Solana-based decentralized finance (DeFi) agency Unstoppable Finance has argued that Solana is extra decentralized than folks make it out to be. Nonetheless, there’s one other facet that believes that the blockchain platform is definitely extra centralized.
In a weblog publish, the DeFi agency lays out its arguments, citing the blockchain network’s active validator count, Nakamoto coefficient and support for validator hardware, which is often argued to be expensive, as reasons for the network’s decentralization.
According to the post, Solana’s validator count is much higher than most other chains, excluding Ethereum. Additionally, Unstoppable Finance points out that Solana’s Nakamoto coefficient, a metric that measures the distribution of staked tokens and decentralization, is much higher than protocols like Cosmos and Near Protocol.
Regarding the criticisms that Solana’s validator hardware is expensive, Unstoppable Finance argues that Solana has already created a server rental program that deals with the issue. Despite the arguments in favor of Solana’s decentralization, some community members cannot be convinced that the platform is decentralized.
Twitter user Les_teezy believes that Solana’s community outages aren’t the primary drawback; as an alternative, the community is “too centralized,” giving just a few the affect to close down and restart the community. The Twitter consumer highlighted that with out decentralization, the community is simply the identical as any conventional system.
Associated: 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 just like centralized finance companies.
In June, Solend, a lending protocol primarily based 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. Ultimately, the workforce backpedaled and targeted on different options that don’t require taking up the pockets.
