• bitcoinBitcoin(BTC)$95,750.00-0.87%
  • ethereumEthereum(ETH)$2,805.512.90%
  • rippleXRP(XRP)$2.56-1.05%
  • tetherTether(USDT)$1.000.01%
  • binancecoinBNB(BNB)$655.920.16%
  • solanaSolana(SOL)$169.15-2.41%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2445950.45%
  • cardanoCardano(ADA)$0.780.92%
  • staked-etherLido Staked Ether(STETH)$2,796.282.53%
  • bitcoinBitcoin(BTC)$95,750.00-0.87%
  • ethereumEthereum(ETH)$2,805.512.90%
  • rippleXRP(XRP)$2.56-1.05%
  • tetherTether(USDT)$1.000.01%
  • binancecoinBNB(BNB)$655.920.16%
  • solanaSolana(SOL)$169.15-2.41%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2445950.45%
  • cardanoCardano(ADA)$0.780.92%
  • staked-etherLido Staked Ether(STETH)$2,796.282.53%

Edward Snowden Criticizes Solana And Its Highly Centralized Approach

October 3, 2024

In 2013, Edward Snowden disrupted beliefs about online privacy by revealing a worldwide surveillance operation aimed at citizens. Despite facing significant personal consequences, his disclosures reinforced his role as a dedicated champion for privacy rights. During his speech at Token2049 in Singapore, Snowden criticized Solana (SOL) and its highly centralized approach to blockchain development, cautioning that it might ultimately serve authoritarian regimes. Solana Under Scrutiny Responding to a question about creating safe technology, Snowden cited Solana as a cautionary example of blockchain development. He emphasized that genuine security should incorporate an adversarial mindset above all else. Snowden noted that while Solana integrates good concepts, it centralizes them to enhance speed and reduce costs. Although this convenience may be appealing, he warned it also leads to vulnerabilities, creating a system where individuals can easily lose control. Nonetheless, he expressed limited concern at the moment, pointing out that the primary applications on Solana revolve around memecoins and scams rather than significant state interests. Thinking Long Term The struggle between scalability and decentralization presents a core challenge in blockchain development, with projects often forced to choose one over the other. A libertarian perspective may view all regulatory efforts as attempts to co-opt freedom. Achieving an appropriate balance between absolute freedom and authoritarianism is essential. Nevertheless, while Solana does offer rapid transactions and low fees which might draw users initially, with the platform also leading the charge in positive net flows and surpassing all other chains with a total of $1.0 billion over the past three months, the critique made by Snowden raises valid concerns regarding the long term viability of its development strategy.

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