Solana is supposed to be the fastest existing blockchain, with low gas fees. However, since the beginning, they have accumulated tons of problems: outages and DDOS, lack of decentralization for the blockchain itself and its main lending protocol Solend, fake TVL due to the manipulations of two brothers...
Have we already seen the worst or is it still to come? Stepn chose Solana initially. I thought it was good news, but finally Stepn users made more money on Binance BNB chain, and finally on Ethereum (ETH)... And now the users are progressively leaving this app, making Solana a bit more useless than it already was...
Helium Network recently decided to migrate from their own blockchain to Solana. It seems to be a good move for Solana, but reading between the lines, Helium did that because they have almost no user and it was too costly to maintain their own blockchain, whereas on Solana the fees are very low... Which means it will not increase a lot the SOL consumption.
That's the bad news for SOL. The gas fees are so low that all the applications they host will probably never compensate the high issuance rate of SOL, which means it is highly inflationary. It is the contrary of Bitcoin (BTC) and the post-merge ETH 2.0...
So, what is the future of Solana?
