Solana Advocate Accuses Polygon Blockchain of Centralization December 7, 2022 December 7, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsDecember 7, 2022 by Kelly Cromley

Solana Advocate Accuses Polygon Blockchain of Centralization

On Twitter, Mr. Mumtaz dispelled the “VC chain” myth about the Solana (SOL) environment and charged Polygon Network (MATIC) of centralization. The leaders of Polygon acknowledged his remarks. Polygon (MATIC) is 100 times more centralized than Solana (SOL), according to Helius’ Mumtaz. Mumtaz added that Polygon (MATIC) is incentivizing users to use its dApps via monetary inflows. In addition, he charged Polygon (MATIC) of having an aggressive acquisitions program.

Then, he said that Polygon (MATIC) secured far more money from VC companies throughout many rounds. As per him, Polygon (MATIC) obtained $451 million from 48 venture capital companies, whilst Solana (SOL) received just $315 million from 38 investors. Mumtaz feels that Polygon (MATIC) is more centralized than Solana (SOL) since its validator group is relatively small than that of its rivals. Supposedly, this enables its core staff to halt the blockchain at any moment.

In addition, the CEO of Helius remembered a tweet from Polygon’s investment chief, who declared that the company had invested more than $500 million in Web3 firms. Lastly, he remembered a tweet from 2021 by a DeFi programmer about Polygon (MATIC) activating its closed-source hard fork without alerting anybody.

The co-founder of Polygon, Sandeep Nailwal, chose to respond to these allegations. He emphasized that the tremendous curiosity in Polygon (MATIC) shouldn’t be related to the team’s claimed financial support. The fact is that every brand wants to develop on Ethereum and not rely on incomplete L1s. Polygon is only a channel for them to gain access to Ethereum.

He referenced Polygon’s cooperation with Reddit to demonstrate that it is difficult to get the world’s leading social media network to utilize anything as a technological foundation by financial incentives. In 2021 and 2022, recurrent Solana failures rendered the network inoperable. The network was rebooted many times by its crew.

Nailwal has offered estimates demonstrating that Polygon (MATIC) is less reliant on VC funding than Solana (SOL). Lastly, he noted 50+ Solana (SOL) network endeavors that “pinged” Polygon (MATIC) developers to request help for porting to its blockchain. Importantly, in May 2022, Sandeep Nailwal referred to Avalanche (AVAX) as “a total disaster” and criticized the subnets idea of Avalanche.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.