Solana-based decentralized finance (DeFi) agency Unstoppable Finance has argued that Solana is more decentralized than people make it out to be. However, there’s one other aspect that believes that the blockchain platform is definitely more centralized.
In a weblog publish, the DeFi agency lays out its arguments, citing the blockchain community’s energetic validator depend, Nakamoto coefficient and help for validator {hardware}, which is usually argued to be costly, as causes for the community’s decentralization.
According to the publish, Solana’s validator depend is far larger than most different chains, excluding Ethereum. Additionally, Unstoppable Finance factors out that Solana’s Nakamoto coefficient, a metric that measures the distribution of staked tokens and decentralization, is far larger than protocols like Cosmos and Near Protocol.
Regarding the criticisms that Solana’s validator {hardware} is dear, Unstoppable Finance argues that Solana has already created a server rental program that offers with the difficulty. Despite the arguments in favor of Solana’s decentralization, some group members can not be satisfied that the platform is decentralized.
Twitter consumer Les_teezy believes that Solana’s community outages will not be the primary downside; as a substitute, the community is “too centralized,” giving only some the affect to shut down and restart the community. The Twitter consumer highlighted that with out decentralization, the community is simply the identical as any conventional system.
Related: What decentralization? Solana lender Solend approves whale pockets takeover to keep away from DeFi implosion
A month in the past, a Reddit consumer who claimed to be a software program developer referred to as Solana a rip-off, evaluating it to an SQL database applied by conventional finance. The Redditor wrote that if a central group can roll again a ledger, it’s comparable to centralized finance corporations.
In June, Solend, a lending protocol based mostly on Solana, initiated a controversial motion to take over the pockets of a whale to keep away from liquidations. The transfer acquired enormous pushback from the group. Eventually, the staff backpedaled and targeted on different options that don’t require taking on the pockets.
