Solana was supposed to be the “Ethereum killer.”
Faster
Cheaper
More scalable
But one data center glitch revealed a very different picture:
• 29% of all staked SOL went offline within minutes
• 94% of that stake was concentrated with one provider
• The network came within 4.5% of a full halt
• Just 10 minutes separated the network from a much bigger incident
Meanwhile, Ethereum continued to produce blocks as usual.
This doesn’t mean Solana is broken. Its performance and growth are undeniable.
But it does raise a serious question:
Can a chain really be called an “Ethereum killer” if its validator infrastructure remains this concentrated?
Solana may be faster.
But when it comes to decentralization and resilience, Ethereum still has a strong argument.
Solana may be the challenger, but Ethereum is still the king when it comes to resilience and decentralization. 💪
LATEST: @Solana nearly halted today after a routing glitch knocked 29% of staked $SOL offline, coming within 20 million tokens of the one-third threshold that would have frozen the entire network, per @MarinadeFinance.
I’ve had all my bitcoin stolen while away on holiday. It was on a Coldcard MK3.
I was led to believe this was really secure. It was recommended by experts including @saifedean. I also had the seed on a metal plate, hidden away.
When I got news of the hack on Friday I didn’t know what to do, whether to fly home and leave the family holiday or not.
Not until Saturday evening did I get the idea to ask my neighbour with the house key to find the seed for me.
Sunday morning I led the neighbour on an expedition around the house, restored the wallet, and it said zero bitcoin. I asked another friend to check on my software in the house. Zero.
It was all drained Saturday afternoon before I’d had the idea to get someone to find the seed.
This 2 bitcoin was supposed to be to give to my 2 children to give them a good start in life. Makes me tear up to think of it.
This comes as a terrible blow. The timing was so unlucky with being away, or I would have moved it in time.
@Coinkite, if there was any fairness, you would have to pay us our money back.
I just hope the US authorities find the culprits and the stolen bitcoin and return it to us.
@americanhodl8@ZynxBTC