL. Bloomberg considers Solana to be "a potential long-term rival for Ethereum". Like Ethereum, Solana can interact with smart contracts.