Solana, one of the top ten smart contract-enabled cryptocurrencies by market capitalization, has acknowledged that it faces a number of issues that hamper the performance of its network. The official account of the state of the network, as well as the status page, reported this incident yesterday. This is the latest issue Solana faces after experiencing multiple network outages over the past few months.
Solana faces performance issues
Solana, a smart contract-enabled cryptocurrency, has formally acknowledged that its network is experiencing performance issues that affect system performance and cause certain transactions to crash. The report was issued by the Twitter account of the Solana Status project, which yesterday informed users of the situation.
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 causing increased transaction processing and loading times, and some failed transactions.
This report was released on January 6 at 16:11 UTC and as of this writing, the issue has yet to be resolved. It was also reported that the developers were working to address these issues and resolve the issue.
This is not the first time that the network has faced this type of problem. The first such incident, affecting block production by Solana’s validators, occurred on September 14, when Solana’s blockchain slowed to almost a slow level due to a resource depletion issue, according to the Solana Status account.
The blockchain faced another problem on December 4, when the entire network was brought to a halt and engineers had to restart it to get it working properly again. At that time, the network was stopped for approximately 5 hours, with no transactions or locks being issued during this period.
The project has faced other types of problems with congestion due to the launch of specific projects that have also saturated the network, as happened on December 13 when the launch from a project called Solchicks affected the stability of the blockchain.
Then again, on January 4, there was reports about Solana against a DDoS attack through spam transactions. However, these reports were discredited by Anatoly Yakovenko, Solana’s co-founder, who set that “there was some congestion due to poorly measured transitions, and some users experienced their txs timeout and had to try again.”
Yet even with all these problems, Solana’s total number of transactions surpassed that of its rivals in December, registering 45 billion transactions.
What do you think of Solana and the performance issues she’s been facing? Let us know in the comment section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not an offer or direct solicitation of an offer to buy or sell, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author are responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.