Our Thoughts on Solana and Blockchain Decentralization
Solana has quickly risen as one of the top cryptocurrencies by market cap and one of the most hyped on the board as well.
Does it live up to this hype? There are a lot of questions surrounding Solana, it's begginings and the current status of chain decentralization.
With all of these questions, we must also weight the incredible things happening on Solana:
- Insane increase in developer and founder activity
- VCs backing it to the moon with billions of dollars
- Fast and low-fee TXs
In this clip, we talk about Solana and I ask Neal if he thinks the chain is decentralized - as he has more experience with it than @scaredycatguide and myself.
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▶️ 3Speak
To be honest, if you bought SOL under $0.30 in early 2020 it really doesn't matter because as discussed, true decentralization doesn't exist and it is pretty fast and very cheap. It is what it is...
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A spectrum of decentralisation is an interesting concept and made me wonder . . .
Is true decentralisation currently even possible and how do coins like Monero fit into that?
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I'm not sure if Solana will be decentralized even if they claim to become so. A lot of sketchy upcoming Projects
I don’t think SOLANA is truly decentralization, ever since it’s network shut down for a couple of hours, I started doubting its decentralization
Solana has risen very fast, but I think it became the NFT spam haven. Spammers and fake projects (or without any value) are booming everywhere to take your money. And it is very centralized and when they have a bug everything is frozen.
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Solana is about making $, i don't think it will be a long-run big hit. Chain is too centralized for that and also really expensive to run.
Decentralization is the most over used and misunderstood word in crypto and I think people twist it to their own advantage.
Decentralization: A good token distribution and a method of consensus on how to move forward, while still having enough stake to make decisions and move forward.
Regarding SOL, I like it and I own it. It works well. There are many projects that have strengths and weaknesses, great discussion with lot's to think about it.
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Didn’t they turn solona off for a while? Lol
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enjoy the short videos. thanks
Decentralisation of solana is very possible but my concern now is how it gonna work out
In fact I really enjoyed the video. Thanks
Currency of the future? It is necessary to generate greater stability, a fall for more than 8 hours without production of blocks does not generate confidence.
we'll see what happens
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Thanks for the info on Solana. Sharing with a friend who has recommended it to several people. Upvoted and rehived.
I haven't looked at how Solana works but I think with this video,I know what am expecting
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Another "Killer" in the making. Seems like we get the "next one" every year or so.
It is funny how things are really just matters of degrees. There are levels of decentralization. Would anyone say that Bitcoin is centralized? I dont think so. However, as was pointed out, it isnt as if tens of millions of people are mining on their phones. There are major farms set up, controlled by large companies.
Is that decentralized? It actually is similar to the existing monetary system where commercial banks are now very large institutions that create the money supply.
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That's a very big move to Solana. We can't wait to see more of it move.
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Solana seems pretty chill, and there's always lessons to be learned from how chains explode in "value" and popularity for the next cycles, if SOL can reach these heights, HIVE absolutely can crush them IMO. Good clip!
Solana and Polygon is on my list after I got into Avax and Terra.
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Sol is gonna go to $900