the blockchain Solana (SOL) has been facing challenges on its network with an increase in unsuccessful transactions and user dissatisfaction. Even as it works to fix current issues, in recent weeks, the Solana network has seen an increase in the number of failed transactions.
Solana network co-founder Raj Gokal commented on the current situation, explaining that the blockchain is working to improve users' transaction experience. In a post on Platform X on April 4, Gokal stated:
“World-class engineering teams are working around the clock to implement fixes that improve the transaction submission experience on Solana. I message them several times a day asking how it’s going, and they tell me this is a really helpful way to contribute to the solution.”
In the same sense, Anatoly Yakovenko, co-founder of Solana, also highlighted the challenges faced in the ecosystem in order to combat problems related to congestion in a network.
“Dealing with congestion bugs is much worse than a total activity failure. The latter is done, the bug is identified and fixed, and the chain continues. The first needs to go through the entire release and testing pipeline. Sending quickly is impossible.”
dealing with congestion bugs sucks so much more than total liveness failure. the latter is one and done, bug is identified and patched and chain continues. the former has to go through the full release and test pipeline. shipping fast is impossible 😭😭😭
— toly 🇺🇸 (@aeyakavenko) April 5, 2024
According to a lifting published on the Dune Analytics platform, curated by Scarn_eth, more than 70% of non-voting transactions that have been carried out on the network since the beginning of April have failed.
Solana DEX Exchanges: Transactions Surpass $60 Billion Driven by Rise in Meme Coins
In a month marked by records, the decentralized exchanges (DEXs) operating on the Solana blockchain exceeded all expectations, reaching an impressive monthly trading volume of over US$60,34 billion. This feat not only sets a new milestone for the Solana ecosystem, but also highlights the growing interest and trust in the decentralized finance (DeFi) space.
March's record mark more than doubled the previous volume seen in December 2023, which stood at almost US$28,14 billion, according to data from DeFiLlama. This feat puts Solana in an enviable position, recording the second highest transaction volume among all blockchains, behind only the giant Ethereum, which reported US$77,55 billion in the same period.
