Cyber Capital founder Justin Bons has taken a swipe at Solana, saying he does not see any long-term value in the project. In a tweet on 11 March, Bons said Solana’s scalability – which is much celebrated – is at the detriment of decentralization.
In his opinion, Solana cannot compete with blockchains that are able to achieve both scalability and true decentralization in the future.
A long-term Solana critic
Bons has been a critic of Solana for a while now. He criticized the project last year following the technical glitch that made it go offline for hours, saying that the blockchain is unnecessarily centralized.
The crypto fund manager who runs one of the biggest cryptocurrency funds in Europe believes the high cost of running a Solana validator has limited the number of people who can afford it, making only a few to control it.
Not many may agree with his position though, because Solana is seen as a viable option to Ethereum and its high fees. Fondly referred to as the “Ethereum killer”, the project has gotten significant attention since its launch, rising to become one of the top ten crypto projects by market cap before the recent market crash.
How SOL Is doing
At the time of writing this story, SOL is the 11th largest crypto by market cap, and has gained +0.73% in the last 24 hours. This makes it the best performing after Bitcoin, Ethereum, and Polygon.
It’ll be interesting to see what happens in the future, whether Solana will fizzle out, or continue to compete with other top projects.
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