Cyber Capital founder and CIO Justin Bons recently caused a stir on Twitter with his comments about Solana.exist tweet For its part, Bons is skeptical of Solana’s long-term value and ability to compete in the same space with other blockchains that are more scalable but still remain decentralized.
Bunce’s comments came as no surprise to those who followed his views on blockchain. In October, days after Solana went down for six hours, he criticized the network on Twitter. Additionally, Bons claims that the Solana team “unnecessarily centralizes the network.”
Bons’ recent tweets have sparked a lot of debate in the crypto community, with some agreeing with him while others disagree. It was noted that Solana is a highly scalable blockchain that can handle over 50,000 transactions per second. However, Bons believes that Solana’s scalability comes at the expense of decentralization, a tradeoff he doesn’t want to make.
Cyber Capital founder fired #solanalong-term value of @azcoinnews https://t.co/nKb40Gux35
— Kyptos (@azcoinnews) March 12, 2023
Bons also raised concerns about the cost of running validator nodes on the network. He estimates it will cost up to $6 million to run a validator node profitably. This is an unnecessary design choice as PoH and other blockchains like Turbine sacrifice decentralization for scalability.
Despite Bons’ criticism, Solana has gained momentum in the cryptocurrency market, with its native token SOL surging in value in recent months. However, Bons believes that this growth is not sustainable in the long run, and Solana will eventually lose out to other blockchains that can achieve greater scalability while maintaining decentralization.
A Twitter user also asked Bons for his thoughts on the EOS blockchain. In response, Bons praised the EOS community for its resurgence after removing bad actors from the network. He also noted that EOS is more reliable, scalable and secure than Solana.
Bons specifically highlighted the importance of instant finality and inter-blockchain communication (IBC) in the EOS blockchain. These features reduce transaction completion times to seconds and provide unlimited horizontal scalability, which Bons sees as a key advantage of the network.
However, Bons also supports other blockchain projects such as EGLD and NEAR. These projects use on-chain execution and governance sharding. Overall, Bons’ comments demonstrate the importance of continued innovation and development in the blockchain space, as different projects offer different capabilities and tradeoffs.
- Solana (SOL) May Continue to Fall Before Correction Ends
- UGS Labs Opens First Automated Liquidity Provider for NFTs on Solana
- Shibarium Public Beta PUPPYNET is live, here’s why SBF is not Ryoshi
According to Kyptos