- Snowden critiqued Solana again.
- Cites venture capital funding as a problem.
- Solana has been a target of criticism due to centralization.
Blockchain technology has long positioned itself as a pillar of privacy and digital freedom. However, centralized entities are gaining more influence in the space. Recently, digital freedom advocate Edward Snowden has again put this concern into the spotlight.
Sponsored
In a recent public appearance, Snowden criticized centralized networks and venture funding. Notably, he once again singled out Solana in his criticism.
Snowdenโs Slams Solana Over VC Influence
Solana once again drew criticism over its perceived centralization. On Monday, November 11, Edward Snowden spoke at the Nearโs [REDACTED] conference in Bangkok. He criticized venture capitalโs involvement in blockchain technology, singling out Solana.
While Snowden acknowledged Solanaโs performance and scalability, he also pointed out the network’s centralization. โIt is absolutely more centralized than its competitors,โ he stated. He mentioned that the entire network was down at several points to prove his point.
Snowden suggested that Solana was โborn in prisonโ due to its significant venture capital backing. He referenced Sam-Bankman Fried, the former CEO of FTX, who was a major investor in Solana. Fried has since ended up in jail for fraud over the FTX bankruptcy.
Without Decentralization, Bitcoin Wouldnโt Exist: Snowden
According to Snowden, billionaire venture capitalists are betraying the core values of crypto. โThey want to be investing in something. They want it to be regulated, they want it to be controlled,โ he explained. โThey want it to be something that works for them and I think thatโs absolutely wrongโ he added.
This is why decentralization is not high on their list of priorities, Snowden argued. While acknowledging that centralization has performance benefits, he explained that this only applies in good times. However, the benefits of decentralization become apparent only in bad times.
In particular, he believes that it is โclearโ that Bitcoin would not exist now if it were centralized. Governments would have stomped it out, he explained. For the same reason, Snowden argued, artificial intelligence also needs to be decentralized.
On the Flipside
- This was not the first time Snowden criticized Solana. At the Token2049 conference in October, he highlighted that Solana is overly favoring performance over decentralization.
- Snowden also raises issues with centralized networks suffering potential attacks from governments.
Why This Matters
Snowndenโs critiques raise important questions about broader centralization in blockchain and technology.
Read more about Snowdenโs earlier criticisms of Solana:ย
Snowden Torches Solanaโs Centralized Approach to Blockchain
Read more about Solanaโs recent performance:ย
SOL Breaks $200 Barrier as Blockchain Activity Peaksย
