Regardless, you know SOL price will go up in the future.
So if there's an opportunity to DCA your bag, do it.
Topic: One of the largest centralized blockchain networks will be fail? (Read 108 times)
January 23, 2022, 11:54:07 PM
This is the expected end result of all blockchain networks, first Ethereum, then BSC and now Solana, all new networks are good when they are created because there is no congestion at the beginning but once the number of users increases, there is congestion and problems start delays and high fees, these problems will not end unless The solution is being found in a completely different way, I think they should start by completely changing the methodology of thinking in finding a solution to these problems because they recur with each new blockchain.
January 23, 2022, 11:27:22 PM
Sol needs to be fixed asap.
This can't be fixed instantly and there must be another upgrade to the its blockchain to fix this. The problem is if that attack was coming from the spam attack. If the blockchain can't handle it and it may happen forever. This is the main problem that needs to be fixed as soon as possible. It's caused by so many people are feeling frustated when sometime the blockchain chain is down. That's unaccepted by people caused by they called this as decentralized blockchain.
Glad I sold mine almost at the top.
Glad to see that happened with you. I have sold mine and waiting for the bottom to buy back again but im not sure about this as the shutdown that happened with solana blockchain is very annoying for me. 
January 23, 2022, 11:17:27 PM
Thats totally a red flag I guess. I am sure solana users will find a new nesting ground and habitat. For sure some will jump from sol to avax, matic or fantom. These three are likely to be the one that will be the next solana. Yes possibly ftm on which defi experts such as Andre and Daniel are currently residing and building. Most sol users will definitely find it more convincing to shift considering all the network down happened on sol.
January 23, 2022, 10:23:14 PM
Quote
1. Solana suffered from network overload due to bots spamming the network again this weekend.
2. The congestion prevented DeFi users from adjusting their collateralized positions as prices crashed, resulting in widespread liquidations.
3. Solana has faced similar issues on multiple occasions in recent months. It's aiming to resolve the issues in its new releases.
Many Defi and NFT projects have made Solana their base ground for the high gas fees of the Ethereum network. The Solana network easily became everyone's first choice for high transaction speeds and nominal fees. But Solana network has been in congestion issue several times since 2021. While many thought that Solana would be a good alternative to Ether network or BSC Congestion problem but the same problem has arisen in Solana too. Will one of the largest centralized blockchain networks finally be able to solve the problems of Eth Network and BSC or will it also appear as a failed project?
As we kept watching the market, what I realized is different utility networks can co-exist and prosper while competing with each other and one won't necessarily make another absolute. If a platform is to fail, they need to lag far behind the current trend. The problem with solana was it was hyped large and grew quickly than expected. It corrected itself after the network halt. All of these coins would keep facing challenges from the newcomers. For them to stay in business, they should be able to adapt and change their network.
January 23, 2022, 10:06:50 PM
Sol needs to be fixed asap. Glad I sold mine almost at the top.
January 23, 2022, 09:02:20 PM
While many thought that Solana would be a good alternative to Ether network or BSC Congestion problem but the same problem has arisen in Solana too.
This problem will always come if the blockchain developers didn't know how to handle it. The capability of blockchain to handle the spam transactions totally depend with how big scalability that owned by the blockchain. Can i call that TPS that already promised by so many blockchain projects totally BS? It caused by so many times. These blockchains like solana gets congested even it has claimed to be the most scalable blockchain in the cryptocurrency. Will one of the largest centralized blockchain networks finally be able to solve the problems of Eth Network and BSC or will it also appear as a failed project?
The progress to fix this problem is take a long time because the update must be implemented by a lot of nodes and that needs the time. Basically any blockchain will have ability to fix this through implementing the new client but the question is do they have capability for this? I meant even bsc needs time to upgrade its scalability. It will not appear as a failed project but the expensive fees will force people to search for the new blockchain that has a better scalability. The congestion will always happen but a blockchain claimed to be decentralized and then its shutdown was the most horrible thing. 
January 23, 2022, 08:25:39 PM
in my opinion there is no chain that really proof with congestion after ETH gas fee we move to 2 layer like polygon or other chain like BSC now solana even all chain claim to be fast with low fee and high TPS but fail i dont think so 
u can look at bitcoin and ethereum the fee and confirmation time is slow congestion many times but people keep using it till date
but yes congestion is become proble VISA have high TPS but congestion will always there
That means, actually, people are okay still using bitcoin and ethereum and that proves the L2 needs to be developed more to fill the gap. So far, I still prefer to use BSC, which does not need to pay high fees and the transaction does not take too long. u can look at bitcoin and ethereum the fee and confirmation time is slow congestion many times but people keep using it till date but yes congestion is become proble VISA have high TPS but congestion will always there
People should realize that everything can not be instant as time will be all behind that transaction and there are so many transactions that the network needs to confirm. But we should feel helped by the L2 like polygon or other chains as that can be a solution temporarily if we do not want to use ethereum because of paying a high gas fee. Someday, every chain will fix the congestion or high gas fees problem for ethereum, bsc (if there are a problem), and even solana or other chains. We can only use any chain that we can accept.
January 23, 2022, 08:10:27 PM
in my opinion there is no chain that really proof with congestion after ETH gas fee we move to 2 layer like polygon or other chain like BSC now solana even all chain claim to be fast with low fee and high TPS but fail i dont think so u can look at bitcoin and ethereum the fee and confirmation time is slow congestion many times but people keep using it till date
but yes congestion is become proble VISA have high TPS but congestion will always there
u can look at bitcoin and ethereum the fee and confirmation time is slow congestion many times but people keep using it till date but yes congestion is become proble VISA have high TPS but congestion will always there
January 23, 2022, 07:19:10 PM
It's actually nice that you already touched on the chain centralization. The real talking point here should be the ability of the parties involved to shutdown the entire network and not just the congestion. I don't use Solana and probably never will based on those premises.
I don't think the network will totally collapse. For sure many are disappointed with that but they will remain as users since they prefer cheap fees over centralization anyways.
I don't think the network will totally collapse. For sure many are disappointed with that but they will remain as users since they prefer cheap fees over centralization anyways.
January 23, 2022, 06:57:41 PM
Will one of the largest centralized blockchain networks finally be able to solve the problems of Eth Network and BSC or will it also appear as a failed project?
As we can see, there's nothing we can do if any blockchain becomes congested, the result could be low-speed transactions and high gas fees. It was proven first by Bitcoin, Ethereum, and then BSC, followed by now Solana. Maybe the best solution is the more centralized blockchain would be better, we have an option to choose which is not congested.
I remember before when the founder of Ethereum said once version 2 of Ethereum comes the congestion of Ethereum will be gone, but look at how it seems they can't fix the problem. Transferring tokens to exchange seems sucks because of the high fees required
January 23, 2022, 06:51:25 PM
I am also using Solana right now and to be honest, I started to become pissed off with this issue of theirs, once or twice happened, is still OK for me, but this time again? Something is wrong.
I am just amazed how the community of Solana is active, even their team, if take a look at their latest update, Solana made an update right away for the fix. Let's hope this will be the last time.
I am just amazed how the community of Solana is active, even their team, if take a look at their latest update, Solana made an update right away for the fix. Let's hope this will be the last time.
January 23, 2022, 06:05:50 PM
Quote
1. Solana suffered from network overload due to bots spamming the network again this weekend.
2. The congestion prevented DeFi users from adjusting their collateralized positions as prices crashed, resulting in widespread liquidations.
3. Solana has faced similar issues on multiple occasions in recent months. It's aiming to resolve the issues in its new releases.
Many Defi and NFT projects have made Solana their base ground for the high gas fees of the Ethereum network. The Solana network easily became everyone's first choice for high transaction speeds and nominal fees. But Solana network has been in congestion issue several times since 2021. While many thought that Solana would be a good alternative to Ether network or BSC Congestion problem but the same problem has arisen in Solana too. Will one of the largest centralized blockchain networks finally be able to solve the problems of Eth Network and BSC or will it also appear as a failed project?
BNB is still far better rather than one even if BSC was hyst L2 solution. This will become another failed project. Centralized blockchain is shit. decentralized blockchain is everything. This can be a failed project like EOS, so many hype but it goes to the hell slowly. BSC is cheap enough. January 23, 2022, 01:46:43 PM
Quote
1. Solana suffered from network overload due to bots spamming the network again this weekend.
2. The congestion prevented DeFi users from adjusting their collateralized positions as prices crashed, resulting in widespread liquidations.
3. Solana has faced similar issues on multiple occasions in recent months. It's aiming to resolve the issues in its new releases.
Many Defi and NFT projects have made Solana their base ground for the high gas fees of the Ethereum network. The Solana network easily became everyone's first choice for high transaction speeds and nominal fees. But Solana network has been in congestion issue several times since 2021. While many thought that Solana would be a good alternative to Ether network or BSC Congestion problem but the same problem has arisen in Solana too. Will one of the largest centralized blockchain networks finally be able to solve the problems of Eth Network and BSC or will it also appear as a failed project?
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