Gavin Wood believes that the crypto market could see further downside, after losing $1 trillion in the recent bloodbath. In response to this price drop, cryptocurrencies such as Solana, BNB, XRP and Cardano may also dive, he says.
The Ethereum co-founder has predicted a Solana market crash by making a negative statement on his outlook, saying the Solana blockchain is slow to foster bearish sentiment among investors. To this, the Ethereum co-founder has issued a warning to altcoin holders on the drop in the price of Solana.
The spectacular fall in LUNA has created suspicion among crypto investors and created fear among holders. Adding to this, Solana Gavin Wood believes that the price of Solana may swing sharply in response to the volatility of the crypto market.
Solana is facing not only market downturn but also operational issues which are slowing down its market.
Solana’s team announced on 28 May at 3.34 UTC that the blockchain clock was running 30 minutes behind the clock. While this slow block time negatively affects rewards, the status update reveals:
“On-chain timekeeping is running about 30 minutes behind the wall clocks, due to longer block times than usual. Although this has no impact on performance or network operation, the time wall clocks reported by Block Explorer and Dapp The clock may not reflect the time.”
By design, the Solana blockchain has blocks of 400 milliseconds by time, with an average time of 1 minute of 659 milliseconds.
In block time this translates to a disparity with slower clocks, reducing Solana’s wager rewards. Years with blockchain delays are rather short at 182 epochs.
Furthermore, Gavin Wood at the World Economic Forum in Davos stated that:
“I hope people will pay more attention to the name of currency when it comes to the community, the ecosystem, the economy. Technology cannot stop people from making mistakes, but it can help those who understand the facts of the world better.” Want to understand what they are buying.