- Snowden criticized Solana again.
- Venture capital funding is cited as a problem.
- Solana has been the target of criticism due to its centralization.
Blockchain technology has long been a pillar of privacy and digital freedom. However, centralized entities are gaining more influence in this space. Recently, digital freedom advocate Edward Snowden reiterated these concerns.
In recent public appearances, Snowden criticized centralized networks and venture financing. In particular, he once again singled out Solana in his criticism.
Snowden blames Solana for VC influence
Solana has once again been criticized for its perceived centralization. On Monday, November 11, Edward Snowden spoke at Near’s (redacted) conference in Bangkok. He criticized venture capital’s involvement in blockchain technology, singling out Solana.
While Snowden acknowledged Solana’s performance and scalability, he also pointed out the network’s centralization. “We are absolutely more centralized than our competitors,” he said. To prove his point, he mentioned that the entire network was down at several points.
Snowden suggested that Solana was “born in prison” with significant venture capital backing. He mentioned Sam-Bankman Fried, former CEO of FTX, who was a major investor in Solana. Fried was subsequently jailed on fraud charges in the FTX bankruptcy.
Bitcoin wouldn’t exist without decentralization: Snowden
According to Snowden, billionaire venture capitalists are betraying the core values of cryptocurrencies. “They want to invest in something. They want it to be regulated, they want it to be controlled,” he explained. “They want it to work for them and I think that’s completely wrong,” he added.
This is why decentralization is not high on the priority list, Snowden argued. He acknowledged that centralization has performance benefits, but explained that this only applies in good times. But the benefits of decentralization only become apparent in difficult times.
In particular, he believes it is “clear” that Bitcoin would not exist today if it were centralized. The government would have prevented this, he explained. For the same reason, Snowden argued that artificial intelligence should also be decentralized.
On the flip side
- This is not the first time Snowden has criticized Solana. At the Token2049 conference in October, he highlighted Solana’s excessive preference for performance over decentralization.
- Snowden also raises issues that centralized networks struggle with. potential attack From the government.
Why This Matters
Snownden’s critique raises important questions about blockchain and the widespread centralization of technology.
Read more about Snowden’s early criticism of Solana.
Snowden held Solana’s centralized approach to blockchain as a beacon.
Learn more about Solana’s recent achievements:
SOL broke the $200 barrier as blockchain activity reached its peak.