Solana could be replaced with a SQL database at this point, you’d get as much scalability as you want, and there would be no tradeoff in decentralization b/c the chain has none, to begin with. People in crypto don’t want to get rid of the banks; they want to be the first to get in on the bank that will give them the most significant yields.
It’s been said here before, but Solana is a scam: I knew it from the second I heard the CEO of the development company describe the “network switch model” of “doing one thing (high scalability and throughput for dApps) and doing it well.”
Tech industry can show ledger scale faster and is cheaper than Solana
Moreover, it’s more stable, and you’ll have next to no problems using it b/c the underlying tech has already been in use since the ’70s!
… It’s called a SQL database. It can handle millions of TPS even without complex scaling schemes, and it gets faster as you add more machines to it. You can run almost any financial application on top of it with no problems b/c. All of traditional finance is already built on top of it. Instead of using a complex language like Solidity or Rust, devs can use JavaScript. You can even log into it with your Facebook account!
The problem is: What I’m describing is 100% centralized. It’s the technical foundation for all data centralization; it’s the bookkeeping layer behind the billions and trillions of dollars that the banks and big tech are screwing people out of every day (the settlement layer, if you will).
The point I’m getting at is that: If you have a ledger that can be rolled back at the discretion of an influential group of authorities, then it’s a glorified database being run by a glorified bank. If you have no problem with this, you’re in crypto for the wrong reasons; therefore, I suggest it’s time to reexamine things.
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