I remember when SOL emerged as one of the 'Ethereum killers'. They employ a delegated proof-of-stake and proof-of-history mechanism. The proof-of-history aspect is particularly intriguing, as it appears to address two out of the three aspects of the blockchain trilemma: speed and scalability. However, the 3rd trilemma security, seems to be a persistent challenge for Solana. Their impressive speed led to security breaches in September 2021 (bots spamming Raydium) and May 2022 (bots invaded the network).
Plenty of competitors in Layer 1 to start a party with. I would like to briefly compare Solana to AVAX, DOT and ADA (image 1,2). All of them are reliable platforms for developers, but Polkadot stands out for its excellent support services, including online assistance and webinars. Additionally, Polkadot is the only one among these platforms that offers layer 2 protocols. While all competitors have their flaws, Solana's issues have been primarily related to blockchain failures with significant consequences. I will discuss this further in the following comment. Considering the trade-off between speed and security, I perceive Polkadot as the middle ground among these options. Show Less
