|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Solana Blockchain Jams Up, Stalling Crypto Project Launches
Apr 09, 2024 at 04:53 pm
Intermittent congestion on the Solana blockchain has led to transaction errors and project launch delays. Developers are aiming to resolve the issues by April 15th, citing problems with the QUIC implementation as a potential cause. Solana co-founder Raj Gokal maintains that the congestion is not related to scalability, while Andre Cronje attributes it to rapid ecosystem growth. Users have reported delayed transfers of SOL on Coinbase, but trading and fiat transactions remain operational.
Solana Blockchain Congestion Forces Projects to Delay Launches
The Solana blockchain has been experiencing intermittent congestion, leading to increased transaction errors and network delays. This has prompted several crypto projects to postpone their launches while developers work on a solution.
The issue has been affecting users for several weeks, with reports of slow transaction processing times and a high rate of transaction failures. As a result, projects such as the non-fungible token (NFT) project Suit up, altcoin project DuckCoin, and Solana staking rewards platform Surge Finance have delayed their launches until the technical difficulties are resolved.
Investigations conducted by Solana developers have identified issues related to the implementation of QUIC, a general-purpose transport layer network protocol, as a potential root cause. The developers have been working diligently to address the bottlenecks and improve network performance.
"Anza engineers, along with other core contributors, have been working around the clock to diagnose and remedy bottlenecks and increase network performance," said Anza, a Solana-focused software development shop. "Expect more improvements and changes to roll out over the coming months."
At the time of writing, users have reported experiencing delays in sending Solana (SOL) tokens on the crypto exchange Coinbase. The exchange's incident report indicates that Solana has been investigating the issue for over eight hours. However, the problems do not affect trading or fiat withdrawal and deposit functionality.
Solana co-founder Raj Gokal has previously stated that the transaction failures on the blockchain are not related to scalability issues. Amid concerns about the high failure rate, Fantom network creator Andre Cronje has expressed support for the Solana network.
According to Cronje, the congestion is primarily attributed to the ecosystem's rapid growth, which has significantly increased demand for block space. He emphasizes that the performance challenges are technical in nature and not related to flaws in the consensus mechanism.
Cronje views the Solana network as a victim of its own success. The recent surge in transaction failures has sparked complaints from Solana users on social media, who have voiced their frustrations over failed transactions and a degraded user experience.
Despite the current challenges, the Solana ecosystem continues to attract attention from developers and investors. The network's high throughput and low transaction fees have made it a popular choice for decentralized applications and crypto projects. However, the ongoing congestion highlights the need for continuous improvements and optimization to ensure a reliable and scalable platform for the growing number of users.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- LEGO Horizon Adventures and LEGO Star Wars: The Skywalker Saga Might Be Two Sides of the Same Coin
- Sep 27, 2024 at 08:55 am
- At first glance, LEGO Horizon Adventures and LEGO Star Wars: The Skywalker Saga both seem like similar LEGO projects.
-
- Reservoir: The Essential Toolkit for NFT Developers
- Sep 27, 2024 at 08:55 am
- Reservoir is a versatile platform tailored for developers building NFT applications and marketplaces. It offers an array of tools to facilitate seamless NFT trading
-
- Bitcoin (BTC) Outshines Every Main Asset Class This Year, Predicts $2.9M BTC Price by 2050: VanEck Report
- Sep 27, 2024 at 08:50 am
- Bitcoin is up by 141% within the last 12 months: Source: Brave New Coin Bitcoin Liquid Index As of September 26th 2024, Bitcoin has seen its worth surge by 141% over the
-
- The Best Things to Invest in Right Now: Alternative Ways to Invest in Bitcoin
- Sep 27, 2024 at 08:50 am
- If you're looking for the best things to invest in right now, sorry, but the Bitcoin train has long left the station.
-
- 4 Unmissable Cryptocurrencies That Are Dominating Headlines
- Sep 27, 2024 at 08:35 am
- If you’re poised to make your mark in the crypto market, this is the moment to explore some of the most electrifying coins currently stirring up the scene.
-
- WBTC Supply on Aave Hits All-Time High Despite Backing Anxieties
- Sep 27, 2024 at 08:35 am
- Wrapped Bitcoin (WBTC) supplied on decentralized lending platform Aave hit an all-time high despite anxieties around the Bitcoin (BTC) wrapper's backing
-
- Phantom Wallet Is Now on Dydx, Enhancing User Access
- Sep 27, 2024 at 08:35 am
- Dydx has announced its integration of the Phantom Wallet, a leading Solana-based non-custodial wallet, into its decentralized finance (defi) platform.
-
- As Ethereum Approaches the $10,000 Mark, Shiba Inu (SHIB) and ETFSwap (ETFS) Emerge as Promising Investment Opportunities
- Sep 27, 2024 at 08:35 am
- As Ethereum approaches the $10,000 mark, investors are eager to explore promising opportunities in the crypto market. Shiba Inu (SHIB) and ETFSwap (ETFS), are the front-runners owing to their potential for growth and investment appeal in this dynamic landscape.
-
- STX Price Rallies 30% as the Nakamoto Upgrade Approaches
- Sep 27, 2024 at 08:35 am
- STX, the native token of the Bitcoin-focused Stacks layer-2 smart contract platform, is riding on Bitcoin's recovery, up approximately 30% over the last seven days.