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Solana Rolls Out First Update to Address the Problem of Failed Transactions

Solana (SOL) grapples with over 50% failed transactions, rising to 75% in March. Updates aim to address congestion, with version 1.17.31 released. Blockchain data doesn’t show immediate improvement. Anatoly Yakovenko warns of persisting issues despite updates. The network contends with memecoin boom and active bots, posing challenges in distinguishing spam from legitimate transactions.




The price curve and development of Solana (SOL) suffers from the fact that more than half of the transactions on the network fail. Now the developers have released a first update to address the problem.

At Solana (SOL), the topic of failed transactions is depressing the mood

In March, the rate was still around 50 percent – and then rose to 75 percent at times. The failed transactions do not cause any direct financial damage and are not due to critical errors in the Solana network. But for investors and users of SOL, the phenomenon is extremely annoying and one hopes for a solution. In this respect, yesterday’s official post from Solana, which revolves around a technological matter, received a lot of attention.

With version 1.17.31, an update to the typical Solana node software is now available and this should “help alleviate congestion in the Solana network,” it says. However, blockchain data does not yet show a trend reversal, so we will have to wait and see whether the desired effects really materialize. Developers like Rex St. John are already looking at version 1.18, which is in preparation.

Solana co-founder Anatoly Yakovenko is even more cautious and, via In plain language: Solana must be prepared to live with the problem of failed transactions for the time being, even if updates such as version 1.17.31 of the node software address a solution step by step.

The reasons why the Solana network is groaning under overload go in two directions. On the one hand, the boom in Solana memecoins such as BONK and dogwifhat (WIF) is making a significant contribution to increasing transaction numbers – and you don’t want to “strangle” them technologically. The second reason, highly active bots in the SOL ecosystem, needs to be viewed in a more differentiated way – because here it is difficult to distinguish between “spam” and useful instruments from power traders and project developers.

Conclusion: Realism at Solana when it comes to failed transactions

After the release of update 1.17.31, Solana recorded a daily loss of 14 percent and was therefore negative in a weak overall market. Despite the excitement over a minor technological improvement, SOL investors seem to understand that the problem of failed transactions cannot be solved quickly.


(Featured image by Tumisu via Pixabay)

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

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Sharon Harris is a feminist and a part-time nomad. She reports about businesses primarily involved in tech, CBD, and crypto. She started her career as a product manager at a Silicon Valley startup but now enjoys a new life as a personal finance geek and writer. Her primary aim is to provide readers with a new perspective on the overlapping world of finance and technology.