Summary:
- One-third of Finder.com’s analysts are losing trust in Solana (SOL)
- They cite constant outages and other incidents as the main reasons for voicing their concerns about Solana
- 35% believe that the price drop experienced by Helium Network will deter other networks from moving to Solana
Finder.com’s team of panelists and analysts is slowly losing trust in the Solana project and its team. Key to their doubts regarding the future of Solana includes network outages and other incidents like the recent $661k loss by the SOL-based decentralized exchange known as OptiFi.
Some Panelists are Sitting on the Fence
But 37% of the panelists are yet to lose trust completely in Solana, with the remaining 30% being 50-50 on their outlook on Solana.
University of Brighton senior lecturer Paul Levy pointed out that Solana still has a positive future outlook despite the notable incidences. He said:
SOL is in recovery mode… Despite some well publicized technical failures [and] network outages it has a high reputation in the scientific community. Its problems will be short term and have been shared with many other players. It has a potentially positive longer term future.
Solana’s Outages Could be Due to Very Low Transaction Fees
Regarding the root cause of Solana’s constant operational issues, 22% of Finder.com’s panelists concluded that it could be the result of its low transaction costs, while 78% say the problems run deep.
MetaTope co-founder and vice president Walker Holmes explained:
We have seen users be burned in the worst ways, typically large amounts of centralization are at the heart of the problem. Solana hosts over 30% of all its nodes on AWS, this does not scale, this is not secure. I hope the community can work together to solve problems related to centralization in the Solana network and allow the network to evolve in a sustainable way.
Helium Network’s Price Drop Will Deter Other Teams From Migrating to Solana
Furthermore, the team forecasted that the recent 35% price drop experienced by Helium Network as it migrated to Solana could deter other projects from doing the same.
SOL Could Close 2022 at $35 and Hit $116 by 2025
Concerning price action, the team of panelists concluded that Solana could close the year at a value of $35 and even hit $116 by 2025.
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