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Defi Watchdog rates Solana as the second worst crypto project

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Defi Watchdog rates Solana as the second worst crypto project 4

Defi Safety rated Solana blockchain Network as the second worst blockchain Network because of several outages.

Solana is the biggest Proof-of-stake consensus-based blockchain network. Due to its unique Proof-of-history protocol, the Solana blockchain can process around 100k transactions per second hypothetically. Due to efficient network transactions, Solana’s native token Sol is standing at 9th rank, in terms of 24 hours trade volume. 

On 8 June, Defi Safety, an independent Defi Crypto project rating agency, shared the list of 240 Decentralized Finance (DeFi) protocols and 15 different blockchains with ratings.

Defi Safety listed these crypto projects in terms of node count and their diversity, supporting software, documentation, as well as testing, and security, to bring a more accurate rating level.

In the rating list of Defi Safety, Play to earn game Axie Infinity is the top worst project because of the March hack attack on its Ronin network, which resulted in the loss of around $600 million.

According to the rating agency, Solana is the second top worst blockchain Network. Agency indirectly dragged the network outages issues of Solana network.

The blog post noted that the base score of Solana is less significantly because of the other reasons, which include improper handling of archival node information, poorly designed block explorers, and unaudited node clients (software) with less diversity than competing blockchains.

More importantly, the Rating agency raised concerns about the Solana network’s node archival, or we can say the process of storing all of a blockchain’s data since its inception, in order to understand that how works.

The rating agency also noted that around a year ago, Solana co-founder Anatoly Yakovenko talked about it through a Reddit thread. Besides Solana co-founder, Austin Federa, head of communications at Solana shared his thought on these things with Decrypt and claimed that such things are not important things for the Solana blockchain.

“Solana does not require knowledge back to genesis to validate a block.”

Read also: Florida’s Achieva launches crypto trade app

Defi Watchdog rates Solana as the second worst crypto project

 

https://bitcoinik.com/defi-watchdog-rates-solana-as-the-second-worst-crypto-project/feed/

https://bitcoinik.com/defi-watchdog-rates-solana-as-the-second-worst-crypto-project/feed/

 

 

 

 

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