Solana blockchain has encountered its second network degraded performance this week. This happened because of the rise of computed transactions, …Read More…
The Solana network has had a total of four network incidents in a few months.
1/ The Solana Network is currently 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 some failed transactions for users.
— Solana Status (@SolanaStatus) January 6, 2022
The network capacity that was originally announced to be 50,000 transactions per second (TPS) was decreased to several thousand TPS. As a result, Solana cited this as the reason why users encountered failed transactions. However, the developers are already working to fix the issues.
Meanwhile, this latest network problem came where users encountered the same issues only a few days after a similar incident on Jan 4. Numerous assumed that the Tuesday incident was due to a distributed denial-of-service (DDoS) attack. But Solana co-founder Anatoly Yakovenko responded on Twitter saying that it’s just the “pain of getting a new runtime commercialized.”
Amid these recent events, Cyber Capital chief investment officer Justin Bons said his disapproval of Solana and posted a series of tweets listing the reasons why he doesn’t support the project. At the same time, he claims that Solana is “consistently displaying a pattern of bad behavior” and “prioritizing attracting ignorant investors over good blockchain design.”
Moreover, Bons blamed the security of the network, saying that DDoS attacks are not the only problem. He said that DDoS can be merged with a 51% attack. With this, Bons claims that attackers can “temporarily gain proportional-staked control over the network by striking other stakeholders.”