2024-4-9 11:59 |
The Solana network, known for its high throughput and low transaction fees, has been grappling with congestion issues throughout the weekend, causing transaction failures and delays.
Developers are working fervently to resolve these challenges and ensure a smoother user experience.
Meme coins activity surge on SolanaThe surge in meme coin activity on the Solana blockchain has exacerbated congestion issues, with thousands of meme coins being generated daily.
This influx of meme coins, coupled with the existence of multiple decentralized exchanges (DEXs) on Solana, has created a scenario where users attempt to exploit price differences between assets.
As a result, many transactions fail due to exceeding the slippage amount set by users, contributing to the overall congestion on the network.
Dune Analytics data reveals that approximately 75% of non-vote transactions failed on April 4, highlighting the severity of the congestion issues plaguing the Solana network.
However, despite the challenges, developers remain optimistic about finding solutions to improve transaction reliability and alleviate congestion.
Matt Sorg and Andre Cronje comes to Solana’s defenseAs developers rally to identify and address the underlying causes of the network congestion, Matt Sorg, a prominent figure in the blockchain community, emphasizes that transaction failures are not necessarily negative outcomes but rather a feature designed to protect users.
According to a post on X, Sorg stated that when transactions fail, it indicates that the network is operating as intended, as it rigorously checks transaction conditions to safeguard users.
Sorg acknowledges the current issues with transaction reliability, attributing them to variations in the ingest and scheduling phases. However, he reassures users that there are known solutions being developed by core developers and expects improvements to roll out soon.
On the same breath, Andre Cronje, the creator of the Fantom (FTM) network, also expressed support for Solana amid these challenges, referring to the network as a victim of its own success.
Seeing a lot of "I told you so's" against Solana, because *checks notes* Solana currently has so much demand for blockspace that they need to optimize some bottlenecks (which also btw, is just an engineering hurdle and not a fault of consensus or any critical component).
Victim…
Cronje explains that the congestion issues stem from the rapid growth of the ecosystem, which has led to increased demand for block space.
Despite transaction failures causing frustration among users, Cronje and other community members argue that they are a result of technical challenges rather than flaws in the network’s consensus mechanism.
On Saturday, Anza, a collective of Solana-focused developers, announced that Anza devs were working on several patches to mitigate the Solana network congestion issues. The announcement came after Anza shared a thread on X outlining the timelines and what to expect around what they are doing to address the current network congestion on Solana in their validator client implementation, Agave.
1/ Timelines and what to expect around what @anza_xyz is doing to address the current network congestion on @Solana in our validator client implementation, Agave.
The short version is: significant progress has been made to overcome the current congestion challenges, and we…
Additionally, Solana Labs is preparing updates to improve transaction scheduling and reduce bottlenecks, aiming to enhance user experience on the network.
Due to the congestion issues, the price of Solana’s native token, SOL, dropped to a low of $169 on on April 5. The token has, however, recovered and it was trading at $182.17 at press time, showing the impact of the measures developers are taking to address the congestion issues.
The post Fantom co-founder and Matt Sorg defends Solana amid network congestion appeared first on Invezz
Similar to Notcoin - Blum - Airdrops In 2024
Solana (SOL) на Currencies.ru
|
