Cyber Capital Founder Defends Solana Amidst Network Backlash

According to U.Today, Justin Bons, the founder of Cyber Capital, has defended Solana (SOL) amidst criticism following months of network backlash. Bons highlighted his successful transactions with Solana, attributing the earlier transaction failure rate to spam bots, which he believes do not reflect the actual user experience. He conducted 20 transactions from Phantom Wallet, all of which were successful. Bons also addressed a common misconception that the majority of Solana transactions fail. He explained that bot spams often conduct 'Double Spend' transactions, which the network correctly marks as failed. This, he argues, skews the perception of Solana's transaction success rate. Solana has faced criticism due to network congestion and downtime. In response, the protocol's developers have implemented a solution that was deployed on the mainnet a few weeks ago. This has improved Solana's state and increased its transaction speed, but criticism persists. Interestingly, Bons is a vocal supporter of Solana, despite his recent criticism of Cardano (ADA) for being highly centralized. He argues that the majority of the Cardano Genesis keys are controlled by Input Output Global (IOG), the parent company behind the protocol. This claim has been disputed by Charles Hoskinson and other Cardano associates, but Bons has stood by his statement. Despite his criticism of other projects, Bons regularly reviews less popular projects that he believes have unique innovations in scalability and decentralization. Recently, he has highlighted MultiversX and Near Protocol.