Sam Bankman-Fried: Solana blockchain has come a long way and has great prospects

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The CEO of the FTX cryptocurrency exchange, against the backdrop of problems with the Solana network, recalled that the project had previously encountered failures and only became more successful after them.

Sam Bankman-Fried ininterview stated that Solana is undervalued by investors. According to him, the project, which faced a hacking of a wallet worth millions of dollars, will quickly recover. The businessman assured that blockchain has great potential and broad capabilities:

“SOL is now the most undervalued cryptocurrency. At least she was like this a month ago.”

 

According to the head of FTX, the hackers used one of the applications as a backdoor. The Solana project has overcome many difficulties in its life and will continue to develop further:

“Solana had a lot of bad PR, but the projectovercame it. I think he's already gone two thirds of the way. I’m confident that the remaining third will also pass successfully. Any blockchain would break if it tried to do what the Solana network did. This was a chance to figure out what needs to be improved and what needs to be improved.”

It should be noted that the headcryptocurrency exchange FTX is closely associated with Solana through several companies. Bankman-Fried invested in the project through his company Alameda Research. He also participated in the Solana Labs funding round worth $314 million and in the creation of the On Solana decentralized exchange called Serum.

This week, hackers gained access to thousands of wallets of Solana network users through the Solana Magic Eden blockchain platform for trading collectible tokens.