Part 8/10:
Wallets like Phantom gained traction, mirroring Ethereum's Metamask in the way they cater to user needs while avoiding hefty transaction fees, allowing Solana to stake its claim in the NFT market.
The Road Ahead: Decentralization and Its Challenges
Nevertheless, the conversation around Solana often leads back to the concept of decentralization. Critics point out that an insider ownership concentration could undermine its decentralization claim—a cautionary flag in an industry marked by a strong advocacy for trustlessness. The Nakamoto coefficient, a metric assessing how many entities need to be compromised to gain control of the network, stands reasonably well for Solana at 19. However, a significant percentage of tokens remains under the control of insiders.