Helius CEO Mert Mumtaz stated that the Ethereum Virtual Machine (EVM) will not maintain its 95% market dominance in the long term. Mumtaz believes that in any free market technology competition, leaders do not maintain their overall market advantage for long periods of time. Mumtaz said, "I have never seen a technology that occupies 95% of the market share, and people are betting that it will continue to grow (relative to market share) in the next five to ten years, even Windows did not maintain this dominant position for a long time." Mumtaz believes that the Solana Virtual Machine (SVM) and MoveVM are "objectively" better technologies than EVM, and they are also distributed through the modular theory of blockchain.
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