- Helius Labs’ CEO raises concern over big companies being the leading Solana Validators.
- But one of Solana’s native validaters is part of the super minorities group.
Coinbase is a big corporation. Binance [BNB] The overwhelmingly dominant Solana [SOL] Validator eco-system Over 30,000 validator ecosystems exist. 1700 Solana validators22 control over 33% SOL total staked (superminority).
Mert Mumtaz, Co-founder and CEO of Helius Labs — a Solana developer platform for crypto investors, has raised concerns about this dominance.
Take a bite out of the corporate giant’s falsehoods “trust,” “security,” Helius Lab Executive has high fees called Users and investors should consider investing in native Solana teams.
“Large corporations generally give you some false sense of trust and security. Trust me when I say that Solana is complex enough that a Solana-native team can navigate uncertainty much better than any giant corporation.”
Problems with the top Solana Validators
Mert Mumtaz claims that the six largest corporations operating Solana Validators are charging an 8 percent commission. Mumtaz says that this is an expensive fee, when other options are available.
“Really don’t like that the top six validators on Solana are giant corporations instead of Solana-native team, need to change this. And they charge up to 8% commission. Stake with native teams, you are paying too much in fees”
Source: X/OxMert
He praised native Solana team validators such as Cogent, Laine and Overlock. He added that,
“You get a much higher yield with most Solana-native teams, so it’s literally safer, a better investment into the network, and a better return all at once.”
Solana Beach has a unique perspective on the matter. dataLaine, (Laine stakewiz.com), is one the Mumtaz’s teams that he tipped. She ranks among the top 22 validators.
That means it’s part of the super-minority that can theoretically censor the network if they collude—a critical centralization risk. It seems that Mumtaz’s goal is counterintuitive. “security” front.
SOL has reversed the post-network upgrade rally The price of the stock at time of publication was $133.
The $130 level was an important support for the bulls on higher-timeframe charts. If it drops below that level, bears could gain more leverage.
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Source: ambcrypto.com
