Just as the world was turning to the crisp fall of 2022, one of the largest functional blockchains went down. - blockchain web3
This wasn’t the first time either — Solana has had its fair share of downtime over the years, particularly this year.
Blockchain scalability in general has been one of the conversations for years now. With more and more startups wanting to use blockchain for more than crypto, it’s become clear that the technology must be able to facilitate adoption for the masses.https://commons.wikimedia.org/wiki/File:Bust_of_Satoshi_Nakamoto_in_Budapest.jpg
Hence why the Nakamoto Coefficient is considered an important metric — if you can measure how decentralized a chain is, you can get a better idea of how secure it is. Unfortunately, it is rather hard to calculate — as it requires metrics spanning from nodes, developers, miners, and more. Blockchain relies heavily on one thing — consensus. In fact, this is what makes blockchain very different from a distributed database; its ability to contain a mechanism to autonomously essentially make decisions on what data/state changes to include.
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