Solana

Redacted

<ul>
 <li><strong>Edward Snowden criticizes Solana for its dependency on venture capital and how it threatens the decentralization of blockchain.</strong></li>
 <li><strong>Snowden emphasizes the importance of decentralization as a safeguard against the misuse of AI for surveillance.</strong></li>
</ul>
<p>Edward Snowden, a staunch advocate for privacy and individual freedoms, has once again sounded the alarm during a speech at the Redacted Conference organized by Near. His target this time: <a href="https://www.ethnews.com/dogen-dogen-analyst-update-dogen-on-track-to-hit-12-while-polkadot-dot-eyes-10-and-solana-sol-targets-500/" rel="noopener noreferrer nofollow">Solana</a>, one of the heavyweight platforms in the blockchain industry. Snowden describes Solana as a project encumbered by the heavy influence of venture capitalists, which he argues could undermine the foundational principles of blockchain technology.</p>
<h2 id="a-prison-born-blockchain">A “Prison-Born Blockchain”?</h2>
<p>Snowden explains that although Solana is recognized as technologically advanced and promising, it has been overly dependent on venture capital from the outset.</p>
<blockquote>
 <p>“They sold their soul to venture capital,”</p>
</blockquote>
<p>Snowden stated,</p>
<blockquote>
 <p>“and this limits the capabilities of the blockchain significantly.”</p>
</blockquote>
<p>Solana’s decision to prioritize efficiency and performance led to a centralization of its governance structure, further exacerbated by venture capitalist involvement.</p>
<p>This issue is not isolated to the world of cryptocurrencies. Snowden brings up the example of Andreessen Horowitz (a16z), a major venture capital firm, which has significantly influenced other blockchain projects like Uniswap. a16z achieved this by mobilizing millions of tokens to sway strategic decisions. <a href="https://www.ethnews.com/bitcoin-gets-snowdens-seal-of-approval-deemed-the-most-significant-monetary-innovation/" rel="noopener noreferrer nofollow">Snowden</a> views this as a threat to the basic principles of blockchain governance, giving large investors disproportionate power.</p>
<h2 id="decentralization-the-last-defense-against-ai-surveillance">Decentralization: The Last Defense Against AI Surveillance?</h2>
<p>Beyond Solana, Snowden points out the urgent need to defend decentralization, especially in light of the increasing use of artificial intelligence for mass surveillance.</p>
<blockquote>
 <p>“They want to monitor everything, analyze every movement in real time, and identify anyone who deviates from the norm,”</p>
</blockquote>
<p>Snowden warns. According to him, true decentralization provides necessary protection against such intrusions, making control less susceptible to manipulation by both governmental and private entities.</p>
<p>Additionally, Snowden advocates for the adoption and use of open-source technologies to maintain independence from tech giants and protect individual freedoms. Open source, he emphasizes, allows everyone to utilize technological tools without fear of third-party intrusion. These technologies are not merely tools, but a shield against the centralization and control of information by AI.</p>
<div class="cryptoboxes" id="mcw-12347" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-chartcoin="SOL" data-chartcurrency="USD" data-chartrate="1.000268" data-charttype="chart" data-chartview="day" data-charttheme="light" data-chartsmooth="true" data-chartareacolor="" data-chartbgcolor=""></div>
</div>
<p>The post <a href="https://www.ethnews.com/snowden-issues-warning-solana-caught-between-innovation-and-venture-capital/" rel="noopener noreferrer nofollow">Snowden Issues Warning: Solana Caught Between Innovation and Venture Capital</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.</p>

Snowden Issues Warning: Solana Caught Between Innovation and Venture Capital

Table of Contents

ETHNews

Other articles published on Nov 11, 2024

Is It Too Late To Buy HAPPY? HappyCat Price Soars 184% And This Might Be The Next Crypto To Explode

Clear regulatory guidelines from Indian Govt. Essential for Trust in Crypto

Altcoin Mania Returns: Top Tokens to Watch This November

Sam Trabucco to Forfeit $70 Million in FTX Bankruptcy Settlement Claims

XRP Rises On Market Optimism: Price Predictions And Trends

Canaan Secures Major Deal with HIVE for 6,500 Bitcoin Miners

Join our free newsletter for daily crypto updates!