Edward Snowden, a former CIA agent and active in the cryptocurrency world, recently made remarkable statements about the popular altcoin Solana (SOL).
Speaking via video link at the Token2049 conference, Snowden criticized Solana for its centralization.
According to Snowden, Solana, while often admired for its technological prowess, may not align with its decentralized stance.
At this point, Snowden noted that Solana focused on speed and cost efficiency, but warned that this compromised the platform’s decentralization.
Snowden, who pointed out that Solana was becoming increasingly centralized, argued that the Solana team was deliberately going for centralization in order to create a faster, more efficient and cheaper network, and that Solana was currently only used for memecoins and scams.
“A lot of people — I don’t want to name names. The Solana team thinks, let’s take the good ideas and centralize everything.
They say the network will be faster, more efficient and cheaper, but they overlook the risk that centralization poses for SOL.
This also makes Solana an easily breachable network and system for governments and bad actors.”
Snowden criticized Solana for becoming increasingly centralized while praising Bitcoin (BTC) as a system resistant to government interference.
*This is not investment advice.