2024-12-1 17:36 |
The Solana blockchain community has voiced concerns about Coinbase, citing prolonged transaction delays for the network.
On social media platform X, screenshots shared by several Solana users revealed that transactions on the blockchain took up to 45 minutes to process. This delay was significantly longer than that of networks like Base, Algorand, Arbitrum, and Avalanche.
In response, Coinbase’s support attributed the delays to wallet maintenance or blockchain issues, implying that Solana’s infrastructure was the root cause.
This explanation sparked frustration within the crypto community, with some members accusing Coinbase of downplaying Solana’s capabilities in favor of its Base network.
Solana is the third-largest blockchain network behind Bitcoin and Ethereum, while Base is an Ethereum layer-2 network founded by the US-based crypto trading platform.
Solana community respondsProminent figures within the Solana ecosystem quickly addressed these claims.
Mert Mumtaz, CEO of Helius Labs, a Solana-focused RPC provider, explained that Coinbase’s internal indexing systems—not Solana’s infrastructure—were behind the delays.
Austin Federa, Solana’s Head of Strategy, echoed this sentiment. He dismissed Coinbase’s explanation and emphasized that the delays stemmed from internal technical issues at the US-based exchange. He said:
“Clear communications are extremely important and this one misses the mark…the issue has nothing to do with the Solana network, rpcs, or anything of the like. It’s a boring old internal system issue on the exchange side.”
Moreover, a community note was also promptly added to Coinbase’s support statement, highlighting that the exchange had faced unexplained Solana delays for months.
The note also compared blockchain performance metrics, showing Solana’s Time to Finality (TTF) at 12 seconds—significantly faster than Base and Arbitrum at 16 minutes.
Coinbase resolves issueOn its status page, Coinbase acknowledged the platform’s delays in processing Solana transactions but explained that the issues had been resolved as of Nov. 28.
Similarly, Andrew Allen, a Protocol Specialist at Coinbase, confirmed that the issue had been resolved. He stated:
“To summarize, Coinbase’s indexer issues impacting Solana Send/Receive were resolved ~5am this morning. The UI didn’t automatically update. But both underlying issue and UI fix have now been applied.”
Despite the resolution, some community members remained critical of the exchange and accused it of being unfriendly toward the network. However, Milk Road creator Kyle Reidhead urged the crypto community to appreciate Coinbase’s broader contributions to the industry rather than dwell on this issue.
The post Coinbase resolves Solana transaction delays, admits internal missteps appeared first on CryptoSlate.
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