Solana has not been hacked but there have been many network crashes due to overload, solana developers are not uninterested, I think they still have not found a solution to fix it. Apart from low transaction fees and outstanding speed, sol is nothing short of outstanding when compared to other blockchains. Sol is backed by several major VCs so it created hype in 2021 and now it is getting back to its real value.
Compared to ETH and ADA, Sol needs to try harder to catch up, not looking at the inflated price but taking it as a measure of who is better. Time will be the most accurate measure.
I'd say the Solana network is flawed by design. It may've never been hacked, but it's completely unreliable for day-to-day payments because of the constant network outages. I guess that's what happens when decentralization is sacrificed in favor of high performance and cost-efficiency. If I'm not mistaken, the same thing happened with IOTA some time ago where the network came almost to a halt. People should be careful putting large amounts of money on these chains due to their highly-unstable nature. What's funny is that SOL is still the 9th largest cryptocurrency by market cap, even thought it's been a victim of several network outages during the course of 2022. Not like IOTA where it went all the way down the drain after the outage. I believe whales are keeping Solana afloat, to help benefit themselves in the long run.
At least, the cryptocurrency's code is open for anyone to review, modify, and/or redistribute. If the project fails, there's nothing stopping you from modifying the code to make it better. Who knows if we get to see a new fork (Solana Classic?) which puts decentralization/security/reliability above all else? Just my thoughts
