But at that point you might have to wonder: Why should I buy into a crypto that doesn't even work?
Did the devs ever even figure out what happened with the last major outage only 10 months ago?
Solana Developers Say Reason for Network Outage Still Unclear
“At approximately 05:46:16 UTC 2023-02-25, Solana Mainnet Beta suffered a significant performance degradation,” the developers said. “Eventually leading the validator community to opt for a restart of the network. The cause of this is still unknown and under active investigation.”
“Root cause is still unknown and under active investigation,” developers added.
The problems that started as sluggish transaction processing spiraled into a near complete shutdown of activity on Solana, validators and developers told CoinDesk over the weekend.
And what about that Mainnet Beta? Yes, you heard right, it's still only in Beta, even though they said over 2 years ago that it's ready for prime time, but they'd keep the 'Beta' tag for a year or so:
Mainnet is launched! It was launched in March and is successfully working. For your understanding - Yes, we were first calling it beta because it was just launched and not every function was available.
We will keep the suffix "beta" for a year or so because we want to check the mainnet stability in the long term and make sure we have a great product. But it's a working network - partners work on this network, Serum DEX running on this blockchain, KIN moves it's users to this network and that is exactly the blockchain the Solana Accelerator team winners use to build on.
source:
https://np.reddit.com/r/solana/comments/lx423a/when_will_solana_mainnet_get_out_of_beta/
(see first comment)
Currently the main explorer still lists it as Beta. I invite you to check for yourself:
And what about that concentration of over 75% of the stake in less than 10% of the top validators?
(a quick look at https://solanabeach.io/validators should confirm)
This is a remarkably frightening statistic. This is definitely not decentralized enough, not even remotely so. Could you imagine if there was a Bitcoin mining pool that controlled 75% of the hashing power?
Final question: are any of the people FOMO'ing into Solana DYOR'ing. It only took me 20 minutes to find this stuff out.
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