Riccardo Curatolo said that SOLANA, one of the leaders of the cryptocurrency market in terms of capitalization of $ 75.9 billion and the cost of Sol token about $ 146, has problems associated with centralization, technical failures and risks associated with the law.
According to Kuratolo, one of the main problems of SOLANA, which is able to undermine the position of the project, has become a high concentration network management. Now only 10 largest bullets of the validators are controlled by about 22% of the total network steaking.
The collapse of the Argentinean Libra Memicine in February, which caused the losses of crypto -investors by billions of dollars, as well as the possible relationship of the Libra collapse with the actions of the Jupiter and Meteora platforms, which, allegedly, contributed to the manipulation of the liquidity of memicin, also strengthened the distrust of the SOLANA ecosystem.
Over the past four years, the SOLANA network has repeatedly encountered large interruptions in work, including a 17-hour simple in September 2021 and the failure of the validators in February 2024, which negatively affected users’ trust and evaluate the long-term reliability of the project.
Earlier, investors filed a collective lawsuit against the Meteora decentralized exchange based on the SOLANA blockchain and the Kelsier Labs venture company, accusing them of fraud with M3M3 tokens, due to which the traders suffered $ 69 million losses.
Source: Bits
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