SOL The Chain Goes down Again ! ETH 2.0 and upgrade is the only solution ?

[RealMalatesta]

I am a long term Solana holder but right now I am feeling kind of worried due to the frequent issues in the Solana blockchain.
I am holding SOL for more than a year now and may be I will hold it longer but if these downfalls keep occurring I might have to reconsider holding SOL.
ETH is definitely a good option no doubt in that but it's good to have a diversified portfolio which was the reason of me buying SOL.
I am not really sure which other options to consider for a long term other than BTC and ETH.
All seems hyped up in a short term.

That's the problem with network and congestion due to all the minting of NFT's have cause more problems for SOL network which they need to solve somehow.This time again it took long to solve and the tps was around 1500 far below what they have promised and is capable of.

They do not have 65k TPS like they claim they do, that is the difference and that is the issue. You have to realize that the best case for SOL right now is to avoid any more further promises because if they keep promising something then we are not going to see anything get done with the previous promises since they weren't even covered.

What we need right now is the profits it could make in the future, and that will only happen with fixing the problems of today. Or the better option is to actually let it be and that way you will be able to just focus on ETH 2.0 or anything else, and make a profit, or even some other coin/token instead of SOL because they keep failing all the time.

[wxa7115]

Solana network gets down caused by candy machine NFT tool. The blockchain that claimed as the most scalable blockchain got down caused by only a candy machine NFT and BOTs. Is not it weird to happen with solana? The bots can flood the network and this is only coming from one of NFT machine tool. You can imagine when there will be some machine will be running at the same time. The worst thing is if solana can go down for more than 7 hours.
The solana investors are getting worried about the condition of the blockchain. This what they called as the most scalable blockchain that was just a gimmick.

I don't get it. How a coin like this being at #7 at the coinmarketcap if it can get down just from bots flooding the network for some NFT? More importantly, if a network could be easily manipulated by bots and not organic users then wasn't it a bad thing? Like how the internet where any platform being infested by bots and not by real users got looked down, everyone stays away from it? While we, as the human has to prove that we ain't a bot to pass through some site (google captcha) to interact with the others?

That should show you how much of a joke most of the coins in the market really are when a coin like Solana can get so high in the rankings despite having such critical issues.

Right now I am taking a look at the top 10 coins and if I leave out bitcoin out then I only see centralized stable coins, centralized coins and some coins in which I will never invest any money, the only other coin that could be considered to be any good is ethereum, and even ethereum has its fair share of issues which I cannot completely ignore.

[Tony116]

Okay from here i just know that if AVAX and BSC are the best blockchains. AVAX never encounter a problem like this. Going offline for around 7 hours were a disaster for anyone. In the crypto that's a very long time to go.
I thought that if this already patched by the developers through the latest update. I see that the new announcement that created by sol dev and they stated that there will be a big update to fix the shortage problem. So this what they called that as the true decentralized blockchain. For me this just another gimmick to fool people to believe if the blockchain was truly centralized.
Bitcoin was the only one

The AVAX network hasn't had any problems yet, but that doesn't mean it never will, most current blockchains are suffering from certain problems.

Not only every 7 hours, but the Solana network has gone offline 7 times since its launch so far. It was advertised as an ETH alternative thanks to its processing speed and cheaper transaction fees than ETH, but overall Sol disappoints investors. Sol's developers always claim to have an update to fix the vulnerability after every offline but they haven't been able to stop it yet. Anyway Sol is still young and has a long way to go, hopefully sol will be back on the blockchain race soon.

[boty]

Especially at the moment some coins are dumping a lot more. Solana is one of them. Once upon a time there was a lot of good position but now it has come down the most. If Ethereum 2.0 is upgraded, the price may go up.I think as soon as the bitcoin market grows, all the coins will start rising again.

beside btc trend that bearish , netowrk traffic down could be reason why solana price crash. it is not the first time solana has serious problem with network . with alot project launched in solana ecosystem, developers team must solve and make its network more scalaable to higher number. all layer 1 blockchain now face serious problem if ethereum 2.0 totally released and solved all problem in 1st version. transaction speed and fee number that so far be serious problem could solved and most new projects will back use this smart contract platform again.

[JeffBrad12]

So many times this blockchain gone offline mode. Is it a special feature that available from this blockchain or what? Solana is the only blockchain in specialized to go offline when the traffic gets increase so hard. So what already done by the dev since last year? this problem already occured since last year but no update works perfectly. I meant when we are seeing how so many people are also being so mad caused by this problem too. I don't even know whether this problem will still happen on the next patch or not.
I can't imagine when sometime this will go offline for about a few days.

[MinMan]

I don't think there is a perfect system here, even the best of them experiences issues. What is important is that this kind of projects will have to learn from this mistakes and try not to make the same in the future.

No doubt that ETH 2.0 is the top altcoin, but what if there is a alternative like SOL and others? isn't it everyone will benefit from it?

Having an alternative for Ethereum is clearly not the problem. The problem is if the alternative blockchain has a history of outage causing the community to ask if the alternative is a benefit or is it a liability in the cryptospace. If you are looking an alternative, I reckon the best is still Binance smart chain. Their development team centralized the block producers to 21 nodes for speed, however, the platform never had similar problems as Solana.

BNB is great but it is centralized as well, that seems to be the problem. Of course, this doesn't mean that SOL is better, SOL is both centralized because the creators keep stopping it and that means it is centralized and shouldn't be invested. But at the same time BNB, is like that as well, those 21 nodes are basically all controlled by Binance itself and that part is risky. Do I believe that BNB is better than all other altcoins aside from ETH?

I do, it is by far the best one, clear third in my mind behind btc and eth, but we should be still careful about it because anything wrong done by Binance will hurt BNB price and that is risky investment.

[cheezcarls]

Ummm just to inform you that ETH 2.0 is already off the table, and it was already replaced by consensus layer. But either way, it’s still considered an upgrade. As for SOL, congestion is the real problem here as well as the scalability. This is why when I want to buy SOL and withdraw it from Binance, it’s not always available due to the congestion.

Yes the transaction fees are super cheap in terms of sending funds or minting NFTs, but again their chain has scalability issues and inconsistent to stabilize where some are having issues in NFT minting or withdrawing from a CEX like Binance.

[Eternad]

Ummm just to inform you that ETH 2.0 is already off the table, and it was already replaced by consensus layer. But either way, it’s still considered an upgrade. As for SOL, congestion is the real problem here as well as the scalability. This is why when I want to buy SOL and withdraw it from Binance, it’s not always available due to the congestion.

Yes the transaction fees are super cheap in terms of sending funds or minting NFTs, but again their chain has scalability issues and inconsistent to stabilize where some are having issues in NFT minting or withdrawing from a CEX like Binance.

This is the downside of using SOL there network congestion is getting worst which makes discouraging for user to purchase it on exchange. I was using it before for gambling purposes since the transaction is almost free but it always disable on CEX which limits me to transfer my SOL in my Casino wallet.

Do you the link to the news about ETH 2.0 off the table? What will happened to the stake tokens for ETH 2.0?

[MFahad]

No doubt there is some problem in Solona network especially Security and congestion issue. their team should look for best solution to solve early these problems otherwise they will lose interest of big projects. Eth 2.0 will be big News for Etherium because I read somewhere that fee will be down to 0.05 and I think this is very low. I find sol best than any other ecosystem except Etherium.

[BitcoinHodler]

it is funny when people don't remember how ETH chain has also gone down multiple times, many of it were during 2017 when they were superpumping it and the nodes kept failing since their buggy centralized apps couldn't handle the small traffic rise.
the only thing ETH 2.0 is going to change ins the wealth of the wealthiest and ETH chain will keep going down possibly even more because it would put more pressure on already centralized nodes that they can not handle.

[pawanjain]

I am a long term Solana holder but right now I am feeling kind of worried due to the frequent issues in the Solana blockchain.
I am holding SOL for more than a year now and may be I will hold it longer but if these downfalls keep occurring I might have to reconsider holding SOL.
ETH is definitely a good option no doubt in that but it's good to have a diversified portfolio which was the reason of me buying SOL.
I am not really sure which other options to consider for a long term other than BTC and ETH.
All seems hyped up in a short term.

That's the problem with network and congestion due to all the minting of NFT's have cause more problems for SOL network which they need to solve somehow.This time again it took long to solve and the tps was around 1500 far below what they have promised and is capable of.

They do not have 65k TPS like they claim they do, that is the difference and that is the issue. You have to realize that the best case for SOL right now is to avoid any more further promises because if they keep promising something then we are not going to see anything get done with the previous promises since they weren't even covered.

What we need right now is the profits it could make in the future, and that will only happen with fixing the problems of today. Or the better option is to actually let it be and that way you will be able to just focus on ETH 2.0 or anything else, and make a profit, or even some other coin/token instead of SOL because they keep failing all the time.

Right now, almost every coin is just keeping on falling. So the best thing to do right now is stay low from investing and wait for a reversal.
We don't know if SOL will be able to get back stronger when the trend reverses. So it's better to wait until then.
If SOL does increases in price faster than other coins in future then may be we can consider holding SOL.
Otherwise it will be better to invest in other coins.

[Victorik]

ETH is the biggest layer one protocol. Apart from the gas fees, ETH is the best out there. If they can get with 2.0 onboard, you will see that a majority of projects will come back to ETH.
As for sol, they are really not ready yet. It will take them a while to get it right.

[lobo13hf]

Ethereum will not always become the solution. The wrong thing from your tittle is when you are mentioning ethereum 2.0 and you didn't watch the news about that. No eta for the scalability upgrade for ethereum to come. It may be end of this year or next year but you must remember that if this upgrade didn't guarantee if ethereum will become scalable enough like another blockchain. It's better to stick into the another blockchain like terra luna or avalanche

[Jackl87]

Personal Openion I don't preffer Sol or any other network above ETH. ETH provide Sustainability, Transperency, Secure Transections, A massive Network qith Most of Dapps and Base of all the Decentralized Finance. Transections Cost is the only issue with ETH network hoping to be fixed someday but things are much better now compared to last year.

I think the main reason why the transactions costs are not as high at the moment as they were a year ago or so is the fact that the there is just not so much traffic on the Ethereum network at the moment. As soon as there is a big news coming or a big pump or dump happening the transaction price will go above 100gwei pretty fast. The past has shown that. That being said i am still a big fan of Ethereum and it's network even though i don't own any ETH myself, but Ethereum just paved the way for all those other smart contract platforms that are existing today.
Regarding Sol and it's bugs. It seems like those events never really have a big impact on the price of Sol which is weird.

[yhiaali3]

We are eagerly waiting for the Ethereum 2 upgrade, as you mentioned, the only problem with the Ethereum network is the high fees, so if this problem is resolved with the expected upgrade, I think we will see traffic and most applications return to the Ethereum network, the reason is known, of course, most users have great confidence in the Ethereum network Unlike the rest of the networks that have been found to solve the problems of slow and high fees, Solana network, Polygon, Arbitrium and others have problems constantly and does not have the power or capabilities of the Ethereum network.

[Captain Corporate]

Maybe we should stop comparing all these "new" projects to ETH? When will we learn that projects can sustain and go for a long time as being their own without competing against ethereum? I mean isn't it clear that ETH will never be passed by another coin unless ETH starts to fall and drop itself? If something happens to ETH and it becomes a terrible project for some reason, which I doubt it would ever do something like that, never in a million years, then I can see it. Until that time, let's take a look at SOL, AVAX, MATIC, DOT and whatever else that people compare with ETH, just individually. Are they good? Would they help you in any way? If so then they are good, if not then they are not. Simple as that, remove ETH from the equation.

[DeathAngel]

I was convinced SOL could be an ETH killer. I was planning on spending a few thousand dollars on it when bitcoin bottoms (in 6 months or so). I am not impressed though, this is what, the third time SOL network goes down?
I need to look for something else to invest in.

[Abiky]

That should show you how much of a joke most of the coins in the market really are when a coin like Solana can get so high in the rankings despite having such critical issues.

Right now I am taking a look at the top 10 coins and if I leave out bitcoin out then I only see centralized stable coins, centralized coins and some coins in which I will never invest any money, the only other coin that could be considered to be any good is ethereum, and even ethereum has its fair share of issues which I cannot completely ignore.

There's a reason why altcoins are called "shitcoins". That's because they can't match Bitcoin's level of decentralization, reliability, and censorship-resistance. It's not about what shiny new features a coin has or how cheap and fast transactions are, but rather how secure and resilient the coin is as an alternative to the existing banking system. With a stable and reliable blockchain network, people can transact comfortably just like they would with an ordinary bank (or even better).

Who would want to rely on an unstable blockchain like Solana for sending large amounts of money? The more the network outages, the more people will distrust Solana. Developers need to take things seriously if they want the project to succeed in the long run. The first step towards a better future is eliminating the risk of centralization. Otherwise, Solana won't last for long. With many disappointments surrounding SOL, it's likely people will switch back to ETH once the PoS upgrade comes into effect. Who knows if the same will happen with other altcoins with smart contract features? Just my opinion

[wxa7115]

I was convinced SOL could be an ETH killer. I was planning on spending a few thousand dollars on it when bitcoin bottoms (in 6 months or so). I am not impressed though, this is what, the third time SOL network goes down?
I need to look for something else to invest in.

You avoided a bullet, years ago many people were always claiming that their favorite coins were the next bitcoin, however since then bitcoin has shown to everyone that most likely it will always remain the king of this market and no coin will ever surpass it.

So now we have a lot of coins challenging ethereum, and while the position of ethereum as the second best coin in the market is not anywhere near as secure, the truth is that the advantage it has over its competitors is very large and I do not see it being surpassed anytime soon.