Cyber Capital CIO Justin Bons criticized Solana (SOL).
Making the statement on his Twitter account, Bons emphasized that Solana is the only blockchain that has crashed seven times in the past months.
1/25) Solana has far too many red flags
Blockchains should never have downtime
Yet SOL has gone down at least 7 times since I first spoke out!
A consequence of their own design decisions
There are many examples of lies, fraud & bad design
Exposing a pattern of bad behavior:
— Justin Bons (@Justin_Bons) July 22, 2022
The Solana blockchain experienced a series of outages in 2021 and 2022. Developers had to restart the blockchain to fix the problem.
Bons also noted that the Solana team had made false statements about SOL’s circulating supply, reminding that there was a Solana wallet of 13 million tokens disclosed by a third party.
In addition, Bons stated that the statements that the Solana blockchain is processing 400,000 transactions per second are far from true.
Community Response
Bons stated that Solana’s Proof-of-History (PoH) consensus algorithm is not innovative and that this structure has become prone to 51% attack.
Bons also argued that Solana’s newly announced Android smartphone Saga is a money pitfall.
Solana developer @0xMert_, who previously worked for companies such as Coinbase and Blackberry, stated that all of Bons’ accusations were refuted.
For example, he said that all the interruptions were due to IDoS attacks, and that these interruptions could happen in most Proof-of-Stake blockchains.
https://twitter.com/0xMert_/status/1470131546606735362
11065
