Solana may very well be changed with a SQL database at this level, you’d get as a lot scalability as you need, and there could be no tradeoff in decentralization b/c the chain has none, to start with. Folks in crypto don’t need to eliminate the banks; they need to be the primary to get in on the financial institution that can give them essentially the most important yields.
It’s been stated right here earlier than, however Solana is a rip-off: I knew it from the second I heard the CEO of the event firm describe the “community swap mannequin” of “doing one factor (excessive scalability and throughput for dApps) and doing it effectively.”
Tech trade can present ledger scale sooner and is cheaper than Solana
Furthermore, it’s extra secure, and also you’ll have subsequent to no issues utilizing it b/c the underlying tech has already been in use for the reason that ’70s!
… It’s known as a SQL database. It might probably deal with hundreds of thousands of TPS even with out advanced scaling schemes, and it will get sooner as you add extra machines to it. You possibly can run nearly any monetary software on high of it with no issues b/c. All of conventional finance is already constructed on high of it. As an alternative of utilizing a fancy language like Solidity or Rust, devs can use JavaScript. You possibly can even log into it together with your Facebook account!
The issue is: What I’m describing is 100% centralized. It’s the technical basis for all information centralization; it’s the bookkeeping layer behind the billions and trillions of {dollars} that the banks and massive tech are screwing folks out of daily (the settlement layer, if you’ll).
The purpose I’m getting at is that: When you have a ledger that may be rolled again on the discretion of an influential group of authorities, then it’s a glorified database being run by a glorified financial institution. When you have no drawback with this, you’re in crypto for the improper causes; due to this fact, I counsel it’s time to reexamine issues.
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