Is Solana full of hype?

[Abiky]

Back in the day, Solana was one of those cryptocurrencies with a very low price, often overlooked by mainstream investors and traders alike. It's now the day where Solana is valued within the triple digits, positioned among the top 10 cryptocurrencies in market cap. 2021 was the year were SOL took off massively in price. While Solana's been extremely profitable to early investors, it has one major drawback. And that is the lack of decentralization, security, and reliability.

A few months ago, Solana experienced a network disruption which put almost everything down to a halt. Without a reliable blockchain network, how can people experience the full benefits of this revolutionary tech? Last time I've checked, developers were planning on introducing an "observation system" in order to "help identify issues and patch them accordingly". If implemented, Solana would become much more centralized than it is right now, greatly defeating the whole purpose of crypto/Blockchain tech. It would be no different than traditional banks. Yet, people keep pouring money like crazy into SOL as they're only focused on becoming rich quick. They don't care about decentralization, as convenience goes on top of everything else.

Do you think Solana is full of hype? If not, why? What will happen with SOL's price if network disruptions persist? Will it mark the end of Solana for good? Or will the blockchain network survive for a long time? Your input will be greatly appreciated. Thanks in advance.

[btc_angela]

I don't think that SOL has is full of hype, I mean yeah it experienced a network disruption and yes it does really affected. But I guess it's part of the growing pains in crypto space, I mean they should learn their hard lessons on that downtime and it can't happen again as it has a drastic effect on the price itself.

The project looks solid, but as I have said, it has to go to a lot just like any other successful cryptos. It will not be a smooth sailing so they should be aware that there are going to be a lot of bumps in the road and they should face and resolved it.

[crwth]

I don't think it's hype. It was hyped for sure when the time of NFT's was so much more applied in the cryptocurrency space. I can't wait for the time to come that more NFTs would be in the SOL space. I think that's one of the reasons why it has increased in price so much. If the technical problems persist, then that's when it will start to collapse, but once it has been continuously repaired. No significant things happen where hacking or devaluing occurs; it's pretty good.

[asyakashi]

What happened in Solana is a natural thing because we are entering a bear market.  Because solana is still developing and the team is still active we can't say if solana is coming to an end. However, solana has the lag of other networks. I'm sure solana has a bright future as we watch the next bull.

[X-ray]

Do you think Solana is full of hype?

I do, this blockchain is full with hype but there's no a lot of differences when it compared with L2 blockchain like BSC or polygon. The fact that if BSC and Polygon even better than SOL.

If not, why? What will happen with SOL's price if network disruptions persist?

If that will be disrupting the ecosystem and that will be a disaster for SOL. People may feel so bad if the blockchain gets shutdown again and again. It's not about how it can be alive again but remember that people will be loosing their trust to the network. This will be also disrupting so many people that are using the blockchain at the same time. It seems like more than 1k validators that already stated on its site is a big BS.

Will it mark the end of Solana for good?

It will if the blockchain is still facing the same problem over and over.

Or will the blockchain network survive for a long time?

Can you expect a blockchain that eventually gets shutdown to survive for long term? I think you know the answer so well.

[Abiky]

I don't think it's hype. It was hyped for sure when the time of NFT's was so much more applied in the cryptocurrency space. I can't wait for the time to come that more NFTs would be in the SOL space. I think that's one of the reasons why it has increased in price so much. If the technical problems persist, then that's when it will start to collapse, but once it has been continuously repaired. No significant things happen where hacking or devaluing occurs; it's pretty good.

Unless developers fix the underlying issues on the Solana blockchain, I wouldn't count on it as a serious long-term investment. Transaction confirmation times may be fast and fees may be ridiculously low, but security/reliability/decentralization is what matters above all else. People seem to be missing the real point of crypto/Blockchain tech. I don't blame them, since the vast majority of people aren't quite educated about this emerging tech. They're only following the hype, pouring money into what's hot at the moment. Convenience/ease-of-use goes on top of everything else, so there's that.

Whenever Solana will last or fade into oblivion, will depend on developer's efforts to keep it as secure and resilient as possible. Hype or not, it seems to me that Solana isn't going anywhere at least in the short term. Just my thoughts

[Beparanf]

Solana is working  with one of the biggest VC in crypto which is Almeda research that is home for power house crypto project like FTX, Serum and Raydium. They have pretty high TPS which can rival to all known existing blockchain right now and finally the price is still low before they was known to the crypto community even they have the superb technology in there blockchain. It is not just hype but rather discovered.

[SquallLeonhart]

Do you think Solana is full of hype? If not, why? What will happen with SOL's price if network disruptions persist? Will it mark the end of Solana for good? Or will the blockchain network survive for a long time?

I wouldn't say it is full of hype. I mean look at the amount of NFT deals are happening right now in the solana network, they are marvellous. People are now basically doing it for nearly free and that is how they make their money. Collections are made, trades are happening, I am most certain that the biggest NFT markets will eventually recognize SOL as the second biggest after ETH, instead of matic or something to circumvent that ETH gas fee situation.

So all in all I would have ot say that SOL is not hyped, it is used for something good, which is NFT world, it is not over and it is not guaranteed to be a success neither, but definitely not hyped. Something being hyped sounds like it is overrated or overvalued, I would have to say that it is not overvalued or overhyped, remember it also doesn't mean it will be 1k+ or something, I am just talking about today, not the future.

[Congyang]

I will probably agree with some people here who do say that it's not hype.
SOL can be like it is today because the projects they run are quite good.
besides that they are also more gas friendly and this is of course very liked by most of the people.
apart from that for the decline that occurred today is actually quite reasonable because it is not only those who experience this decline but almost all coins experience the same thing

[laredo7mm]

Solana blockchain has benefited a lot from the NFT hype.  While many nft holders have been plagued by high Ether blockchain gas fees, Solana Aurory and Degenerate Ape Academy have come up with some incredible projects that have given the digital collector item market a new lease of life.  This one push of the NFT market has taken the market cap of sol to $44 billion. 

After a long period of development, Solana has been able to deliver a faster, safer censorship-resistant open blockchain, which has made it suitable for global adoption.  With the ability to handle 50,000 transactions per second, many new Defi, blockchain gaming, web3 projects are choosing Solana as their first choice.  I think the price of Solana could be around ATH this year though if the market goes down again in short term then the price of sol could be around $70.  However, according to the updates that sol will bring according to its future plans, the price of 1 sol may be around $900 by 2025.

[OgNasty]

I know next to nothing about Solana.  However, every single young person I know that has taken an interest in crypto only talks about Solana.  I would say of the people I know personally, more of them own Solana than Bitcoin.  I don't know if this is because they don't understand how coin prices and market caps work, or if they think Bitcoin has gone as far as it can go, but I know they are all big into DeFi and NFTs and have no idea what they would even use Bitcoin for.  They want to hold coins that will pay them huge interest for staking or providing liquidity.  They don't want to buy a small amount and expect Bitcoin to do another x10 for them to make a few bucks.  They don't care about countries adopting it.  They'll never set up a Lightning node.  They only know Bitcoin's use case is to purchase altcoins and they prefer USDT or USDC for that activity.  Even in El Salvador, which is being toted as a Bitcoin haven is seeing more usage of USDT than Bitcoin if the information I'm reading is correct.

[QueenVera]

Currently yes it is full of hype, the blockchain of Solana is not ready for the level of attention it is getting currently and it is very evident. Assuming the growth was gradual and genuine instead of the fomo leading to hype and attention making it a target to hackers, the story would had been different. Solana is still a young blockchain which with time I think they will better their blockchain as the successful attacks on their network is becoming a bad reputation especially as they wants to take ethereum place.

Likes look at their token valuation, that is too high if you ask me, which only comes from hype. Speculators do not want to miss out as they did for other altcoins so they jumped behind Solana and skyrocket the token value without much to show for.

[LUCKMCFLY]

I think that Solana is going through a moment where it totally depends on the metaverses, it has not yet been possible to determine what can happen, it is about to happen through the Solana network, Polygon, among others, but there is something that cannot be overlook, is that Solana has many followers, many investors, and I think it is a coin that gives a lot to talk about, so it has the "fame" that makes any project go ahead, and despite the price of BTC, Solana is it has maintained an acceptable price level and this is what should be highlighted, it is not a bad idea to invest in this currency, at least I see it that way, I do not think it is a hype or a fever.

[magneto]

Back in the day, Solana was one of those cryptocurrencies with a very low price, often overlooked by mainstream investors and traders alike. It's now the day where Solana is valued within the triple digits, positioned among the top 10 cryptocurrencies in market cap. 2021 was the year were SOL took off massively in price. While Solana's been extremely profitable to early investors, it has one major drawback. And that is the lack of decentralization, security, and reliability.

A few months ago, Solana experienced a network disruption which put almost everything down to a halt. Without a reliable blockchain network, how can people experience the full benefits of this revolutionary tech? Last time I've checked, developers were planning on introducing an "observation system" in order to "help identify issues and patch them accordingly". If implemented, Solana would become much more centralized than it is right now, greatly defeating the whole purpose of crypto/Blockchain tech. It would be no different than traditional banks. Yet, people keep pouring money like crazy into SOL as they're only focused on becoming rich quick. They don't care about decentralization, as convenience goes on top of everything else.

Do you think Solana is full of hype? If not, why? What will happen with SOL's price if network disruptions persist? Will it mark the end of Solana for good? Or will the blockchain network survive for a long time? Your input will be greatly appreciated. Thanks in advance.

I think so.

There is literally no working product. Their actual TPS is much less than their theoretical TPS.

Their DeFi network isn't even as strong as a lower cap coin like FTM or AVAX. They are essentially dominated in every single category except for fees by ETH, which will probably not be the case for the long run as ETH2.0 comes around.

[JeffBrad12]

Do you think Solana is full of hype? If not, why? What will happen with SOL's price if network disruptions persist? Will it mark the end of Solana for good? Or will the blockchain network survive for a long time? Your input will be greatly appreciated. Thanks in advance.

People are thinking this is a worthy competitor for etheruem. I think that doesn't make sense to see people investing their money into the project that was even getting shut down several times. I think that solana was a totally hyped project. The blockchain was not so good as ethereum but the only problem is ethereum doesn't so scalable and that makes people are migrating to the scalable blockchain coz they wanna actively trade with cheap fees. You can imagine if the blockchain gets shutdown for a day this will be a disaster for solana supporters and they will not believe this blockchain again. It can be the end of solana blockchain. The blockchain network will survive for long time as long as it can fix the problem that was triggering the blockchain to shut down. This is a horrible thing from the solana blockchain.

[pushups44]

No, Solana is not full of hype, since it has achieved a strong network effect and its ecosystem has a significant total value locked (TVL). Solana also has enormous throughput and a good team of developers. The problem with this network is its susceptibility to DDoS attacks. The founder has indicated that this is not a problem, but if the financial system is to run on top of the protocol, it would thus be too vulnerable. It will thus be interesting to see if Solana can overcome this glaring weakness over time by patching this vulnerability.

[pakhitheboss]

I think BSC is more centralized than Solana. Still people are investing in different projects running on BSC and some have given higher returns. Solana is still in development phase, it hyped because of a few NFT projects. Untill the NFT craze fades away till then you can expect it to pump. At the moment since the whole market is in red therefore the price is falling.

[cryptoaddictchie]

I think BSC is more centralized than Solana. Still people are investing in different projects running on BSC and some have given higher returns. Solana is still in development phase, it hyped because of a few NFT projects. Untill the NFT craze fades away till then you can expect it to pump. At the moment since the whole market is in red therefore the price is falling.

Maybe it is. But solana always go down and has many failure on their server. Imagine a platform with so huge in user base and suddenly its down. It shows a centralized approach of solana, yes its good and efficient but they should avoid and increase their security features so users wont jump to other l1 out there.

[molsewid]

There is nothing to surprise about hype in crypto currency. Solona is one of the coin which was fallen in hype but it is fundamentally strong. However, its price suddenly increased, which does not mean to be hypocritical. The current situation is good for all the coins, but hopefully if the market get turn, we will see the same thing which is happen with solona previous Bull market.

I can't say that Solana has gained a lot because of the hype maybe that time it was pumping was in a time when most of the projects that were hyped are gaining but Solana is different. People did appreciate the use case of the project that's why its value gained by almost 3x from its previous market value. It is still a good project that's why it made on the list of the top 10 crypto's exists. I could not also compare it to BSC and Ethereum because these crypto have their own kind of uses.

[RealMalatesta]

Solana still has good potential and will continue to skyrocket, and happy because today the market is green again after a dip of almost 2 months and yesterday was the worst red record because many altcoins dropped more than 15%. do not hesitate to continue to invest Solana.

Maybe now would be a perfect time for those who wants to invest in the Solana market as the price continues to dip. The altcoins market is expected to go into another bullish trend, anytime this year, so now would be the perfect time for the investment in this market and hold it for a long term. If we should see another bull run it is quite that possible that the SOL value will be getting passed the last all time high price of over $200. Despite that there are people who don’t like the fact that it is centralized, but that has not been able to stop the growth of the SOL market.