Cyber Capital Founder Justin Bons has come out in defense of Solana (SOL) against its critics after the protocol survived months of network backlash. Through a series of posts on X, Justin Bons highlighted how he conducted several transactions with Solana, and how everything turned out well.
With a 100% success rate for his 20 transactions from Phantom Wallet, Bons reiterated the root cause of the transaction failure rate recorded earlier. He blamed spam bots for the Solana congestion menace which, according to him, does not reflect the real UX at all.
In his usual defense of Solana, Bons shared a chart he claims many people throw around that compares the success transaction rate versus those that failed. He noted that it is often misconstrued that the majority of transactions fail, as bot spams generally conduct “Double Spend” transactions. These transactions are correctly marked by the network as failed.
2/5) People throw around the bottom chart as if it means the majority of SOL TXs fail…
That is far from the truth, as bot spam is doing things like “double spends”
Which the network then correctly marks as “failed”
This is even clarified on the same Dune Analytics website! pic.twitter.com/702QoSPT0S
— Justin Bons (@Justin_Bons) May 29, 2024
Solana has had its fair share of criticism. Amid the heat of its network congestion and downtime, the protocol’s developer sprung to action to develop a working solution that was deployed on the mainnet weeks ago. While the efforts have yielded fruit and returned Solana to a better state with a strong transaction speed, criticism still abounds.
Justin Bons is an unusual supporter of Solana, considering he recently called out Cardano (ADA) for being highly centralized. According to him, the majority of the Cardano Genesis keys is under the control of Input Output Global (IOG), the parent company behind the protocol.
While this claim has been contested by Charles Hoskinson and other known Cardano associates, Bons has maintained his position. Despite this criticism, the Cyber Capital founder has made it a habit to review less popular projects he deems to have unique innovations relating to scalability and decentralization.
Two of the projects he has spotlighted in recent times include MultiversX and Near Protocol.
