Solana (Sol) Network Congestion Issues get worse as Failed Transactions Skyrocket
The Solana (SOL) blockchain network has continued to experience congestion issues. The network congestion is being caused by high compute transactions and has also affected withdrawals of SOL on Binance cryptocurrency exchange.

According to a Binance, the network congestion on the Solana blockchain has reduced the throughput of the network to “several thousands of transactions per second.” This reduced throughput has been affecting withdrawals on Binance via the Solana network and causing some transactions to fail.

“The Solana (SOL) network is currently experiencing congestion due to an increase in high compute transactions, which is reducing its network capacity to several thousands of transactions per second and leading to some failed transactions for users”.

Binance warned that it may pause new transaction requests over the Solana network from time to time to enable it clear backlogs of transactions for its users. Solana network developers have now confirmed that the network was experiencing network congestion issues a few days back.

“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 leading to increased loading and transaction processing times, and some failed transactions”, they said on Twitter. They added that they were working on the problem to restore normalcy.

The current congestion the Solana network is facing marks the 4th time the network has had issues since September. In September, the Solana blockchain network went offline for several hours after experiencing a Distributed Denial of Service (DDoS) attack that caused the network to be overloaded with transaction requests. The network had to be restarted after validators reached a consensus.

Solana experienced 2 outages in December for the same reason.

Although the last two outages and the current one has not been as serious as the first, they have still slowed the network down to a crawl compared to the number of transactions it normally handles.

The Solana blockchain project has also been embroiled in another recent controversy. An independent audit conducted by the CEO of Cyber Capital, Justin Bons, found that the circulating supply of SOL was more than the developers disclosed. Bons discovered an extra 13 million SOL tokens apart from the 8.2 million that Solana developers declared the network to have.

Source:

MMA_Crypto