I’ll start with September ’21 and the quote from Gavin Wood:
Events of today in crypto just go to show that genuine decentralisation and well-designed security make a far more valuable proposition than some big tps numbers coming from an exclusive and closed set of servers. If you can’t run a full-node yourself then it’s just another bank.
Fast forward to December ’21 and quote from Justin Bons:
Solana was DDoS attacked again. This attack exploited fundamental design flaws which are considered features by SOL. As it sacrifices decentralization & security for speed while ignoring the consequences of that trade off specifically Proof of History & Turbine (PoH).
A consequence of PoH is deterministic block creation: There is a good reason why public blockchains before SoL did not take this route. Non-deterministic block creation adds to security & censorship resistance as you cannot predict who will create the next block.
Instead in SoL it is possible to predict & therefore attack the next block producers. For instance attacking the next 100 validators instead of attacking the entire network. This attack also works regardless of scale, thereby severely reducing SOL security.
SOL security is not just reduced against DDoS attacks since this attack can also be combined with a 51% attack allowing an attacker to temporarily gain proportional staked control over the network by attacking other large stake holders. These are all consequences of PoH!
Combining Turbine with PoH leads to even more dire consequences: Turbine divides the transaction memory pool into small groupings of validators. This means that with PoH you can censor transactions by just attacking the specific validators in that grouping!
This is just one aspect of SOL’s design that exposes the bad faith of its creation. Prioritizing attracting ignorant cryptocurrency investors over good sustainable blockchain design. There are many examples like this in terms of design as well as lies & fraud, buyer beware
TL;DR: Solana is a shit network, SOL is a shitcoin and when VC dumps their SOL it’s gonna be spectacular like diarrhea. https://preview.redd.it/psyasl9d7tv71.jpg?width=1024&format=pjpg&auto=webp&s=aa1df1b169a468d5e8df4b18a4100c6bb7e0540d
ETH, DOT and ADA > SOL…
EDIt: wow the bots are downvoting everything even this comment: ” many people actually think centralization is fine. That isn’t a joke, I’ve heard countless times things like: “Centralization isn’t necessarily bad!” People don’t get the whole point of crypto.”
Any negative comment about Solana is downvoted to hell!
I mean if you downvote decentralization you have no business in being here and if you think that talking about the design flaws is a FUD or network that can be rebooted at any time and several times per year is ok then what can I tell you…