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Solana, one of the top ten cryptocurrency smart contracts by market capitalization, has acknowledged that it is facing a series of problems hindering the performance of its network. The official system status account, along with the status page, reported this incident yesterday. This is the last issue Solana faces after experiencing several network interruptions in recent months.
Solana faces throughput issues.
Solana, a cryptocurrency with intelligent contracts, has formally recognized that its network suffers from performance problems affecting the speed of the system and leading it to abandon certain transactions. the report was issued by the solana status twitter account of the project, which informed users of the situation yesterday.
the account explained:
[the network is experiencing] degraded performance due to an increase in high compute transactions, which is reducing network capacity to several thousand transactions per second. this is leading to increased loading and transaction processing times, and some failed transactions.
This report was posted on January 6 at 1611 Utc and, at the time of writing, the issue has not yet been resolved. It was also reported that developers are working to resolve these issues.
woes aplenty
This is not the first time the network has dealt with this type of problem. the first incident of this kind — that affected the block production of the solana validators — happened on september 14, when the solana blockchain slowed almost to a crawl due to a resource exhaustion problem, according to the solana status account
the blockchain then faced another problem on december 4, when the whole network was stopped, and engineers had to restart it for it to work appropriately again. At that time, the network was shut down for about five hours, with no transactions or blocks issued during that period.
the project has faced other kinds of issues with congestion due to the release of specific projects that have also crowded the network, as occurred on december 13 when the launch of a project called solchicks affected the stability of the blockchain.
then again on january 4th, there were reports about solana facing a ddos attack via spam transactions. however, these reports were debunked by anatoly yakovenko, co-founder of solana, who stated that “there was some congestion due to mismetered transitions, and some users experienced their txs timing out and had to retry.”
however, even with all these problems, the total number of solana transactions outpaced that of its rivals for december, registering 45 billion transactions.
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sergio goschenko
sergio is a cryptocurrency journalist based in venezuela. He describes himself as late in the game, entering the cryptosphere when the price hike happened in December 2017. With a background in computer engineering, live in venezuelan, and get hit by the cryptocurrency boom on a social level, it offers a different point of view on crypto success and how it helps the unbanked and underserved.
