Published
3 weeks ago on
April 06, 2024
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Solana founder Anatoly Yakovenko has revealed that the bug at the root of significantly reduced functionality in the Solana blockchain ecosystem has been identified and patched.
The Solana network has been facing significant issues as it struggles to cope with surging meme coin demand. A record 75% of user transactions failed.
Anatoly Yakovenko Explains Glitch
The Solana co-founder stated that while the glitch causing reduced functionality, transaction failures, and a slowdown in block finalization had been patched, implementing other key updates may not be straightforward. In a post on social media platform X, Yakovenko explained that addressing issues due to bugs and glitches was more complex than keeping a network active and operational for its users.
“Dealing with congestion bugs sucks so much more than total liveness failure. The latter is one and done; the bug is identified and patched, and the chain continues. The former has to go through the full release and test pipeline. Shipping fast is impossible.”
Andre Cronje also commented on Solana’s ongoing issues, explaining that Solana was a victim of its success as it was witnessing an unprecedented demand for blockspace.
“Seeing a lot of “I told you so’s” against Solana because *checks notes* Solana currently has so much demand for blockspace that they need to optimize some bottlenecks (which also, btw, is just an engineering hurdle and not a fault of consensus or any critical component). Victim of success.”
Yakovenko’s explanation comes after Solana co-founder Raj Gokal’s post on X addressed the concerns of the Solana chain and the deployment of world-class engineering teams to address the issue.
“World-class engineering teams are working around the clock to push for fixes to improve the experience of submitting transactions on @solana. I am messaging them multiple times a day asking how it’s going, and they tell me this is a very helpful way to contribute to the solution.”
Solana’s Recent Pains
The Solana network has been forced to acknowledge a growing number of complaints regarding transaction-related issues. This includes an estimated transaction failure rate of 77%. The network glitch has impacted all users on the platform, including developers and other Solana services.
“Currently, 77.4 per cent of transactions on the Solana network fail and are not executed - all because of the hype around meme tokens.”
Data from Dune Analytics has shown that over 70% of transactions on Solana have failed since the beginning of April. The Solana Foundation has announced a slew of measures and recommendations to deal with the ongoing network congestion. These measures include optimizing computing unit (CU) usage and encouraging developers to specify a computing unit budget for their transactions. This helps avoid unnecessary resource allocation and improves efficiency.
Outages On Solana
Solana has seen an influx of projects lately, particularly popular meme coins such as Bonk and Dogwifhat. Both of these coins have broken into the top 50 cryptocurrencies by market capitalization and have also created several crypto millionaires. Blockchain expert Dagnum-PI stated in March that Solana was facing congestion, with an average ping time of 20 to 40 seconds, 30-50% ping loss, and up to 50-80% transaction failures.
“#Solana is currently congested with an Average Ping Time of 20-40s, 30-50% Ping loss, and up to 50-80% failed transactions. $SOL. Solana’s TPS isn’t 50k due to vote transactions; it’s just marketing. In reality, under full network conditions with 30-50s wait times, Solana maxes out at 1100-1200 TPS. This has been observed consistently over the past 2 years during Solana congestion.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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