Transaction delays, canceled transfers and frustrated users — recent weeks have been challenging for Coinbase and its Solana (SOL) integration.
Coinbase users encountered significant delays in transferring Solana (SOL) tokens due to a surge in activity on the blockchain. Some transactions were canceled, and users faced delays of several hours or even days.
In response to the growing frustration, Coinbase CEO Brian Armstrong has promised to improve the platform's support for Solana.
Coinbase has triaged the Solana backlog, ensuring that transactions should now process more quickly. However, Armstrong acknowledged the need for deeper changes to scale the infrastructure and better handle the growing volume of activity on Solana.
Coinbase currently provides optimal support for Bitcoin, Ethereum, and Base, and Armstrong is aiming to offer the same level of support for Solana. He noted that the surge in activity is a "high-quality problem," and improving the infrastructure to meet such demand is a top priority.
The chaos began with a surge in transactions, particularly those related to a newly launched meme coin that gained attention in the crypto community. Users reported waiting hours, sometimes exceeding ten, for funds to transfer between their Coinbase accounts and SOL wallets. Canceled transactions and delays in deposits further fueled the frustration, leading to discussions on social media.
Some users questioned Coinbase's commitment to supporting Solana, given its affiliation with Base, an Ethereum-based layer-2 network, suggesting a potential conflict of interest. These speculations were amplified by calls for greater transparency around Coinbase's Solana holdings, with users seeking assurance that their funds were secure.
However, the issue may not be entirely with SOL. Other major exchanges were reportedly able to process transactions much faster, suggesting that the problem stems from Coinbase's infrastructure.
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