The main advantage of blockchain technology is supposed to be that it’s more secure, but new technologies are generally hard for people to trust, and this paradox can’t really be avoided — Vitalik Buterin
This is an article overview about Solana according to my perspective. The reason I made this article is to provide a balanced information about the blockchain.
Ethereum killer ? this is a joke ?
Many developers claim that their product would be the “Ethereum Killer”. Polkadot created by Gavin Wood, who served as CTO on Ethereum Foundation, for instance, and Cardano by Charles Hoskinson, who was the Co-founder of Ethereum, as well as Solana by Anatomy Yakovenko. These developers are competing with each other to be the one who would beat Ethereum.
Cardano and Polkadot were the first Blockchain who implemented the new system called “Proof of Stake”, which made them the third generation in Blockchain. Solana offers a new system called “Proof of History” (PoH). A cryptographic clock in Solana’s blockchain allows nodes to agree on time and in order, without having to talk to each other, enabling blockchain to work fast while maintaining security.
Nowadays Solana has 150+ projects so far and will continue to grow rapidly over the next year. Because of this, Cardano and Polkadot have also joined the rat race.
Cardano built a solid community through what they call the ‘Five Eras’: Byron, Shelley, Goguen, Basho, and Voltaire. Each era focuses on what Cardano should build simultaneously.
Polkadot’s system surely makes their community grow. With their cross-chain system, Polkadot is trusted by game developers, social media engineers, and even IoT.
Without a doubt, Solana is not just depending on fee and speed, but also working hard on competing with one another. At an early adoption stage, projects like FTX, Audius and Chainlink are the projects that support the Solana community.
The Scalability Trilemma as described by Ethereum’s Vitalik Buterin states that people can only have two out of either decentralization, scalability or security, so trade-offs are almost inevitable. Some choose speed and security over decentralization, while others choose a different mix.
Solana claims to be fast, secure and decentralized. This topic has been argued against debaters across interwebs. There were no arguments about their speed and security, however critics say it is not decentralized as people need expensive hardware to be a validator.
As for me, I just have a tiny bit of Sol right now to keep it for the long term. Even when 60% of Solana is distributed to the founder and foundation, while only 38% to community, I still trust them :). Though I don’t think that Solana would be the “Ethereum Killer”, at least not anytime soon.
You can also give me some tips to encourage me to build community.
My Addres : Hx5jTvbrpG8jr8oWSczWpzFRCYcdNtjnohWfQbbqXvQx
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