There a billion cryptos in the crypto market. Could Solana pass Bitcoin and Eth? If so, why?

  • J50@alien.topB
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    1 year ago

    Solana definitely has the best developer experience and that’s huge as far as pushing adoption. This factor alone could push it to the top.

    I don’t believe it’s the best cryptocurrency though. It has 3 big problems:

    1. not private/fungible
    2. weak decentralization - being a validator is too hard and there are few.
    3. high inflation & premine which funds solana investors & solana dev team

    2 big positive though:

    1. extremely cheap and quick transactions. However, given the claims of centralization, some argue that it should be competing with centralized systems instead of other decentralized cryptocurrencies. Compared to a centralized system, SOL isn’t fast.
    2. Extremely good 3rd party dev support. Things like Solana pay massively improve lower the bar for acceptance.
    • domeck123@alien.topB
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      1 year ago

      Agree with you with everything but the centralization argument. It really is not centralized, Solana has 2k validator nodes or 3k if you also count RPC nodes, distributed around the world. When the state needs to be replicated on each node every 400 ms it is not really comparable to centralized service.