Why is Solana still a thing?

Solana goes completely against the idea that cryptocurrency must be decantralised. It’s possibly the most centralised “mainstream” altcoin with a shady team that has historically lied about not only the fundamentals of the project like the circulating supply, but the shady members of the team have also been caught for fraud.

Much more advanced, more decantralised and Secure Level 2 competitors like MATIC exist, which have had infinitely better uptime, and security. Solana is not the cheapest, nor the fastest competitor either, so that’s not in it’s favour. There’s few projects. Fewer with any reasonable legitimacy. It’s just a hyper inflated L2 that has nothing holding it up other than hype and NFTs as fundamentals.

The only thing Solana has been consistent in, is underperforming, having outages, missing road map targets, getting hacked, and making false promises.

How many time does SOL have to be hacked, fucked, and stomped to actually die?

View Source

34 thoughts on “Why is Solana still a thing?”

  1. you say Solana is centralized then list Matic, one of the few chains that’s actually MORE centralized than Solana

    unlike Solana, Matic can be upgraded by a 5/8 multisig

    Reply
  2. Solana won’t die because it’s backed by some big boys with deep pockets. Those are the people who are getting larger companies into the crypto space. So of course they want those companies to use their product.

    A lot of crypto is like that.

    It’s not always the best technology that wins, it’s the people with the best contacts/sales team.

    Reply
  3. Why is Ripple still a thing? It was the first centralized primined crypto currency. Before XRP people in crypto could not conceive for a crypto currency to be premined and centralized. Then premined meant automatically scam. And after 9 years XRP is still in top 10, and most of the cryptocurrencies launched in last 7 years are premined, including ETH. Today you can hardly find a cryptocurrency that is not premined.
    This means that most crypto are scams backed by VC’s and other rich people? Probably.

    Reply
  4. A couple things-

    Solana didn’t get hacked. 3rd party wallets got hacked. Not the same thing. That’s like blaming Ethereum if metamask got hacked and you lost your coins.

    Also not sure how you define MATIC as “more advanced” what does that even mean?

    From speaking to developers, they all like Rust and say Solana is easy to work with, and to people who don’t care about decentralization, having a visible and influential leader with SBF is a good thing.

    Reply
  5. Matic is NOT that decentralized though. The fact is you gotta choose between decentralization or speed at this point. You can’t have both. So unless you have a solution to the trilemma, these types of posts are pretty useless.

    Reply
  6. You seem super knowledgeable on Solana. Can you explain the recent v1.10 network upgrade please? What it does and how it is helping the network address past outages?

    Can you discuss how many validators there are? And be sure to toss in the … but, but, how validation works on Solana is <insert long winded stuff here> and is not decentralized…..

    Can you explain, in detail, the 3 network outages, outline the course of events of the devs working with the validators, to bring down, patch, and restart the network? This is all well documented, and certainly someone of your vast knowledge is aware of these details…. right?… RIGHT?

    Can you share how a dapp clearly made a totally, and completely ignorant move to expose peoples keys? And how that has nothing to do with the Solana network?

    OR, you can keep regurgitating the 5x daily cut and paste postings by all the low IQ folks like yourself simply out of hate. I’m thinking the cut/paste will be the way. It’s easy and requires little actual effort.

    Reply
  7. Ah another moon farm post.

    Something something SOL bad. Something something buy ALGO/MATIC.

    Blah blah blah. Time to DCA SOL I guess.

    Reply
  8. It is not completely horrible.

    It does work quiet well and fast whenever not congested.

    Also I think Solana has a big community, that does alot to.

    Just look at Doge and Shiba and see what a big community does for a certain coin.

    Reply
  9. >How many time does SOL have to be hacked, fucked, and stomped to actually die?

    We get it. How many times are you going to bitch and moan about it? Everyone knows about Solana. People got out who sided with your opinion, people stayed in who disagreed.

    The constant anti-SOL posts here REALLY feel like at best cheap moon farming, at worst some well funded entity who bet against it trying to drive its price down as low as possible.

    Reply
  10. Remember when ADA was completely hated here?

    Poly Network did got hacked for couple hundreds million, but lucky that the shit got hacked by a white hat. That’s easy then, pretend to be a white hat to dupe the devs.

    Reply
  11. You are making the wrong comparisons. Solana is not an L2, it is its own standalone chain. It is a direct competitor to Ethereum.

    Reply
  12. because at the end of the day everything is more efficient when its centralized… even if a decentralized version of crypto is better than a centralized fiat system now, a centralized crypto system will be more efficient and safer than a decentralized one in the future… everything moves toward centralization after beginning as a decentralized construct because the efficiency and reliability will always exceed the capabilities and capacity of a decentralized version… banks used to be decentralized and overtime they became more and more centralized as necessary… centralization does have its pitfalls ofc but this is the nature of all capitalist financial markets

    Reply

Leave a Comment