Solana scrambles to patch failed transactions on its chain, crushed under rising user activity


  • Solana co-founder defended the rate at which transactions are failing on the SOL blockchain.
  • Co-founder Raj Gokal says that world class engineering teams are working to push fixes to the SOL chain. 
  • Solana has seen a surge in new addresses and volume, alongside nearly 70% average failure rate of transactions. 

Solana blockchain (SOL) has witnessed a surge in users and their on-chain activity with the rise in meme coins and transactions on DEXes. In the past few weeks the SOL chain has seen a failure of nearly 70% non-voting transactions. 

Solana’s co-founders defended the project and said that teams are working on tackling the technical issues and a fix will be issued in due time. 

Solana co-founders defend the chain, assure engineers are developing a fix

Anatoly Yakovenko and Raj Gokal, the Ethereum alternative chain’s co-founders tweeted in Solana’s defense as the chain is being critiqued for high failure rate of its transactions. Data from Dune Analytics shows that over 70% of non-voting transactions on the network have failed in the past few weeks. 

The co-founders of the project explained that engineers are working on dealing with congestion bugs. It requires a full release and the fix goes through a test pipeline, it may be impossible to ship it faster. 

Gopal said he stays up to date with world class engineering teams working on pushing fixes to improve the experience of submitting transactions on the chain and they believe this is a helpful way to contribute to the solution. 

Faced with the crisis, Solana’s new users and volume continues to rise. Data from Santiment shows a spike in volume, between March 31 and April 6. 

SOL

Volume (SOL) 

In the same timeframe, there is a rise in the number of new addresses, as seen on The Block. 

Solana

Number of new users on Solana 

At the time of writing, SOL price is up nearly 2%, trading at $177.40 on Binance. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin volatility hits multi-month lows, raising concerns of liquidation cascades

Bitcoin volatility hits multi-month lows, raising concerns of liquidation cascades

Bitcoin price has been consolidating between $94,000 and $100,000 for two weeks. Defund exchange FTX repayments on Tuesday dipped Bitcoin towards its lower boundary of the consolidating range.

More Bitcoin News
Litecoin bulls target $170 mark as open interest reaches four-year high of $887 million

Litecoin bulls target $170 mark as open interest reaches four-year high of $887 million

Litecoin price extends its gains and recovers above the $135.00 level on Wednesday, rallying over 7% so far this week. LTC’s open interest hints at a continuation of the rally as it reaches the highest level since May 12, 2021, of $887 million. 

More Litecoin News
Maker Price Forecast: MKR generates highest daily revenue of $10 million

Maker Price Forecast: MKR generates highest daily revenue of $10 million

Maker price extends its gains by 6%, trading around $1,189 on Wednesday after rallying more than 20% so far this week. On-chain data support a bullish move ahead as MKR generated a new yearly high in daily revenue, and funding rate data is positive.

More Maker News
Ripple's XRP holds symmetrical triangle support as SEC acknowledges Bitwise XRP ETF filings

Ripple's XRP holds symmetrical triangle support as SEC acknowledges Bitwise XRP ETF filings

Ripple's XRP is down 3% on Tuesday despite the Securities and Exchange Commission (SEC) acknowledgment of Bitwise XRP ETF. Unchained Crypto noted that XRP ETF could underperform due to key fundamental issues.

More Ripple News
Bitcoin: BTC consolidates before a big move

Bitcoin: BTC consolidates before a big move

Bitcoin price has been consolidating between $94,000 and $100,000 for the last ten days. US Bitcoin spot ETF data recorded a total net outflow of $650.80 million until Thursday.

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP