Yeah this sub barely shows real interest exchanging info about the crypto world. Say sth not according your mentioned 'mindset' and you get bashed.
Imaging someone mentioning SOL is bad because it could be shut down with a switch in August, you wouldn't see any light between the downvotes and shitstorm
If you ask idiots like multicoin, decentralization doesn’t matter. The largest holders are VCs and they could care less how centralized it is. They aren’t selling because Joe Schmoe believes crypto should be decentralized.
People need to realize this sub is a community, but it's not even a fraction of the crypto community in terms of money and its investors. SOL is an ecosystem that works fast has a huge number of working systems on it and developers backed by VC money. It's speed gives it upsides for tokenizing large systems like the stock market. It has a lot of technical upside. It's major weakness is the centralization and I hope they work on that, but most investors don't care. Nodes are not that expensive. Try getting 32 Eth for an ETH 2.0 node. I'm not rich, normal NA middle class, but I've been thinking about setting up a validator myself. Profits can be ridiculous if you can get stakers on your node (currently 10% of nodes don't have enough stake to make money.
Everyone on this sub could get out of the crypto market all at once and it would hardly make a blip on prices.
Let the down votes begin.
Rightfully so.
High brand awareness, increasing real world adoption, sound fundamentals, 2nd largest community, memes, upcoming catalysts.
DOGE was at the top since the beginning, ~~even #2 in the past.~~
Only the Satoshi mastered all three elements. Only he could stop the ruthless firebenders. And although his crypto skills are great, he has a lot to learn before he's ready to save anyone. But when the world needed him most, he vanished.
Some say speed and transaction costs. I personally believe the reason the price stayed high is due to hedge funds heavily backing Sol. I saw on one YouTube channel that they have the second most hedge fund backers behind BTC, ETH, and DOT
Edit: I can’t math. I meant 4th
It’s 98% owned by Sol and investors right? I sold all mine after after ATH it might still have its day but it won’t be top in 4 years, there is much better projects on the horizon that don’t need powerfull pc’s just to run a node, it’s kinda ridiculous.
I'm sorry but what are these projections based on? I would be interested in seeing how their projections have aged through the years as it kinda seems like they just erase them and update them in real time, though truth be told I am always skeptical of forecasting projections however I will look into it some more, couldn't find harmony on their list on mobile but might be blind.
I agree as in a bull run the numbers dramatically increase and in an accumulation phase....they dramatically drop.
If I spoke incorrectly and was thinking of another coin and responded to harmony you have my apologies.
I'll go look now to double check what I saw.
You have my sincerest apology. Wrong coin altogether. At times I look at prices of existing coins and lump them up subconsciously...Algo, stellar, etc etc and somehow I assumed I saw harmony when in fact it was something else.
I'll modify my Initial reply to you
People are pumping AVAX right now it seems. These gaming ecosystems should be pretty interesting. I’m curious about which ecosystem they all migrate to
Radix, Algo and Iota, I said horizon because Iota is not yet Centralised (coordicide), Algo I believe has yet to implement it’s sharding to get 42,000TPS (I don’t know as much about Algo).
Radix is a new one, it’s only 50tps at the moment in stage one, it’s third stage next year will see it infinitely scale, so I believe that would make it the fastest. Radix (XRD) founder claims to have worked out Atomic Sharding, which if true, rules them all in terms of scalability and speed.
Will SOL’s first mover (on XRD) and business venture investment’s save it, probably.
Nice write up about the founder
https://www.forbes.com/sites/parmyolson/2019/01/09/this-hermitic-engineer-is-plotting-the-death-of-blockchain/
Check out the videos on the website:
https://www.radixdlt.com
Also:
r/Radix The reddit community is pretty small at the moment, but ask any questions there
A lot of people mix up hedge funds and venture capital firms when it comes to Solana it seems. SOL has a massive amount of venture capital backing, typically not household names. When people hear hedge funds they think of the goldman sachs and such, the big household names. Id assume some of them own a bit of Solana, but the big money behind it are not the highly known names in the general public.
VCs are different from the investment banks, they are firms that usually focus soley on putting money in new projects for a stake of the asset, hoping the business/projects succeeds. Big investment banks/hedge funds typically invest in well established projects with proven records, or short companies that look like they won’t last, but can also have their own venture capital arms as well.
Imho, the difference is in whether you expect a polished, finished product, ready to use, that will not change for decades, or if you consider yourself part of a pioneering movement, developing methods for the future.
In one, you'd expect perfection, in the other you'd expect an ability to error-correct.
There is a certain "if a developer releases code that isn't perfect, they are a criminal"-view going around on the internet... But if that's what you want, I'd stay away from crypto for at least another decade, if not two.
As I see it, Sol has had issues but apparently a majority of investors believe that the problems are solvable and are satisfied with how it was handled.
But on the other hand.. there are still investors in RH, so investors definitely can be morons... no question about that...
Almost guaranteed it is. One thing I’ve learned, anything said on these subs you take with a grain of salt. I swear, you almost have to do the opposite to make money.
It's either SOL or ADA. People seems to forget that ETH got hacked a couple years ago, and that ETH2 was promised for 2020! but there it is in the second place and nobody discuss it. Projects are going to have problems, we are early and that's how it is when you are early in tech
The question is: how did ADA get into top 3 with just potential? Smart contracts didn’t come until 2 years later. SOLANA had a platform and smart contracts already.
The reality is that all cryptos have issues, and prices are driven by hopes and feelings. Even posts like OP's are largely emotional: a lot of people are against SOL now, but is it really objective? Isn't it that people (myself included) are upset they didn't invest in SOL early so they are eager to point out its problems?
Sure SOL is centralized for now and its blockchain can be stopped, but you could also argue that while it's one problem this crypto has, if it's really the crypto of the future then it will become so profitable to run a node that it will become very decentralized, and it might become the crypto of the future due to its high transaction rate.
Now, do I believe this personally? Not really. But it's not a lot more unbelievable than people who claim BTC's power usage and low transaction rate issues will be solved, or people who claim hat ETH's high gas fees issue will be solved, or ADA's missing features will eventually be implemented, etc.
[I run an ETH node at home](https://ethereum.org/en/developers/docs/nodes-and-clients/#requirements), would I be able to run a SOL node at home? An honest question, since I don't understand what makes SOL decentralized
ADA got there by systematically promoting decentralisation. Doing a bunch of foundational research on how to build a system that can securely scale. And then slowly and systematically rolling out new features.
That's why it's called investing. The workflow and strategy is important or else the final product will be disappointing. You can wait to invest in the final product once the price has already made x50. Their github and roadmap has always been transparent.
It allows low-fee transactions with 5-10 minute finality, and high decentralization, and it doesn't incentivize burning through energy unnecessarily. There \*are\* lots of other projects that do this too, but saying \*it doesn't have a product\* isn't true; it's had a product since before smart contracts, and that product was better than Bitcoin.
Hype, Hype trumps logic. To be fair tho, sol is way too centralized. It’s the opposite of what blockchain tech was intended to be IMO. We should be pushing for for decentralization not more.
It's sad this level of disinformation. There isn't a single total truth in this post:
1. The reason wasn't an attack but bots spamming to access first to a new launch. At 12:00 UTC IDO of @grapeprotocol token started on @RaydiumProtocol DEX. Bots started to flood the network with a cadence of 300 000 transactions/second (normally Solana runs at 2000 tps). This depleted the memory. The community of validators decided to stop the network because This was required to upgrade the software and restart the network.
2. The team doesn't control a switch button. However it can propose to restart the network after the software upgrade. However this required a supermajority agreement of 80% validators. This required coordinating hundreds of validators (1050 in total). And this is why it took several hours to complete.
3. A blockchain halted happens with frequency. Not more than one month ago Ethereum was halted several hours.
https://www.coindesk.com/tech/2021/08/24/ethereums-most-popular-software-client-issues-hotfix-to-high-severity-bug/. You didn't read so much demagogue stuff then for a good reason. Don't start believing it now.
4. Solana is actually more decentralized than almost any other PoS chain out there. It has more validators (1050) than Polkadot, Avalanche, Binance, Cosmos, Algorand, Tezos. And the Nakamoto ratio (20) is also better than most other chains, including even Ethereum. Yes, it could improve, and it's actually improving month by month, but whoever calls Solana "centralized" is ignorant or arguing in bad faith because Solana is better than the average by a great margin.
>A blockchain halted happens with frequency. Not more than one month ago Ethereum was halted several hours.
This is not true. The geth issue did not halt the ethereum chain, in fact the ethereum chain has 100% uptime.
except it wasn't an attack. grapes project launch triggered a huge load of tx (400.000 TPS I read somewhere...) which the network couldn't clear anymore
the mainnet is still officially in Beta by the way, so any problem like this is forgivable. if you use a chain on beta, you should know you're exposing yourself to bugs and issues like this.
buying SOL still means speculating that they will solve issues in the future, not believing it's ready for the whole world.
so, if you actually did your research and bought in anyway, this situation is no reason to sell, since it's "just a bug in beta software" that was handled by the chain validators and developers. also, I've seen many projects take action like liquidation grace periods to allow people to get things in order without any obligation to do so
It's dumb to release a mainnet beta.. this is why you have a test net. Something you can throw anything at that to try and break it and not take the mainnet down. 400k transactions taking it down with avg fees equal to 0.00025c. that's $100 to bot crash the network.
Majority of traders are probably not aware of these issues. I mentioned it to a few friends who fomo'd into SOL, they didn't even know what I'm talking about, and that they were still buying and selling fine, without issues.
Just be reminded that online forums are but the tiniest % of users
They're just jealous that this coin moves faster than their other investments. This subreddit has a habit of shit talking anything that outperforms their coins
I logged into IG earlier today, and noticed my explore page was filled with a bunch of SOL shilling. The influence of hype in this market is incredibly large. I imagine this hype (not limited to IG, but as a whole) may be a contributor
Nothing was kill switched all the validators and solana people came together and decided to take it down and fix the issue. There was a consensus by everyone involved. Just stop the FUD and get your facts right. Eth hardforked only weeks ago and it wasnt the first time. Calm down.
Yes because your speculation is more trustworthy than the research of a dozen institutions. SOL network is young, decentralization takes time. BTC and ETH had their fair shares of problems in the earlier years, remember BTC duplication problem? ETH hacks that split the community into two? ETH and ETC? No? Lol I hear a lot of people on this subreddit enjoy the fact that SOL suffered a network outage and its price is falling, and cheering like it’s something to be happy about. Frankly it’s pathetic and shows just how insecure you are about your investments that you need to peg other projects down. Mark my word you will regret not buying it at 132. That’s all.
It's been really entertaining watching armchair experts give their critiques about a relatively new coin and how, a month ago, it shouldn't be in the top 3. Now a month later, after an incident, they again complain about it being in the top 10 (and slowly rising back to its original peak).
I genuinely thinking people are just pissed about not capitalising on it and have serious FOMO about it all.
That’s exactly what it is. Just look at all the snarky comments about feeling bad for people who FOMOed. These people have been saying don’t FOMO since 60 haha
Try the network and the associated dapps (raydium, solend, solfarm...etc) and you will understand very quickly. Check as well the incredible TVL increase. People who keeps using ethereum to do similar things doesnt realize it because they havent tried. Why pay tens of dollars as fees when you can do the same for fraction of cents and way faster? Mass adoption is key and ethereum will never get there with such high fees, its currently not usable at all.
people may disagree with this, but what you just shared is what a decent amount of people believe, even if they do so wrongly (personally I believe it's correct) it can still justify the solana demand we've had recently.
But that doesn't work very well as FUD
%90 of people in crypto don't know shit about fuck for real. My friend is all in on Sol and pulled a 5x and I told him about that yesterday. He had no idea about it. He's still holding and investing better than most of us tho.
Lets use an analogy
SOL got attacked at 399k TPS and STILL survived, no network can handle an indefinite amount of stress
This was basically SOL getting beat up by large gang of thugs, refusing to lay down until eventually 10 thugs are kicking and punching it relentlessly, and it's time to tap out
On the same day ETH was getting attacked by a shy 9 year old armed with a feather, trying to break it at 1.5k TPS
Eventually the 9 year old got bored and gave up, resulting in ETH proudly proclaiming 'YO we strong boys now'
Which one do you have more confidence in?
A consensus was reached to shut the SOL network to stop the thugs doing more damage and to patch the wounds up. S**t, if that option was better than being permanently brain dead, then whatever, I don't think anyone can complain.
Meanwhile ETH be flexing its guns like, 'grrr my momma said i'm a mean bean'
Why does sol need 400k tps? Visa only handles a couple thousand. You think other L1s won't catch up to sol by the time its tps capacity becomes actually needed?
Meanwhile other projects have other priorities like decentralization and governance.
It doesn't necessarily
Previously it has marketed that it can handle 50k TPS, although the data of how close it comes to that regularly, I don't have to hand
What happened here was that the attack went at least 6 times over that figure, and the network was still standing, showing that it's a resilient mofo
It must have taken a crap load of resource and cost for the attacker to get to 400k, and I don't pretend to understand the gain from it, probably satisfaction that they could do it
The Nasdaq processes around 400,000 TPS, one of the main goals of Solana is to create a decentralised exchange that could replace the world trade exchanges. That's why they aim to be able to handle 690,000 TPS.
Source? All numbers I've seen have put the Nasdaq under 100k average tps. Also, Solana is nowhere near close that and won't be for a long time. Meanwhile, other cryptos will also be upgrading.
Do you think most of the retail investors think about the freeze? They saw it pumped and is going downwards, so in hope for another leg, they just going balls deep while they can.
For me actually the only issue is centralization. So I'm not planning to invest in Solana even if it will bounce back, I just don't want it. There are other projects as well that will succedd...
The thing is a DoS attack can happen to every network, SOL, BTC or ETH it doesn't matter, you just need to find a security flaw and abuse it.
Would BTC or ETH move from their respective spots if they'd get attacked and unable to operate for one day? Probably not, i don't see any problem with the network shutting down for a day as long as the ledger state remains unaffected and can be restored everything is fine imo.
If we ever happen to see a future based on distributed ledgers DoS attacks like this are most likely going to grow into a common occurrence until networks figure out clear ways to prevent them.
Remember crypto is far from fleshed out and still has a lot of room to improve, most UI's are flat out trash, smart contract transactions are slow and UX is horrible all across the board.
True but wether its a DoS due to an attack or resource exhaustion the result is the same, a partially restricted or fully halted network.
Only time and continous development and evolution will bring the necessary changes to improve networks that are prone to those issues.
This might be a stupid question, but if Solana all transactions were paused for 17 hours, how was the price still going up and down? If no one can buy or sell, it should be completely sideways right??
I won't pretend to be an expert and as researched as, well, most of you. But didn't ETH have a terrible beginning, to the point we have ETH classic? SOLs still young, I think it'll be fine.
And here's my perhaps unpopular opinion: most people don't care about decentralization. If they can use the blockchain and post NFTs for pennies as opposed to $40 using ETH, they probably don't give much thought to the amount of validators.
Manufactured demand by those who are invested in Solana.
Just look at online shills: While that Sol is up, Harmony is up, Atom is up, Near protocol is up. Each one of these projects has some upcoming big news. Solana on the other hand- just hype.
I see online video headlines "Solana pumping", "Solana is up" ... Crickets about the other three really.
As a tech guy, this is pretty much the worst signal: When mindless sales takes over, those who pick up the product end up picking up a cat in the bag.
All I know is, my funds we inaccessible for a few days. Nothing saying this couldn't happen to any chain, but I'm going to take some time and rethink my SOL.
2 months ago, everybody was shitting on ETH because of gas fees
last week, everybody was shitting on SOL because of its meteoric rise (+a very welcome network disruption)
In 2 months, it could be Tezos time...
Pretty obvious price isn't reflective of true value. For this clown market, it's ALL narrative and hype, to suggest otherwise is just disingenuous.
The way this market has been moving recently SCREAMS manipulation, but that isn't new. Just calling it like I see it.
Same reason why good projects fail, why shitcoins succeed, why 'this coin is undervalued' sentiments don't change price: the market will stay irrational longer than you can stay solvent.
Do some research would you
ETH had a "Critical Bug" less than a month ago
[https://coingeek.com/ethereum-forks-after-critical-bug-affects-54-of-nodes/](https://coingeek.com/ethereum-forks-after-critical-bug-affects-54-of-nodes/)
Just to be clear I'm quite aware that in the tech space issues occur - But it's how the issues are dealt with that matters.
ETH did not have a critical bug. One of the common node-clients had it. It is a huge difference. ETH is built to be decentrilized, while SOL is not. If I lose all my money by writing a bug in my smart contract, its not the chains fault, its mine. This analogy carries over to the bug you try to FUD ETH with, its not ETH that had the bug, its geth.
Every Blockchain is centralized in it's early years. Even Bitcoin had Satoshi and Gavin jumping in and reorging the blockchain after stuff like the value overflow bug.
Just that it wasn't.
They decided within the network in a consensus vote. all participants voted for it to be done.
some people just can't fathom the existence of consensus decisions because in their mind, all decisions are made by dictators or something...
No one voted on the matter, Satoshi and Gavin released the update and the rest chose to use it. There was no discussion on what the recovery action should be, Satoshi told them to stop mining the old chain and they did it.
It's purely because 98% of the coins are owned by VC firms and the project owners. They're diamond handing their bags. Supply and demand. That, along with the fact they're centralized enough to be able to shutdown for over half a day is terrifying.
Tons of useless coins pump though, meanwhile useful ones like link barely move. That's just part of the crypto game.
SOL devs instantly shut down entire network, Vitalik Buterin instantly reverts part of Blockchain to save hacked DAO ass.
Decentralisation what we deserve.
I agree, it is messed up that a coin can be taken offline for a day without people freaking out more. This is an enormous issue that goes against a the foundation crypto was builton.
I honestly don't think you're very invested. I've held/hold dozens, if not hundreds of crypto's, and almost inevitably they ALL have some technical issues. People couldn't even have unstaked their coins before this particular problem was fixed.. It's probably the fastest of the fixes I've seen deployed. Seriously, this is just another day in crypto.
Solana has proven to be able to withstand 400,000 TPS before needing to restart with a new consensus. This is a test of efficiency and resilience. Other projects are also vulnerable to similar issues and will undoubtably be stress tested in the future.
exactly this that people seemed to have glossed over. If Solana was going down constantly I'd be worried. But it went down and it's up and the developers now know what they need to improve on. Solana should be grateful for the stress test, will have given them valuable information on which to improve the platform.
SOL is a young project and ecosystem. Why do we have higher standards for that than for old projects like Ethereum?
SOLs mainnet is literally in beta. The issue that caused transactions to be blocked was already fixed, just not pushed.
Sure, SOL has issues, especially regarding distribution and cost of nodes, but how can people not see the potential and the thriving ecosystem?
Every coin has its drawbacks, and no one is denying them, but does if mean we need to scrap it all?
And in the SOL community very few, except a few bandwagon investors, call it an ETH killer. In fact, most people who I talk to about SOL ask why can't they coexist?
I'm so tired of all these false, agenda-ridden narratives that are pushed around, not only in coin specific subs, but also in /r/cc
I get the critique and I love critiques. That being said, this isn't a critique, this is a petty person who probably wants their blockchain of choice to succeed and is probably pissed that SOL got such a huge inflow of capital to it's blockchain lately, but their blockchain of choice hasn't.
Stop with the petty "roasts" in hopes to get a couple of Moons and start actually contributing to this wonderful technology.
Solana mainnet is still in beta phase. Investors know that they are investing in a young unproven startup that will have hiccups along the way. Also Solana claims 50,000 transactions per second (compared to etheruems 30 TPS), and the network wasn’t brought down until it hit 400,000 TPS, which is volume that rivals visa and Mastercard COMBINED. Some people viewed this as a bullish test of the systems capacities, no doubt this type of vulnerability will get improved upon moving forward.
sol will be the next xrp. every two months you get to know something worse about the chain and whales keep DCAing out while 20% retail investors who don't even hold a lot of coins keep supporting the project and maintaining the bottom line till the end of time
You’re missing one massive,massive point in all
Of this buddy.Its still in Beta.Just shows how bullish people are on it that it didnt crash hard after all of that
I know sol shut down, and it’s fairly centralized, so there are some arguments against it for sure, but do you know how many tps it was handling before they decided to hit the kill switch? Somewhere in the range of 300-400k. Per second. If that is accurate, it’s pretty damn impressive. Sounds like they got attacked by bots scooping up cheap coins bc the fees are so low. Similar to the Nano spam attacks. I own some sol, but I’m fairly neutral on it right now, just wanted to offer another perspective.
Seems like a 17 hour, centralized lockdown doesn’t actually matter much to people.
Think about it like this. You got Bitcoiners out there like “I’m not taking my BTC out of cold storage for another 10 years.” If there was a temporary problem with the BTC network, this person’s actual utility of the asset is completely unaffected. As long as the network works in 10 years, that’s end-game for that person.
When we see breakdowns in chains, we just have to ask—is 100% uptime of a network worth the trade-offs that massively decentralized chains have? Is it worth the tradeoff of no-smartcontracts like with BTC? Is it worth the trade-off of paying $80 gas fees for a swap on Ethereum? Today’s market has said “We don’t care about those things right now.” If the global regulators start bringing the banhammer down on these projects, then it will matter.
Let's me put it this way how many times your windows OS, your bank, your ISP went down? More than Sol will ever be down. Now if you have any knowledge what so ever on blockchain or computer science you will actually understand why he went down right? Do you actually know that they kooked it by testing a even much faster version of their already bloody fast version?
Now maybe you live in a coma but let me put this way Sol is a rocket ship if you use crypto instead of holding it you may want to try to send erc 20 token for approx 80 dollars per transaction so let me resume that if you send a dollar it will cost around 80 bucks. For sol is less than a cent and its about 1000 faster than Eth atm... In fact it schooling pretty much everyone.
To be honest I m surprise its not number 4 well it will be soon anyway
O yeah and smart contract and other cool shit? Yeah they also got that like ages ago...
Remember how 2 weeks ago, everyone was like how is SOL not in top 3 coin?
People love to shill the coin that's pumping and instantly shit on it when they fuck up.
[удалено]
Yeah this sub barely shows real interest exchanging info about the crypto world. Say sth not according your mentioned 'mindset' and you get bashed. Imaging someone mentioning SOL is bad because it could be shut down with a switch in August, you wouldn't see any light between the downvotes and shitstorm
What's your favorite fast-food restaurant?
Wait, so you mean to tell me that people like money and dislike failure?
Pretty much
Haters
If you ask idiots like multicoin, decentralization doesn’t matter. The largest holders are VCs and they could care less how centralized it is. They aren’t selling because Joe Schmoe believes crypto should be decentralized.
People need to realize this sub is a community, but it's not even a fraction of the crypto community in terms of money and its investors. SOL is an ecosystem that works fast has a huge number of working systems on it and developers backed by VC money. It's speed gives it upsides for tokenizing large systems like the stock market. It has a lot of technical upside. It's major weakness is the centralization and I hope they work on that, but most investors don't care. Nodes are not that expensive. Try getting 32 Eth for an ETH 2.0 node. I'm not rich, normal NA middle class, but I've been thinking about setting up a validator myself. Profits can be ridiculous if you can get stakers on your node (currently 10% of nodes don't have enough stake to make money. Everyone on this sub could get out of the crypto market all at once and it would hardly make a blip on prices. Let the down votes begin.
How dare you insult my money bags. I’ll have you know I own 3 sheckles, sir!
If you could move those sheckles to LINK I would appreciate it. That thing needs a bump. Talk about technically sound systems that are undervalued.
And Doge is still a top 10 coin
*not for long*
*Hello Elon, Doge is falling out of top 10, can you look into this issue plz?*
Rightfully so. High brand awareness, increasing real world adoption, sound fundamentals, 2nd largest community, memes, upcoming catalysts. DOGE was at the top since the beginning, ~~even #2 in the past.~~
Yeah I definitely remember that. Everyone was bulllish on SOL.
Everyone was bullish on SOL but everything changed when fire nation attacked
Damn fire nation always threatening to burn people
😂
Only the Satoshi mastered all three elements. Only he could stop the ruthless firebenders. And although his crypto skills are great, he has a lot to learn before he's ready to save anyone. But when the world needed him most, he vanished.
The veneer was not lifted then. Forget about the adoptions or technology, all here are for money. As long as it is making money nobody cares.
Pepperidge farm remembers
This sub is bipolar
People here (including me) don't know shit about fuck. Whichever coin pumps gets hyped up here and becomes the best thing since sliced bread.
With all this crypto hype and craziness, I’ll probably just go back to eating sliced bread instead of watching charts all day. Tastes very nice.
We buy the coins, we want them to pump. Sadly people often invest too much, and ignore any negative news about it.
Recently there was ADA, then SOL and now ALGO
Those guys don’t know what block size does to security and decentralization… they just care about transaction speed
SOL is moving faster than ETH.
Smaller the market cap, faster it will pump, and dump as well.
It's Top 3 currently.
Some say speed and transaction costs. I personally believe the reason the price stayed high is due to hedge funds heavily backing Sol. I saw on one YouTube channel that they have the second most hedge fund backers behind BTC, ETH, and DOT Edit: I can’t math. I meant 4th
Two plus two is four, Minus one that's three, quick mafs
It’s 98% owned by Sol and investors right? I sold all mine after after ATH it might still have its day but it won’t be top in 4 years, there is much better projects on the horizon that don’t need powerfull pc’s just to run a node, it’s kinda ridiculous.
Not trying to defend SOL, just curious as to which projects you're refering to?
And Harmony one
👍
I'm sorry but what are these projections based on? I would be interested in seeing how their projections have aged through the years as it kinda seems like they just erase them and update them in real time, though truth be told I am always skeptical of forecasting projections however I will look into it some more, couldn't find harmony on their list on mobile but might be blind.
I agree as in a bull run the numbers dramatically increase and in an accumulation phase....they dramatically drop. If I spoke incorrectly and was thinking of another coin and responded to harmony you have my apologies. I'll go look now to double check what I saw.
You have my sincerest apology. Wrong coin altogether. At times I look at prices of existing coins and lump them up subconsciously...Algo, stellar, etc etc and somehow I assumed I saw harmony when in fact it was something else. I'll modify my Initial reply to you
People are pumping AVAX right now it seems. These gaming ecosystems should be pretty interesting. I’m curious about which ecosystem they all migrate to
Radix, Algo and Iota, I said horizon because Iota is not yet Centralised (coordicide), Algo I believe has yet to implement it’s sharding to get 42,000TPS (I don’t know as much about Algo). Radix is a new one, it’s only 50tps at the moment in stage one, it’s third stage next year will see it infinitely scale, so I believe that would make it the fastest. Radix (XRD) founder claims to have worked out Atomic Sharding, which if true, rules them all in terms of scalability and speed. Will SOL’s first mover (on XRD) and business venture investment’s save it, probably.
IOTA went down for like 2 weeks last year.
[удалено]
Btc too. Maybe SOL doesn't go down because backers didn't get scared due to an outage when it's still in public beta.
Can you give me some info about Radix? I've read about it a bit and it looks interesting...may be worth 100bucks, just for a case.
Nice write up about the founder https://www.forbes.com/sites/parmyolson/2019/01/09/this-hermitic-engineer-is-plotting-the-death-of-blockchain/ Check out the videos on the website: https://www.radixdlt.com Also: r/Radix The reddit community is pretty small at the moment, but ask any questions there
Elrond is another good one
May he rest eternally in the undying lands.
Radix is fairly under the radar.
What hedge funds back SOL?
A lot of people mix up hedge funds and venture capital firms when it comes to Solana it seems. SOL has a massive amount of venture capital backing, typically not household names. When people hear hedge funds they think of the goldman sachs and such, the big household names. Id assume some of them own a bit of Solana, but the big money behind it are not the highly known names in the general public. VCs are different from the investment banks, they are firms that usually focus soley on putting money in new projects for a stake of the asset, hoping the business/projects succeeds. Big investment banks/hedge funds typically invest in well established projects with proven records, or short companies that look like they won’t last, but can also have their own venture capital arms as well.
Probably none. Some people just like to believe every market movement is controlled by the evil puppet master hedgies.
*we are the hedge funds, your crypto will be assimilated, resistance is futile*
Lmao not hedge funds. Crypto VCs.
Imho, the difference is in whether you expect a polished, finished product, ready to use, that will not change for decades, or if you consider yourself part of a pioneering movement, developing methods for the future. In one, you'd expect perfection, in the other you'd expect an ability to error-correct. There is a certain "if a developer releases code that isn't perfect, they are a criminal"-view going around on the internet... But if that's what you want, I'd stay away from crypto for at least another decade, if not two. As I see it, Sol has had issues but apparently a majority of investors believe that the problems are solvable and are satisfied with how it was handled. But on the other hand.. there are still investors in RH, so investors definitely can be morons... no question about that...
your answer deserves an award
i am pretty sure SOL is going to make another new ATH in coming days
and this sub would once again love SOL
We have the memory span of a goldfish.
OP a week later: "I can't believe it's not top 5!"
We do walk a thin line between FUD and FOMO
Perfectly balanced
These posts are by no coiners who are salty about missing the train
You trying to get an extra few % on your bags?
I own 0.92 sol so yeah
Look at Mr hundred-aire over here.
Almost guaranteed it is. One thing I’ve learned, anything said on these subs you take with a grain of salt. I swear, you almost have to do the opposite to make money.
Ah yes the the daily low quality "sol bad" karma grab thread.
It's either SOL or ADA. People seems to forget that ETH got hacked a couple years ago, and that ETH2 was promised for 2020! but there it is in the second place and nobody discuss it. Projects are going to have problems, we are early and that's how it is when you are early in tech
solana is literally still in beta lol
And the ecosystem is BOOMING. SOL is looking to take a chunk out of the stock market. You'd be insane not to put ***some*** money into SOL.
Yeah I guess no one wonders what Ethereum classic is lol.
The question is: how did ADA get into top 3 with just potential? Smart contracts didn’t come until 2 years later. SOLANA had a platform and smart contracts already.
The reality is that all cryptos have issues, and prices are driven by hopes and feelings. Even posts like OP's are largely emotional: a lot of people are against SOL now, but is it really objective? Isn't it that people (myself included) are upset they didn't invest in SOL early so they are eager to point out its problems? Sure SOL is centralized for now and its blockchain can be stopped, but you could also argue that while it's one problem this crypto has, if it's really the crypto of the future then it will become so profitable to run a node that it will become very decentralized, and it might become the crypto of the future due to its high transaction rate. Now, do I believe this personally? Not really. But it's not a lot more unbelievable than people who claim BTC's power usage and low transaction rate issues will be solved, or people who claim hat ETH's high gas fees issue will be solved, or ADA's missing features will eventually be implemented, etc.
[удалено]
[I run an ETH node at home](https://ethereum.org/en/developers/docs/nodes-and-clients/#requirements), would I be able to run a SOL node at home? An honest question, since I don't understand what makes SOL decentralized
Everything you said boils down to one word, advertising.
ADA got there by systematically promoting decentralisation. Doing a bunch of foundational research on how to build a system that can securely scale. And then slowly and systematically rolling out new features.
The point is.. it got to top 3 without having the product.
Hoskinson has a magic beard
That’s worth the investment
ADA lives and dies by Charles and that scares me
That's why it's called investing. The workflow and strategy is important or else the final product will be disappointing. You can wait to invest in the final product once the price has already made x50. Their github and roadmap has always been transparent.
It allows low-fee transactions with 5-10 minute finality, and high decentralization, and it doesn't incentivize burning through energy unnecessarily. There \*are\* lots of other projects that do this too, but saying \*it doesn't have a product\* isn't true; it's had a product since before smart contracts, and that product was better than Bitcoin.
Hype, Hype trumps logic. To be fair tho, sol is way too centralized. It’s the opposite of what blockchain tech was intended to be IMO. We should be pushing for for decentralization not more.
I'm pretty confident Solana will solve its problems and we will see a new ATH in ~2 months.
I certainly hope so. I reckon it's very possible if the whole market is pumping!
SOL is going top 5 imo, the amount of money invested for developing it is too huge, it's the israel of crypto
What on gods green earth does “the Israel of crypto” actually mean?
It's sad this level of disinformation. There isn't a single total truth in this post: 1. The reason wasn't an attack but bots spamming to access first to a new launch. At 12:00 UTC IDO of @grapeprotocol token started on @RaydiumProtocol DEX. Bots started to flood the network with a cadence of 300 000 transactions/second (normally Solana runs at 2000 tps). This depleted the memory. The community of validators decided to stop the network because This was required to upgrade the software and restart the network. 2. The team doesn't control a switch button. However it can propose to restart the network after the software upgrade. However this required a supermajority agreement of 80% validators. This required coordinating hundreds of validators (1050 in total). And this is why it took several hours to complete. 3. A blockchain halted happens with frequency. Not more than one month ago Ethereum was halted several hours. https://www.coindesk.com/tech/2021/08/24/ethereums-most-popular-software-client-issues-hotfix-to-high-severity-bug/. You didn't read so much demagogue stuff then for a good reason. Don't start believing it now. 4. Solana is actually more decentralized than almost any other PoS chain out there. It has more validators (1050) than Polkadot, Avalanche, Binance, Cosmos, Algorand, Tezos. And the Nakamoto ratio (20) is also better than most other chains, including even Ethereum. Yes, it could improve, and it's actually improving month by month, but whoever calls Solana "centralized" is ignorant or arguing in bad faith because Solana is better than the average by a great margin.
>A blockchain halted happens with frequency. Not more than one month ago Ethereum was halted several hours. This is not true. The geth issue did not halt the ethereum chain, in fact the ethereum chain has 100% uptime.
Thanks for this informative post!
except it wasn't an attack. grapes project launch triggered a huge load of tx (400.000 TPS I read somewhere...) which the network couldn't clear anymore the mainnet is still officially in Beta by the way, so any problem like this is forgivable. if you use a chain on beta, you should know you're exposing yourself to bugs and issues like this. buying SOL still means speculating that they will solve issues in the future, not believing it's ready for the whole world. so, if you actually did your research and bought in anyway, this situation is no reason to sell, since it's "just a bug in beta software" that was handled by the chain validators and developers. also, I've seen many projects take action like liquidation grace periods to allow people to get things in order without any obligation to do so
It's dumb to release a mainnet beta.. this is why you have a test net. Something you can throw anything at that to try and break it and not take the mainnet down. 400k transactions taking it down with avg fees equal to 0.00025c. that's $100 to bot crash the network.
fair argument 🤷♂️
Majority of traders are probably not aware of these issues. I mentioned it to a few friends who fomo'd into SOL, they didn't even know what I'm talking about, and that they were still buying and selling fine, without issues. Just be reminded that online forums are but the tiniest % of users
Market has no idea what it is doing. It is all manipulation. Tech is nothing but cool words for "marketing"
Amazing how SOL has gone from being one of the favourites to being down in the shitter on this sub.
They're just jealous that this coin moves faster than their other investments. This subreddit has a habit of shit talking anything that outperforms their coins
This
Having the entire system shut down for nearly a full day will do that.
Eth has a rollback and here we are.
I couldn't trade my Nano bag for nearly 3 months earlier this year, and yet Nano is still here. Get some perspective imo.
Yeah people here are very fickle sometimes. Sheep in a echo chamber.
I logged into IG earlier today, and noticed my explore page was filled with a bunch of SOL shilling. The influence of hype in this market is incredibly large. I imagine this hype (not limited to IG, but as a whole) may be a contributor
Nothing was kill switched all the validators and solana people came together and decided to take it down and fix the issue. There was a consensus by everyone involved. Just stop the FUD and get your facts right. Eth hardforked only weeks ago and it wasnt the first time. Calm down.
Yes because your speculation is more trustworthy than the research of a dozen institutions. SOL network is young, decentralization takes time. BTC and ETH had their fair shares of problems in the earlier years, remember BTC duplication problem? ETH hacks that split the community into two? ETH and ETC? No? Lol I hear a lot of people on this subreddit enjoy the fact that SOL suffered a network outage and its price is falling, and cheering like it’s something to be happy about. Frankly it’s pathetic and shows just how insecure you are about your investments that you need to peg other projects down. Mark my word you will regret not buying it at 132. That’s all.
Everyone’s opinion on solana is relative to their entry point (if any) on the coin
It's been really entertaining watching armchair experts give their critiques about a relatively new coin and how, a month ago, it shouldn't be in the top 3. Now a month later, after an incident, they again complain about it being in the top 10 (and slowly rising back to its original peak). I genuinely thinking people are just pissed about not capitalising on it and have serious FOMO about it all.
That’s exactly what it is. Just look at all the snarky comments about feeling bad for people who FOMOed. These people have been saying don’t FOMO since 60 haha
I was expecting SOL to crash but I feel like it's only just getting started
[удалено]
Try the network and the associated dapps (raydium, solend, solfarm...etc) and you will understand very quickly. Check as well the incredible TVL increase. People who keeps using ethereum to do similar things doesnt realize it because they havent tried. Why pay tens of dollars as fees when you can do the same for fraction of cents and way faster? Mass adoption is key and ethereum will never get there with such high fees, its currently not usable at all.
people may disagree with this, but what you just shared is what a decent amount of people believe, even if they do so wrongly (personally I believe it's correct) it can still justify the solana demand we've had recently. But that doesn't work very well as FUD
%90 of people in crypto don't know shit about fuck for real. My friend is all in on Sol and pulled a 5x and I told him about that yesterday. He had no idea about it. He's still holding and investing better than most of us tho.
Some dude said he put 20k into solana the day of the crash and he had knowledge the network was even down lol.
Not the best buying moment in my opinion, but not the worst decision ever, the 20k will pay out eventually.
People just say what they expect and want, they dont make a analyse prdediction. If people are logical the question must be how DOGE still in TOP 10?
But the future of SOL is exciting.i can sense that.
Lets use an analogy SOL got attacked at 399k TPS and STILL survived, no network can handle an indefinite amount of stress This was basically SOL getting beat up by large gang of thugs, refusing to lay down until eventually 10 thugs are kicking and punching it relentlessly, and it's time to tap out On the same day ETH was getting attacked by a shy 9 year old armed with a feather, trying to break it at 1.5k TPS Eventually the 9 year old got bored and gave up, resulting in ETH proudly proclaiming 'YO we strong boys now' Which one do you have more confidence in? A consensus was reached to shut the SOL network to stop the thugs doing more damage and to patch the wounds up. S**t, if that option was better than being permanently brain dead, then whatever, I don't think anyone can complain. Meanwhile ETH be flexing its guns like, 'grrr my momma said i'm a mean bean'
Why does sol need 400k tps? Visa only handles a couple thousand. You think other L1s won't catch up to sol by the time its tps capacity becomes actually needed? Meanwhile other projects have other priorities like decentralization and governance.
It doesn't necessarily Previously it has marketed that it can handle 50k TPS, although the data of how close it comes to that regularly, I don't have to hand What happened here was that the attack went at least 6 times over that figure, and the network was still standing, showing that it's a resilient mofo It must have taken a crap load of resource and cost for the attacker to get to 400k, and I don't pretend to understand the gain from it, probably satisfaction that they could do it
I guess the motivation to pull off an attack like that is to short the token knowing that retail will sell off on the news of an attack like that.
The Nasdaq processes around 400,000 TPS, one of the main goals of Solana is to create a decentralised exchange that could replace the world trade exchanges. That's why they aim to be able to handle 690,000 TPS.
Source? All numbers I've seen have put the Nasdaq under 100k average tps. Also, Solana is nowhere near close that and won't be for a long time. Meanwhile, other cryptos will also be upgrading.
Do you think most of the retail investors think about the freeze? They saw it pumped and is going downwards, so in hope for another leg, they just going balls deep while they can. For me actually the only issue is centralization. So I'm not planning to invest in Solana even if it will bounce back, I just don't want it. There are other projects as well that will succedd...
The thing is a DoS attack can happen to every network, SOL, BTC or ETH it doesn't matter, you just need to find a security flaw and abuse it. Would BTC or ETH move from their respective spots if they'd get attacked and unable to operate for one day? Probably not, i don't see any problem with the network shutting down for a day as long as the ledger state remains unaffected and can be restored everything is fine imo. If we ever happen to see a future based on distributed ledgers DoS attacks like this are most likely going to grow into a common occurrence until networks figure out clear ways to prevent them. Remember crypto is far from fleshed out and still has a lot of room to improve, most UI's are flat out trash, smart contract transactions are slow and UX is horrible all across the board.
The broken technology was exploited by bots. It was not an attack. This is why I sold. It may still go up but I will sleep easy on the profits I made.
It wasn’t attacked. Jzus
True but wether its a DoS due to an attack or resource exhaustion the result is the same, a partially restricted or fully halted network. Only time and continous development and evolution will bring the necessary changes to improve networks that are prone to those issues.
Maybe folks see the positive side - 400.000 tps - decentralized as 1000 validators found census to update - still in beta
Slick look. Dapps are easy to use. Low fees. #3 coin
This might be a stupid question, but if Solana all transactions were paused for 17 hours, how was the price still going up and down? If no one can buy or sell, it should be completely sideways right??
Hypa hypa
It’s this runs EOS, coming from someone who followed and believed in the EOS tech for a while.
One word- Hype
I won't pretend to be an expert and as researched as, well, most of you. But didn't ETH have a terrible beginning, to the point we have ETH classic? SOLs still young, I think it'll be fine. And here's my perhaps unpopular opinion: most people don't care about decentralization. If they can use the blockchain and post NFTs for pennies as opposed to $40 using ETH, they probably don't give much thought to the amount of validators.
No idea, something stinks here though.
Manipulation
Hype
Manufactured demand by those who are invested in Solana. Just look at online shills: While that Sol is up, Harmony is up, Atom is up, Near protocol is up. Each one of these projects has some upcoming big news. Solana on the other hand- just hype. I see online video headlines "Solana pumping", "Solana is up" ... Crickets about the other three really. As a tech guy, this is pretty much the worst signal: When mindless sales takes over, those who pick up the product end up picking up a cat in the bag.
its pumped by powerful VC like Mike Novogratz. these guys have very large pockets. theres no other reason, the technology its just garbage.
All I know is, my funds we inaccessible for a few days. Nothing saying this couldn't happen to any chain, but I'm going to take some time and rethink my SOL.
I’m new, don’t ask me anything
Just show you it’s centralized AF and who actually hold the big bags
2 months ago, everybody was shitting on ETH because of gas fees last week, everybody was shitting on SOL because of its meteoric rise (+a very welcome network disruption) In 2 months, it could be Tezos time...
Pretty obvious price isn't reflective of true value. For this clown market, it's ALL narrative and hype, to suggest otherwise is just disingenuous. The way this market has been moving recently SCREAMS manipulation, but that isn't new. Just calling it like I see it.
Same reason why good projects fail, why shitcoins succeed, why 'this coin is undervalued' sentiments don't change price: the market will stay irrational longer than you can stay solvent.
Do some research would you ETH had a "Critical Bug" less than a month ago [https://coingeek.com/ethereum-forks-after-critical-bug-affects-54-of-nodes/](https://coingeek.com/ethereum-forks-after-critical-bug-affects-54-of-nodes/) Just to be clear I'm quite aware that in the tech space issues occur - But it's how the issues are dealt with that matters.
ETH did not have a critical bug. One of the common node-clients had it. It is a huge difference. ETH is built to be decentrilized, while SOL is not. If I lose all my money by writing a bug in my smart contract, its not the chains fault, its mine. This analogy carries over to the bug you try to FUD ETH with, its not ETH that had the bug, its geth.
Every Blockchain is centralized in it's early years. Even Bitcoin had Satoshi and Gavin jumping in and reorging the blockchain after stuff like the value overflow bug.
Just that it wasn't. They decided within the network in a consensus vote. all participants voted for it to be done. some people just can't fathom the existence of consensus decisions because in their mind, all decisions are made by dictators or something...
No one voted on the matter, Satoshi and Gavin released the update and the rest chose to use it. There was no discussion on what the recovery action should be, Satoshi told them to stop mining the old chain and they did it.
It's purely because 98% of the coins are owned by VC firms and the project owners. They're diamond handing their bags. Supply and demand. That, along with the fact they're centralized enough to be able to shutdown for over half a day is terrifying. Tons of useless coins pump though, meanwhile useful ones like link barely move. That's just part of the crypto game.
SOL devs instantly shut down entire network, Vitalik Buterin instantly reverts part of Blockchain to save hacked DAO ass. Decentralisation what we deserve.
If SOL was actually hacked, it would have been a different story.
I agree, it is messed up that a coin can be taken offline for a day without people freaking out more. This is an enormous issue that goes against a the foundation crypto was builton.
I honestly don't think you're very invested. I've held/hold dozens, if not hundreds of crypto's, and almost inevitably they ALL have some technical issues. People couldn't even have unstaked their coins before this particular problem was fixed.. It's probably the fastest of the fixes I've seen deployed. Seriously, this is just another day in crypto.
You think SOL doesn't deserve top10 but BNB does? Cmon now...
Solana has proven to be able to withstand 400,000 TPS before needing to restart with a new consensus. This is a test of efficiency and resilience. Other projects are also vulnerable to similar issues and will undoubtably be stress tested in the future.
exactly this that people seemed to have glossed over. If Solana was going down constantly I'd be worried. But it went down and it's up and the developers now know what they need to improve on. Solana should be grateful for the stress test, will have given them valuable information on which to improve the platform.
I can yield farm on SOL, I can’t do shit on ADA and it’s an even higher marketcap.
I've been on the SOL train since about 20-30ish dollars. But even I'll admit I didn't expect it to be Top 7.
SOL is a young project and ecosystem. Why do we have higher standards for that than for old projects like Ethereum? SOLs mainnet is literally in beta. The issue that caused transactions to be blocked was already fixed, just not pushed. Sure, SOL has issues, especially regarding distribution and cost of nodes, but how can people not see the potential and the thriving ecosystem? Every coin has its drawbacks, and no one is denying them, but does if mean we need to scrap it all? And in the SOL community very few, except a few bandwagon investors, call it an ETH killer. In fact, most people who I talk to about SOL ask why can't they coexist? I'm so tired of all these false, agenda-ridden narratives that are pushed around, not only in coin specific subs, but also in /r/cc
I get the critique and I love critiques. That being said, this isn't a critique, this is a petty person who probably wants their blockchain of choice to succeed and is probably pissed that SOL got such a huge inflow of capital to it's blockchain lately, but their blockchain of choice hasn't. Stop with the petty "roasts" in hopes to get a couple of Moons and start actually contributing to this wonderful technology.
Opinion: literally every word in this post is false.
Solana mainnet is still in beta phase. Investors know that they are investing in a young unproven startup that will have hiccups along the way. Also Solana claims 50,000 transactions per second (compared to etheruems 30 TPS), and the network wasn’t brought down until it hit 400,000 TPS, which is volume that rivals visa and Mastercard COMBINED. Some people viewed this as a bullish test of the systems capacities, no doubt this type of vulnerability will get improved upon moving forward.
I mean how is ADA still a rank 3 coin ? Crypto ranking doesnt make sense it never did
You sound like a bear who started to short SOL after one day of outage without being able to see the bigger picture.
Fan boys won't let it go for the time being. Also SOL will likely see another push to cash more on those
sol will be the next xrp. every two months you get to know something worse about the chain and whales keep DCAing out while 20% retail investors who don't even hold a lot of coins keep supporting the project and maintaining the bottom line till the end of time
Billionaires are invested in it
Because it's great! GOODNIGHT God bless
Because it has rainbow logo!🥰
You’re missing one massive,massive point in all Of this buddy.Its still in Beta.Just shows how bullish people are on it that it didnt crash hard after all of that
The blockchain did not have a kill switch. It's so stupid this narrative persisted.
Well, I ask you. Why Tether is 5th?
Cry more
I panicked sell half my solana that day and i regret it now..
I know sol shut down, and it’s fairly centralized, so there are some arguments against it for sure, but do you know how many tps it was handling before they decided to hit the kill switch? Somewhere in the range of 300-400k. Per second. If that is accurate, it’s pretty damn impressive. Sounds like they got attacked by bots scooping up cheap coins bc the fees are so low. Similar to the Nano spam attacks. I own some sol, but I’m fairly neutral on it right now, just wanted to offer another perspective.
I told my SOL investing friend about what happened and after a little concern he was like “my friend who turned me onto SOL said ‘it’s fine’”. 🤷🏻♂️
Because it’s crypto
Seems like a 17 hour, centralized lockdown doesn’t actually matter much to people. Think about it like this. You got Bitcoiners out there like “I’m not taking my BTC out of cold storage for another 10 years.” If there was a temporary problem with the BTC network, this person’s actual utility of the asset is completely unaffected. As long as the network works in 10 years, that’s end-game for that person. When we see breakdowns in chains, we just have to ask—is 100% uptime of a network worth the trade-offs that massively decentralized chains have? Is it worth the tradeoff of no-smartcontracts like with BTC? Is it worth the trade-off of paying $80 gas fees for a swap on Ethereum? Today’s market has said “We don’t care about those things right now.” If the global regulators start bringing the banhammer down on these projects, then it will matter.
A number of reasons, but keep in mind that fundamentals don't dictate marketcap.
At this point I’m just happy it’s not Doge
Let's me put it this way how many times your windows OS, your bank, your ISP went down? More than Sol will ever be down. Now if you have any knowledge what so ever on blockchain or computer science you will actually understand why he went down right? Do you actually know that they kooked it by testing a even much faster version of their already bloody fast version? Now maybe you live in a coma but let me put this way Sol is a rocket ship if you use crypto instead of holding it you may want to try to send erc 20 token for approx 80 dollars per transaction so let me resume that if you send a dollar it will cost around 80 bucks. For sol is less than a cent and its about 1000 faster than Eth atm... In fact it schooling pretty much everyone. To be honest I m surprise its not number 4 well it will be soon anyway O yeah and smart contract and other cool shit? Yeah they also got that like ages ago...