Recognizing Network Effects and Stability
Bons now acknowledges the undeniable network effects of Solana, even when considering the potential for inflated metrics. He also pointed out that the Solana network has significantly improved its stability, addressing issues he had previously criticized years ago.
SOL as a Strong Layer 1 Contender
Furthermore, Bons has identified Solana as a formidable Layer 1 contender in the blockchain space. He attributes this to Solana’s parallel processing capabilities and its unique economic model.
- Solana’s parallel processing capabilities
- Economic model aligning with Bons’ ideal design
Bons also drew a noteworthy comparison between SOL and Ethereum (ETH). With ETH shifting away from layer-one scaling solutions, SOL has emerged as a strong advocate for an alternative approach, particularly sharding. Bons recognizes sharding as a superior scaling solution but acknowledges SOL’s impressive potential with its parallel processing capabilities, which could challenge Ethereum’s stance.
Additionally, Bons commended the Solana community for its resilience during the bear market. He noted that while he maintained some of his earlier critiques, a blockchain should not be solely defined by its past.
Bons pointed out that Solana’s model distinguishes it from typical venture capital-driven chains. He expressed his admiration for this aspect, stating, “That is admittedly impressive, so credit where credit is due, SOL is not going away.”
SOL’s Significance in the Crypto Space
In conclusion, Bons recognizes SOL as a significant player in the crypto space, ticking many boxes alongside a diverse array of Layer 1 solutions. He emphasized the importance of not letting the pursuit of perfection obstruct the pursuit of what is good and valuable in the crypto world.