Failed Transactions On The Rise, Solana (SOL) Admits To Worsening Network Congestion

Solana, a public blockchain platform, issued a notice yesterday,  informing its users of a series of problems faced by its second network  that deteriorated performance on account of facing network congestion.

The report was released by the Solana Status Twitter account on 6  January, 16:11 UTC and a notice on the same was brought forward by  Binance today.

As a consequence of reducing the network’s throughput to “several  thousands of transactions per second,” withdrawals processes on Binance  via the Solana network have been affected, even causing some  transactions to fail, as stated by Coingape.

To remedy this to a certain extent, Binance (a leading cryptocurrency  exchange), alerted users that it may halt any new transaction requests  over the Solana network every once in a while. This will enable Solana  network to clear some of its clogging transactions for better  functioning.

The developers of Solana have announced they’re working to address the  issues confronted across the ecosystem. Nonetheless, it should be noted  such this isn’t their first brush with experiencing such troubles.

A similar incident had also occurred on 4th January, making this the second time that users come across the same issues.

Looking at the Solana Status account, we find that the earliest  happenstance of this kind took place all the way back in September, when  Solana blockchain slowed almost to a crawl due to a resource exhaustion  problem.

Investing notes that even Cyber Capital chief investment officer Justin  Bons vocalized his disapproval of Solana following recent events,  denouncing and informing twitterers that Solana is “consistently  displaying a pattern of bad behavior”

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Failed Transactions On The Rise, Solana (SOL) Admits To Worsening Network Congestion