Why the Problem with Failed Solana Transactions Is Growing

The price curve of Solana (SOL) can no longer defend its high from the first half of March. In the concert of the ten most important global cryptocurrencies, Solana is currently negative with a weekly loss of 7 percent.

The search for causes leads to a topic that also affects the future viability of SOL. Because the problem with failed Solana transactions is getting bigger and bigger. Blockchain data shows that on a daily average only 25 percent of monetary SOL transactions are processed in the network as intended.

If you want to find out how the failed Solana transactions impacted the price of the cryptocurrency and to be the first to find the most important financial news from around the world, download for free our companion app Born2Invest.

Two weeks ago, the rate of failed Solana transactions was still around 55 percent

It is now becoming increasingly clear that the majority of transactions that get stuck in the SOL network come from bots. But it also affects normal users like Dan Gambardello, who complains about his suffering on X. So you sit in front of the computer and expect a SOL transaction to be confirmed within seconds – and in the end you have to trigger it several times for it to go through.

Since its early days, Solana has always advertised that it has the fastest network with the highest capacities among modern blockchains. This story has already been deeply scratched by repeated total failures of the SOL network. Solana’s defenders argue, among other things, that the boom in meme coins in the ecosystem is leading to additional burden.

But from a user perspective, it is still clear that Solana urgently needs to improve its network structure. In crypto sectors such as decentralized finance (DeFi), Metaverse or gaming, it is all about processing transactions reliably in what feels like real time. Solana can no longer necessarily keep this promise. Solana developers discuss how they can limit the activity of bots and how to define crypto spam technologically.

Conclusion: Solana Network still in beta version

In the official language of the Solana Foundation, the SOL network is still in beta mode around four years after its launch. Programmers use this to describe software that is checked for errors.

Strictly speaking, the failed Solana transactions are not a mistake, but rather their rejection was inevitable in the event of network overload. Nevertheless, Solana will have to focus on the problem in order to prove its future viability – because who wants to use its system in which supposedly simple transactions become a game of chance.

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(Featured image by Anna Tarazevich via Pexels)

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First published in BLOCK-BUILDERS.DE. A third-party contributor translated and adapted the articles from the originals. In case of discrepancy, the originals will prevail.

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