Solana's a fine chain if you want to maybe make money (never know when those performance blackouts might hit next!), but as far as tech breakthroughs, it's a limited chain.
The primary reason: The only advantage web3/blockchain tech has over web2 tech of the same functionality is the potential for decentralization. That's it. Right now, there is no web3 tech out there or on a drawing board that isn't already fully available in web2.
And Solana's core protocol centralization (it's a centralized database AND runs on a centralized cloud server) kills that advantage for any tech that builds on top of it. It's really frustrating that the gigabrain devs building on Solana either don't get this or don't care. Let's talk about three protocols that are sure to betray you at some point if you use them (once they are built; there's no guarantee that will happen).
Streamflow
Streamflow is the enterprise version of Sablier, a value streaming protocol that underwrites the majority of defi yield farms. Sablier allows a steady flow of tokens from one wallet to another in crypto, and Streamflow promises to do this for fiat, I guess.
But it's built on Solana though. 🤣
Can you imagine a payroll officer in a 10,000 employee company relying on Streamflow for real time payments, and all of a sudden Solana has one of its famous random block production hiccups? What if it works just long enough for people to get used to it before it shuts down unexpectedly?
What's more, employers now expose their entire payment record history to the public and to government. Think of the debacle that happened during Tornado Cash — a jokester sent "tainted" ETH from Tornado Cash to accounts, and those accounts got blacklisted from using other important defi protocols. Contagion anyone?
Helium
Helium claims to be a decentralized wireless system that can work globally.
But it's built on Solana though. 🤣
One of the funniest tweets in a long time... https://twitter.com/aseidman/status/1569366750369546241
Ariel, how the fuck do you have a decentralized wireless network on a super centralized chain that can be sanctioned or stopped at any time with the flip of a single switch?
Elusiv
Elusiv incredibly claims to be able to provide privacy for payment services while being in "compliance" — doesn't say in compliance with whom, just in compliance. That's shady right there, but in addition...
But it's built on Solana though. 🤣
The second funniest tweet I've seen in a long time... https://twitter.com/TheCovePodcast/status/1569809216038178817
These clowns actually believe they'll achieve some kind of usable privacy while remaining in compliance with a system that demands full transparency from private citizens and a chain that can be sanctioned by this system at any point in time with the flip of a single switch. I wouldn't use this shit if you paid me.
There's just a whole lot of stupid going on in crypto/web3 right now. Thoughts?
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