Solana Has BAD NEWS!!! Major SOL Dump Is NEAR!!?
NFTs Gaming, DeFi.its all being built on Ethereum., But …. Have you noticed the Ethereum competitors coming in HOT, fiercely shooting up the rankings? Are these new competitors going to make it … or are they just the EOSs and Trons of this bullrun cycle Well find out in about 10 minutes, give or take a few … because its time for Chico Crypto? There is no doubt that Ethereum is getting ridiculous, with the fees locking out a large majority of crypto users and investors For a simple Ethereum transfer, one of the most basic and cheap transactions. The average fee was 3.34 cents at the end of June.. Over the past 2 and a half months, its trajectory has been up with a peak of 18.50 cents being reached September, 7th, That is, an increase of 453 percent. Just to transfer ethereum. You were paying nearly 20 bucks. More complex transactions like a swap on a DEX AMM, were costing between 150 to 200 dollars. On that day. Nobody besides massive whales, who are making trades in the 10s of thousands of dollars, are able to profitably use the Ethereum mainchain.. There are only a few whales, there are many minnows and fish and they need a home where they can trade too. That is why we saw the Ethereum competitors have been doing their thing and PUMPING So lets. Just look at the prices of Eth competitors over the past 2 and half months compared with the gas fees chart Solana going ballistic .
.. End of June, when ethereum gas was 3.34 cents, … Solana around just 33 dollars.. The daily close peak was about 189 dollars, and this was September 8th the day after Ethereums peak gas fee on the 7th. From 33 to 189 is an increase of about 472 percent. Ethereum gas increased over the same period by 453. Percent., It seems like Solanas price is tracking Ethereum gas increases Like almost to the tee, But its not just Solana, Eth competitors left and right had PUMPs as ETH gas fees hit highs. Algorand soaring from under a dollar to a 2.35 cents, high. Tezos from under 3 Dollars to just about 6 dollars. Elrond from just under 1 hundred to over 200 at its peak.., If its an alternative blockchain that offers high speeds and low transaction fees.it has pumped over the past 2 and a half months. Cardano Avalanche, Fantom …, they have all went Wild Sooo, I dont hate on any gains to be made in the crypto space. Buy what you want to, and I congratulate people on these gains..but. I personally havent stuck finger in any of these Ethereum competitors..because. This is just the same narrative that happened in 2017. Eth competitors promised the same things: they promised faster, cheaper transactions and the ability for dapps to be created on their chain. These werent empty promises either they did offer that and because of the offering and Ethereum gas fees bubbling back then too, the projects surged The two most popular and well known – are EOS and TRON.
As ETH Gas fees went insane. So did the prices of EOS and Tron … like clockwork, Both EOS and Tron, actually grew to outdue Ethereum in the number of transactions, but, as we can see by the end of 2019 … that hype and transaction number crashed for both Because … no one was Using the chains except insiders pumping the transactions from the inside … .there were no real. Dapps developers stayed on Ethereum …, because EOS and Tron sacrificed the most important thing about cryptocurrency for the faster speeds and cheaper transactions.Something called decentralization. They were not decentralized, They sacrificed one of the tris in the blockchain trilema.. What is the blockchain trilema? Well, there are 3 things in cryptocurrency that are important. Decentralization Security and Scalability. Vitalik Buterin is the one who termed this concept, and he understands you. Cant have all 3 of them, as of yet. Developers are trying, but the blockchains that have been created up to today are forced to make trade offs that prevent them from achieving all 3 aspects. Using EOS and Tron. As an example, they gave up decentralization for high throughput.which was obviously not the winning strategy. Eos and TRON are afterthoughts today., But EOS and TRON have been replaced by a new batch of Ethereum competitors, saying they have created something that solves this blockchain trilema. It took 4 years, but the competition cycle has begun. Once again, We are in the midst of the competitor SURGE .
.., but if we compare the 3 top ones, … Solana, Avalanche and Fantom …, there is one that sticks out based on TVL total value locked up in its protocol.. That is Solana as their TVL is 5x bigger than Avalanches and 8x bigger than Fantoms Soooo has Solana solved the Trilema. Are they the next step in blockchain, The scalable and fast Ethereum Well, lets analyze that right, quick Solana is cheaper and faster than Ethereum..there is not doubt about. That. Solana can supposedly support up to 65 thousand transactions per second. That means Solana in the blockchain. Trilema is focusing 1 on Scalability.. What about Security in the trilema? Well, Solana, utilizes, a combination of proof of stake, consensus and proof of history. Proof of history is the main innovation. Solana has created a synchronized clock that allocates a timestamp to each transaction.. Proof of History is a way to decrease the time spent validating the order of transactions. Utilized with Proof of Stake. This eases the selection of the next validator.. In theory, this removes the ability of the validators to control the order in which transactions appear on the blockchain, which in turn enhances security and censorship resistance, But they havent solved the blockchain Trilema., As the validators who are confirming the transactions are the reason they havent solved. The decentralization factor., The most important part As this is cryptocurrency by the way Validator requirements are ridiculous. Going to Solana documentation, you can see the hardware requirements.
For the CPU. You need 12 cores 24 thread minimum with 2.8 Gigahertz speed with support for high end instructions. RAM needs to be 128GB or more And a Motherboard with 256GB capacity suggested. And the Disk requirements are just as insane 1 Terabytes or more just for the ledger and 500 Gigabytes for the accounts, alone. And then a GPU Not necessary right now, but it will be One or more high end GPUs in the future, suggested For the minimum right now with no GPU …. It would cost you 5 thousand dollars just for the hardware.. If you wanted all the best to future proof, including a couple GPUs, it would cost you over 12 thousand dollars. That is, for the hardware alone, my friends Compared with Ethereum, of which you can run a validator with a raspberry PI …, its a freaking supercomputer. That is why a majority of Solana validator nodes are not run by people at their homes. They are run in data centers. Validators.app has Solana, validators sorted and ranked by stake in Data Centers., As we can see theres a total population of 1044 validators on Solana … from the 5 top data centers ranked by stake. There are 332 validators located in them.. That is nearly 13rd …, 31 percent of all validators in Just 5 data centers. And from the total stake of Solana … those 5 data centers control over 50 percent of the stake on the network.. Can you say, centralized AF.
, But many will argue well. Ethereum validation is extremely prohibitive, too. You need 32 Ethereum to run a validator node …. That is nearly 110 thousand dollars. Who has that kind of money? You can run a Solana node with any amount of Solana. Well, that is true.. going back to the requirements. Documentation. Solana says There is no strict minimum amount of SOL required to run a validator on Solana. Yeah, no requirement. You can build the supercomputer and spin up a node …, but if you dont have a certain amount of stake to compete with the other validators, you will not be chosen to validate.remember. Solana, too, is a proof of stake system which rewards nodes with a higher stake. The more solana staked the better chance of being chosen for validation, How much Solana! Well, we can check out Solana, beach and their validator sections., As we can see. The top validators have millions upon millions of Solana, staked and scrolling down and down and down and down some more to the 800s …. You still need over 100 thousand Solana to validate blocks. At yesterdays prices. You would need over 17 million dollars to be an effective chosen, validator Solana., This isnt, a blockchain you or I can participate in … its a blockchain for the RICH. Per example. … here is a smaller validator from GBV capital, with 2697 solana staked with it, which is still over half a million.how many blocks. Has it validated and been rewarded for Just 2 blocks and those 2 blocks came 4 months, ago.
this validator, with half a million hasnt been rewarded or proposed a block in over 4 months., Let that sink in It gets worse …. How about this node from hewkatoo with 101 Solana staked They dont even get a single block, …, nothing for this node and its very, very unlikely they will ever be picked in the selection rotation. Decentralization isnt there …, but Ethereum is not like this. Going to ETH2 documentation and the validator FAQ. It asksIs there any advantage to having more than 32 ETH at stake, and it says No.. There is no advantage to having more than 32 ETH staked. Limiting the maximum stake to 32. Eth encourages decentralization of power as it prevents any single validator from having an excessively large vote on the state of the chain, because with validator vote is weighted by their stake. Thats. How proof of stake works? Sooo, the blockchain Trilema … it hasnt been solved by either Solana or Ethereum in their current forms. Ethereum 2.0 with sharding, is attempting to be the one that does. Solana claims with improvements. This decentralization will come through slashing and better leader selection. Whos, going to do it. 1St Ill keep you updated as the finish line, gets closer.