Crypto and Ethereum advocate Adriano Feria is bearish on Solana, not due to the coin’s value motion within the medium to long run however due to the blockchain’s high management.
In an X submit on January 5, Feria asserted that Solana’s main figures, together with Anatoly Yakovenko, the co-founder, and Mert, one of many venture’s high builders, are both “trolls” or “idiots.” What’s worse, the observer notes, is that Solana’s followers proceed to help them “blindly.”
Feria: Solana Leaders Difficulty Contradicting Statements
Within the submit, Feria highlighted a number of situations the place Solana’s management has made “contradictory” or “inaccurate” claims. For instance, the analyst identified that Yakovenko has, up to now, flip-flopped on the connection between Solana and Ethereum.
For example, Feria stated the Solana co-founder initially steered that Ethereum turn out to be a layer-2 resolution for Solana. Nonetheless, the manager later asserted that Solana was already a layer-2 resolution for Ethereum.
In essence, Yakovenko appears to have steered that given Ethereum’s scaling challenges, Solana, a “high throughput blockchain with low fees,” can course of Ethereum transactions as an off-chain choice. This setup is identical strategy taken by Arbitrum, Base, or Optimism, for instance, to alleviate the world’s second-largest blockchain by market cap.
Feria additionally criticized Solana developer and influencer Mert for “lacking” elementary information of crypto ideas. The analyst claimed the developer habitually resorts to non-public assaults slightly than participating in constructive discussions. Earlier, Feria continued, Mert couldn’t clearly clarify Solana’s historic transaction processing capability or the idea of “consensus overhead.”
Based mostly on a earlier remark, Feria additionally questioned the developer’s suggestion that Ethereum roll-ups could be extra enticing to initiatives and builders if deployed on parallelized EVM platforms, contemplating Ethereum’s inherent scalability capabilities.
What It Means For Solana
Total, the critique of Solana’s management and builders echoes considerations raised by different business observers who consider that the venture’s advertising and marketing and communication methods are inclined to inflate the community’s true capabilities.
Responding to Feria’s submit on X, some stated they had been trolled when onerous however official questions had been raised. These criticisms can undermine Solana’s credibility and hinder its adoption amongst critical traders and builders.
Regardless of the bearish take, Solana has been trending greater, even outperforming high cash, together with Ethereum and Bitcoin, up to now three months. The coin is buying and selling at round $100, down from 2023’s excessive of roughly $125. At spot charges, SOL is up almost 5X from September 2023 lows.
Function picture from Canva, chart from TradingView
