The founder of Fantom, Andre Cronje, saw the Solana network as a victim of its own popularity. Despite the recent network transaction problems, Fantom founder Andre Cronje has expressed support for the Solana network. One of the most important thought leaders in decentralised finance (DeFi) is Cronje.
Some critics blame Solana for the continuous congestion, but the co-founder wrote in a message on the social media site X that the ecosystem’s explosive expansion is to blame for the growing demand for block space. Performance problems are technological difficulties, not defects in the consensus process, according to Cronje.
On April 4, about 75% of non-vote transactions failed on Solana because to a spike in traffic brought on by the recent memecoin frenzy, according to Dune Analytics. Yet, supporters contend that a misunderstanding of the data exists. Cronje called the Solana network a victim of its own success. Following a surge in transaction failures, Solana users have been vocal on social media, complaining about poor user experiences and unsuccessful transactions.
People frequently praise blockchain technology for its core principles and capabilities,according to other community members who agreed with Cronje’s position. But even while consumers want more usage, they often respond badly when transitory problems with the user experience caused by greater demand arise.
However, the CEO of Solana Anatoly Yakovenko voiced his displeasure, pointing out that fixing congestion bugs is more difficult than having complete liveness failure. Rapid deployment is hampered by congestion flaws, which necessitate a protracted testing procedure and update release, in contrast to the latter, which only needs to be identified and patched.
Solana has fallen more than once before. An important outage occurred in Solana at the beginning of February 2024. The network’s block advancement was stopped for more than five hours due to a breakdown in block production on its mainnet.
There have been approximately six major outages and fifteen partial or primary outage days in Solana since January 2022. Anza, a software development company based in Solana, published a postmortem report on the most recent outage on February 9.
According to the paper, a fault occurred in Solana’s Just-in-Time (JIT) compilation cache, which compiles all programmes before carrying out a transaction. Head of strategy at Solana Foundation Austin Federa announced that a new loader system will take the place of the outdated one and be activated with the release of an update. After a 45% increase in value the previous month, Solana’s price has dropped by about 3% in the recent week. According to CoinGecko data, following a recent weekly decline, its market capitalization has dropped to $89 billion, placing it back as the fifth-largest cryptocurrency.