Solana Blockchain Congestion Delays Crypto Launches

Intermittent congestion on the Solana blockchain has prompted delays in various crypto projects. Solana engineers aim to resolve the issue by April 15th. The congestion has caused concerns among users, leading projects like Match, DuckCoin, and Surge Finance to postpone launches until the issue is resolved. Solana co-founder Raj Gokal attributes the transaction failures to scalability issues rather than consensus system flaws.

Solana Blockchain Congestion Delays Crypto Launches

Intermittent congestion on the Solana blockchain has hindered several crypto projects, prompting postponements of their launches. Solana developers have stated that they anticipate resolving the issue by April 15.

Users of the Solana blockchain have reported escalating concerns regarding network congestion and transaction delays over the past several months. New projects, especially those planning token launches, have opted to delay their launches until the ongoing issues are resolved.

Notable Solana projects that have been awaiting a resolution to the congestion include Match Up, a non-fungible token (NFT) platform; DuckCoin, an altcoin project; and Surge Finance, a Solana staking rewards system.

On April 6, Anza, a Solana-focused software development company, outlined its plan to address the network congestion on its Solana validator client implementation, Agave.

Initial investigations suggested that challenges surrounding the implementation of QUIC, a general-purpose transport layer network protocol, were the root cause of the issue. The developers stated:

"Anza engineers, along with other core contributors, have been working around the clock to diagnose and address bottlenecks and increase network performance. Expect further enhancements and changes to roll out over the coming months."

At the time of writing, users have reported experiencing delayed transfers of Solana (SOL) tokens on the cryptocurrency exchange Coinbase.

According to the incident report, Solana has been investigating the issue for approximately 8 hours. However, the issues do not affect trading and fiat withdrawal and deposit functions.

Solana co-founder, Raj Gokal, previously stated that "the failed transactions on Solana blockchain have absolutely nothing to do with scalability."

Amidst growing criticism over transaction failures, Fantom founder Andre Cronje has expressed support for the Solana community.

According to Cronje, the ongoing congestion on Solana stems from the ecosystem's rapid growth, which has increased demand for block space. Cronje emphasized that performance issues are complex challenges, not consensus system flaws.

Cronje described the Solana team as "champions of achievement." The uptick in transaction failures was followed by a renewed outcry from Solana users on social media, who complained of failed transactions and a degraded user experience.

Separately, a new report has revealed that a significant portion of Base meme coins are scams or have security vulnerabilities. According to the report, one in six new Base meme coins are scams, while 91% have at least one vulnerability.