Andre Cronje, the creator of Fantom network, has shown his support for the Solana network despite recent transaction failures. Cronje, a prominent figure in decentralized finance (DeFi), believes that the ongoing congestion issues on Solana are a result of the network’s rapid growth, which has led to an increased demand for block space. He emphasizes that these performance issues are technical challenges and not flaws in the network’s consensus mechanism.
According to data from Dune Analytics, approximately 75% of non-vote transactions on Solana failed on April 4, driven by the recent memecoin craze. However, there is a misconception surrounding this data, according to proponents of Solana. They argue that the situation is a result of the network’s success being misinterpreted.
Cronje referred to Solana as a victim of its own success, as the increase in transaction failures led to frustration among Solana users who took to social media to express their dissatisfaction with the network’s performance.
Many members of the community supported Cronje’s viewpoint, highlighting the fact that blockchain technology is often praised for its principles and capabilities. However, when increased demand leads to temporary user experience issues, people tend to react negatively, despite their desire for higher usage.
Solana CEO Anatoly Yakovenko expressed his frustration, noting that addressing congestion bugs is more challenging than dealing with total liveness failure. While the latter requires identification and patching, congestion bugs involve a lengthy testing process and the release of updates, which hinders rapid deployment.
This is not the first time Solana has faced issues. In early February, the network experienced a significant outage, with block production on its mainnet halted for over five hours. Since January 2022, Solana has encountered several major outages and multiple days of partial or primary outages. A postmortem report by Anza, a Solana-focused software development firm, revealed that a bug in Solana’s Just-in-Time (JIT) compilation cache was responsible for the recent outage. Plans are underway to replace the old loader system with a new one to prevent similar incidents in the future.
The price of Solana’s token (SOL) has dropped by approximately 3% in the past week, following a 45% rally in March. As a result, it has slipped back to being the fifth-largest cryptocurrency by market capitalization, according to CoinGecko data.
In other news, a team of white hat hackers called ‘SEAL 911’ has been formed to combat crypto hacks in real time.