Topic: Solana had a big network fail recently - why decentralization matters (Read 230 times)

IMO, I think it is a technical problem and I have no expertise about it but based on the information that you give the Solana Network was very congested at that time. meaning the system was flooded with more (400,000Tps) Just imagine it was a huge transaction in the queue that waiting to be processed correct me if im wrong, if the Network is not designed to handle that huge volume of transactions what can we expect? I can't find any hole in relation to decentralization/centralization it is a simple system glitch that needs to be improved and fixed so it's not an issue of decentralization/centralization which is portrayed by the OP. I believe that the Solana community is already enlightened about that glitch thats why instead of going down the SOL price achieve another ATH. 

Solana suffered from high volatility after the network became flooded with transactions.It was because the Solana Mainnet Beta experienced a massive increase in transaction load, peaking at 400,000 TPS. These transactions flood the transaction processing queue, and the lack of prioritization of critical network messages causes the network to start branching. we can monitor : https://solscan.io/txs for transactions and status of Solana failure and major network problems.

Meanwhile, SOLONA updated ATH today. I could not find a link to the source of this news? I simply do not serve behind the project, because I was not involved in it.

How Solana Blockchain failed!

If you have followed Altcoins news, you have heard of Solana network fail for sure.
It was a few weeks ago, where really nobody could sucessfully receive a transaction of Solana coins.

It was impossible for hours to do any transaction of Solana coins at all what it an huge issue, if your really need to SEND some coins but it doesn't work.

Solana devs needed to adjust Solana Blockchain manually (which is very risky to compromise data and security) and after some time people could access Solana Blockchain again.
But now imagine, if a person goes to Solana office or Xi Jin Ping orders Solana to delete all Solana coins. Solana developers could access it and because it is centralized, all people will suffer.

For a famous crypto currency, it is worst case! Solana price was very lucky for such a massive fail to be not much devalued because Solana had just proven it is not credible as a good coin.
It was very disappointing how Solana had failed.

What coin should we choose instead?

We should choose proven, decentralized coins, where experts have verified Blockchain technology and decentralisation is proven already. Examples are like Bitcoin (existent for 12 years now and works every time as a decentralized coin), Ethereum (works now for 6 years and has earned place 2 behind Bitcoin), Tezos (it's a swiss coin, has created a credible tech and is a number one choice for NFT) and Avalanche (it's created by an University professor of coding and Avalanche has already proven for large volumes)

If you use a proven coin, a loss is much more less probably. Experts always trust proven coins!

You are right that if we are afraid of risks we should invest in mainstream proven coins, but actually, they will give us big profit in a long term, but I prefer diversify my capital between conservative fundamental currencies and buy some risky altcoins. This way losses from them can be covered by key part of capital and also I can earn more money as altcoins are more likely to give X than big currencies.

How Solana Blockchain failed!

If you have followed Altcoins news, you have heard of Solana network fail for sure.
It was a few weeks ago, where really nobody could sucessfully receive a transaction of Solana coins.

It was impossible for hours to do any transaction of Solana coins at all what it an huge issue, if your really need to SEND some coins but it doesn't work.

Solana devs needed to adjust Solana Blockchain manually (which is very risky to compromise data and security) and after some time people could access Solana Blockchain again.
But now imagine, if a person goes to Solana office or Xi Jin Ping orders Solana to delete all Solana coins. Solana developers could access it and because it is centralized, all people will suffer.

For a famous crypto currency, it is worst case! Solana price was very lucky for such a massive fail to be not much devalued because Solana had just proven it is not credible as a good coin.
It was very disappointing how Solana had failed.

What coin should we choose instead?

We should choose proven, decentralized coins, where experts have verified Blockchain technology and decentralisation is proven already. Examples are like Bitcoin (existent for 12 years now and works every time as a decentralized coin), Ethereum (works now for 6 years and has earned place 2 behind Bitcoin), Tezos (it's a swiss coin, has created a credible tech and is a number one choice for NFT) and Avalanche (it's created by an University professor of coding and Avalanche has already proven for large volumes)

If you use a proven coin, a loss is much more less probably. Experts always trust proven coins!

What amazes me is that, although Solana had problems that should have destroyed the trust of her community, it didn't seem to have much effect.  And I agree, in the end with an incident like that, it makes me personally feel that I have to be more careful in choosing coins to invest

Agreed, This has been talked by so many people in the past but it seems like that SOL community was still defending it. People are still calling the centralized proven as decentralized exchange site. that's quite strange to see that if there was a blockchain was running by thousands of nodes are getting stopped instantly.

They probably developed a great tech but I didn't know Tezos as the number one choce for NFT hehe.

What's a "proven coin"? What are the parameters? Length of existence? Then how about Doge?

What coin should we choose instead?

We should choose proven, decentralized coins, where experts have verified Blockchain technology and decentralisation is proven already. Examples are like Bitcoin (existent for 12 years now and works every time as a decentralized coin), Ethereum (works now for 6 years and has earned place 2 behind Bitcoin), Tezos (it's a swiss coin, has created a credible tech and is a number one choice for NFT) and Avalanche (it's created by an University professor of coding and Avalanche has already proven for large volumes)

If you use a proven coin, a loss is much more less probably. Experts always trust proven coins!

I think some other blockchains like BSC and polygon have the same problem as SOL.

I understand that this will affect the investment and the risk is very high so it should be considered before investing, but any Every blockchain has its advantages and disadvantages so I am sure that on the project side they will have a direction to correct these flaws. So we don't have to worry so relax.