Solana holders need to know this before they decide to cut losses
Solana’s [SOL] probation period may be up if the team behind the project does nothing to solve its recurring challenges. Recall that Solana had been the victim of several exploits, and network issues, with some occurring repeatedly between June and September 2022.
The latest outage could be proof that the network needed improvements. However, before now, some investors had shown disappointment in the network following the wallet hacks in August. Recently, the project has come under heavy criticism from a crypto fund specialist, Justin Bons.
According to the CyberCapital founder and crypto researcher, if nothing was done to improve Solana’s issues, it could be better to leave the project.
<p lang=«en» dir=«ltr» xml:lang=«en»>1/25) Solana has been marred in controversy since its foundingWith frequent downtime, failures, hacks & scandals!
This is why I have put together a short & incomplete history of SOL's skeletons
Working our way down a colorful history of lies, fraud & dangerous trade-offs:
— Justin Bons (@Justin_Bons) October 3, 2022
Solana has been the victim of several exploits, and network issues, with some occurring repeatedly between April and September 2022. One noteworthy example that Bons gave was how one validator was enough to disrupt the whole network.
While Solana’s validator health report in August may have claimed excellent network health, the events on the chain may prove otherwise.
Despite reporting a Nakamoto coefficient of 31 above many other crypto projects, SOL was acting like it wasn’t leading other Proof-of-Stake (PoS) chains.
Additionally, Bons also claimed that SOL numbers across circulation supply, transactions, and Total Value Locked (TVL) were inflated.
However, DeFi Llama showed that Solana’s TVL
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