Solana
Solana: Here’s the full story behind its ‘2nd straight day’ of txn ‘failures’
High failure rate coincided with a surge in Solana’s network traffic.
- Failure rate went over 77% at one point of time on 5 April
- Solana’s daily active user count, fees fell steadily over the week
Concerns over the Solana
network’s capabilities heightened as the failure rate for non-vote transactions stayed over 75% for the second straight day.Around 75.7% of all transactions that involve the transfer of native SOLs between smart contracts failed on 5 April, up from 75.5% a day before, according to AMBCrypto’s analysis of a Dune dashboard. In fact, the failure rate went over 77% at one point, an X user pointed out.
A closer examination, however, showed that failure rates increased significantly over the past month, coinciding with a surge in Solana’s on-chain traffic.
Source: Dune
The debate, discussion, and the solution
Anza, a Solana-focused devshop constituted by former core engineers from Solana Labs, responded to the growing concerns and claimed that it is testing a patch to fix the congestion. It added that “significant” progress has been made and fixes might be ready for rollout next week.
The highlighted graph has now become a sticking point between neutral observers and some Solana-based developers, with the latter dismissing it as an accurate reflection of Solana’s network activity.
In fact, Mert Mumtaz, CEO of Solana-based developer platform Helius, believes that a majority of the failed transactions was linked to bots spamming.
Solana sees drop in users
However, whether you look at it as a genuine concern or just FUD, Solana’s daily active user count fell steadily in response, according to AMBCrypto’s analysis of Token Terminal data. This low participation on the network also led to a decline in fee collection.
Source: Token Terminal
That being said, SOL was unaffected on the charts over the last 24 hours, with the altcoin hiking by 2.45%. Its weekly chart was in the red though, recording double-digit losses.
Realistic or not, here’s SOL’s market cap in BTC’s terms
Meanwhile, co-founder of the Fantom blockchain, Andre Cronje, threw his weight behind the Solana ecosystem, calling it a “victim of success.” He called the ongoing congestion an engineering hurdle, and not a critical failure.
