Solana CEO and Venture Capitalist go at it on Twitter
Justin Bons is a Venture Capitalist that is not afraid to speak his mind. Lately the VC has turned his views towards Solana and he has not had the best of things to say about the blockchain, stating that the company is guilty of fraud, lies, and bad design. The Founder of Solana- Anatoly Yakovenko has had a bit to say about his views.
Mr. Bons is the founder of Cyber Capital , a fund manager and on July 22 he created a thread on Twitter discussing why he believed Solana was a low level blockchain, stating the design weaknesses to be the main issue, he also blamed the Solana founding team for blatant lies throughout the time of its being on the mainnet.
Bons accused the blockchain of lying about the amount in circulation stating that the total was 20M when Solana had stated it was only 8.2M tokens. Yakovenko stated that the issue had been resolved and if Bons had only read about it he would know.
“ In early April 2020, the $SOL team stated that the total circulating supply was 8.2M when in reality, the total circulating supply was above 20M”
To which Yakovenko replied
“ It happened two years ago and was resolved, go read about it on the Solana Medium blog, and you can come to your own conclusions if its relevant today”
Bons then went on to attack Solana on the amount of downtime the network has had.
“ Blockchains should never have downtime, yet SOL has gone down at least seven times since I first spoke out!”
“Bugs suck! Sometimes they take a whole release to address. The goal of decentralization is for the network to alway recover from catastrophic failure no matter the bugs”
Bons continued his rant against Solana speaking on the Transactions Per Second being subpar.
“Counting consensus mechanisms as transactions give no objective advantages and make SOL appear as if it has more transactions per second than it really has”
Yakavenko countered with
“People that latch on to the Solana counts votes as transations just have a deep misunderstanding of how the chain works and why. The runtime is so fast and optimized that its possible and cheapest to simply submit votes as actual transactions.”
The complaints Bons had for Solana reached up to 25 different tweets in the thread and Anatoly had a reply for all points. Many viewers of the twitter rant were quick to call Bons out for his views.
Anatoly and other users have taken steps to reply and debunk the claims of Bons as well.
Whereas Anatoly responded to it all in a thread himself.
Solana has had its fair share of criticism lately as the blockchain strives for a comeback after a brutal bear market and multiple network issues, the recent release of a newer version has the ability to fix most issues of the blockchain while introducing a gas fee structure for the first time in the lifespan of this new chain.