PANews, May 9 - Armani Ferrante, founder of Backpack, responded on platform X to a discussion by Solana co-founder toly, stating that if validators are permitted and identifiable, once the value of the chain is sufficiently high, it can easily be controlled by nations or powers, ultimately evolving into a 'national version of NASDAQ', with each country operating separately, such as China, the US, and Europe. Ferrante pointed out that in this case, even if it appears to have a virtual machine (VM) overlay, from a security perspective it is merely 'makeup'; the essence would still be a traditional financial (TradFi) system, but with poorer asset quality, lower efficiency, and greater user dissatisfaction.
