Some Reasons Solana Isn’t Decentralized, All You Need to Know About it Solana

Solana is a cryptocurrency that has become the most popular currency in the world today, but some people also believe that it is not completely decentralized like bitcoin or other cryptocurrencies. As you all know bitcoin is a decentralized currency that sets the standard for assets with blockchain technology, it is specially designed to deal completely with certain policies of the Federal Reserve associated with centralized monetary. According to the standard, incoming crypto is measured, including a Solana (SOL). One can easily invest in the bitcoin crypto at bitcoin banker by using this method because there is a simple buying process, and nothing much formality is needed in it.

Solana (SOL) is considered an alternative to Ethereum and it charges lower fees and makes transactions with much faster speeds. While the price of payment is highly centralized with many features, many crypto users have also argued that Solana is not as decentralized as bitcoin or other cryptocurrencies. Let us know what is its real truth, is Solana decentralized?

  • Centralization creates vulnerability

The stability and security of the network are considered more than token allocation. The number of nodes is measured by blockchain technology. There are few computers tied up with the network consensus protocol. If we talk about blockchain technology, it has become the cornerstone of consensus. This technology is a distributed digital ledger, so its network consists of the entire ledger in a cog. Each cog means the transaction is verified authenticity against the full node key. The security of the same network depends on the nodes. Let us know how many nodes it holds and how many.

  • In comparison, ETH i.e. Ethereum has three times fewer tokens. This is a situation when smart contracts by some of the biggest cryptocurrency exchanges, Binance, decided to launch Smart Chain as a platform – Binance. Solana is a public blockchain, it’s a fair hog to say that it is a privately owned one. However, on the other hand, we lay our foundation to develop it near the blockchain.

How Many Nodes are there in Solana?

Perhaps now that you understand how the blockchain works, it should be easier for you to see how the validators operate the network. This network is much faster than Ethereum because it requires less verification and validation, which also means that the network is much less decentralized. Also speaking of Solana, the slashing mechanism is not implemented, mainly because of the economic units of the token. This is used to completely protect the network, in which you get rewards for betting.

What Makes Solana Special?

There are a few of Solana’s creators whose main purpose in creating it is to tackle barriers that have completely disappeared from blockchain and traditional financial instruments, such as:

  • Consensus Mechanism

Most blockchains use PoW or PoS consensus mechanisms. Solana uses a unique system for which a unique system validates blocks called the PoH (Proof-of-history) protocol from a POS consensus mechanism of computation with the blockchain.

  • Speed:

Solana has been widely adopted by manufacturers to build blockchain technology. Unlike MasterCard and Visa, it is possible to handle 65,000 transactions per second and is fully capable of handling it. Blockchain transaction speed is 15 TPS. To meet the demand on a global scale, a Solana Labs platform has been created.

The Verdict

In conclusion, all we want to say is that Solana has achieved its primary goal of making a profit with Ethereum’s hefty fees. Lower transaction fees have been borne by providing a centralized network. With network attacks, investors are seeing that this price will never be worth it. The more popular Ethereum becomes over time, the bigger and more congested the network hogs, which may be why it charges you higher fees. Likewise, the more popular Solana is, the more it will attract hackers, so you can get more leverage without even lacking decentralization.

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