Re:Why Solana Was Decimated by Bankman-Fried’s Downfall
by rcxdude on Thursday December 29, 2022 @05:19AM
(#34171214)
As opposed to bitcoin where you need to be able to purchase a large quantity of hardware to have any chance of contributing to validation?
Re:Why Solana Was Decimated by Bankman-Fried’s Downfall
by darth_avocado on Thursday December 29, 2022 @01:58PM
(#34176381)
I don’t need 100k to get started.
Re:Why Solana Was Decimated by Bankman-Fried’s Downfall
by Veen on Thursday December 29, 2022 @08:00AM
(#34172183)
It takes 32 ETH to be a validator.
Re:Why Solana Was Decimated by Bankman-Fried’s Downfall
by darth_avocado on Thursday December 29, 2022 @01:58PM
(#34176392)
Ohh yeah my bad. You’re correct, and it makes it even worse.
Because it takes money to have enough ETH to be a validator and therefore, you centralize. It takes 20ETH to be a validator, and at the height of ETH valuation, that roughly translated to about $100k. Not everyone has that kind of money to stake. Plus, it is well know that majority of ETH or any crypto for that matter is held by a small group of people, which further pushes centralized operations.