Solana founder Yakovenko responds to allegations
Solana founder Anatoly Yakovenko responds to crypto analyst Justin Bons’ allegations. In his opinion, the discussion about the points criticized has now been exhausted. Some of the criticisms are due to technical details.
Solana does not manipulate transaction counts
Crypto analyst Justin Bons criticized the Solana (SOL) cryptocurrency in a Twitter post . In his opinion, the project shines with fraud and manipulation, has low technical standards and is therefore not really competitive despite its commercial success.
Bons accuses the Solana developers of intentionally manipulating the transaction numbers and treating messages to coordinate the blockchain consensus as normal payments.
Solana founder Anatoly Yakovenko countered Bons in a statement. According to his statements, Solana does not manipulate the transaction numbers. People who criticize this detail would have little technical understanding.
It is possible and cheaper to simply transmit the votes as actual transactions.
Write Yakovenko about these events. Because of the immense throughput, the transmission of messages via SOL itself makes sense. Otherwise, millions of daily transactions would have to go through another network.
There is no centralization of the SOL network due to high fees
Another point that goes hand in hand with this accusation is also incorrect. Bons explained that due to the mass consensus messages, a whopping $6 million in seed capital was needed to become a profitable validator.
However, according to Yakovenko, current figures speak against this thesis. There are 1,800 validators in the Solana network.
So people figured out how it works.
So the programmer.
Background of the manipulated circulating supply is missing
Yakovenko’s statement is not new. He wrote his articles back in July. Even then, Bons had criticized SOL. Bons’ most serious allegation at the time related to the manipulated circulation supply at Solana’s early days in spring 2020.
In his justification, Yakovenko initially made no reference to this topic. Only after repeated questions from users did he react and refer to contributions that the Solana Foundation itself published on its own blog .
There is no conclusive explanation as to why SOL concealed most of the circulating supply at the time. It also remains inexplicable why SOL was only refunded three million of the eleven million SOL loaned after declaring that it would destroy the entire loan.
To make up for the lack of repayment, eight million coins owned by the Solana Foundation were destroyed.