Solana

2024

April

when

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Solana ecosystem faced issues regarding failed transactions and user mistrust, but devs are working on a fix.</li>
 <li>April 15 could be the date when a fix for the implementation bug that caused the transaction failure lands on Solana.</li>
</ul>
The&nbsp;<a href="https://crypto.ro/en/analysis/solanas-monster-activity-flips-ethereum-getting-involved-in-the-ecosystem-without-memecoin-investments/" rel="noopener noreferrer nofollow">Solana ecosystem has been a lot in the spotlight</a>&nbsp;lately, mostly due to the massive volatility of the memecoins built on it.
Recently, Solana has been facing some issues, with transactions not going the way they should.
The issues were a surprise for the <a href="https://coinmarketcap.com/view/solana-ecosystem/" rel="noopener noreferrer nofollow" target="_blank">Solana ecosystem</a>, which is usually known for its high rate of stability and throughput, but now it looks like these problems have been affecting Solana’s value on the market.
Solana’s founders addressed the issues regarding the <a href="https://crypto.ro/en/news/solana-ecosystem-faces-issues-due-to-failed-transactions/" rel="noopener noreferrer nofollow">proliferation of failed transactions</a> and said that they were working on a fix.
<h2 id="solana-to-get-a-fix-for-implementation-bug">Solana to get a fix for “implementation bug”</h2>
<a href="https://twitter.com/0xMert_" rel="noopener noreferrer nofollow" target="_blank">CEO of Helius Labs</a>, a firm that offers back-end support exclusively to the Solana network, Mert Mumtaz, recently said that the current issue of Solana is not a design flaw but an implementation bug.
He explained that the distinction is very important because implementation errors are usually trivial, being able to be swapped out for other implementations.
However, he stressed that design errors are generally more serious and fundamental.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 solana's current issue is not a design flaw, it's an implementation bug
 it is now hitting me that some folks might not understand what we've been trying to say by this for the past week
 I'll simplify it (intended for non-technical people)
 it is important to make this… <a href="https://t.co/fNZzu9f90S" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/fNZzu9f90S</a>
 — mert | helius.dev (@0xMert_) <a href="https://twitter.com/0xMert_/status/1777400489488900102?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">April 8, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
He highlighted that the flaw Solana has is not a design one but a buggy implementation.
He also posted that the estimated time for the upcoming patch is April 15, adding that if additional issues are discovered during testing, this date might get delayed.
Mert said that the issue is not the only one on Solana, and there are also economic factors that have to be taken into consideration in the long run.
But the issue mentioned above is indeed the most important at the moment, and once this is fixed, tweaking local fee markets and economic incentives can be reasoned more clearly.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 90% of chains have been near unusable for the past few years, and no one says anything
 Solana is unusable for 1 week due to handling more scale than almost all chains combined, and suddenly, it's the worst blockchain of all time
 Study this
 — mert | helius.dev (@0xMert_) <a href="https://twitter.com/0xMert_/status/1777540331048730784?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">April 9, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
He also made sure to highlight the fact that 90% of chains have been near unusable for the past few years, and no one said anything, but Solana had issues for a week due to “handling more scale than almost all chains combined, and suddenly, it’s the worst blockchain of all time.”
Let’s hope that after Solana gets the fix, things will get back to normal for the network.

Solana To Get Fix For Implementation Bug on April 15

Table of Contents

crypto.ro global

Другие статьи, опубликованные 9 апр. 2024 г.

NEAR-Cosmos Link via Octopus IBC

ChainGPT vs. Bitbot: Best Crypto Investment Before Bitcoin Halving

Posschain (POSS) Overview 🧩🔗

Arthur Hayes Says Crypto Assets Face A “Raging Firesale” Around The Bitcoin Halving As Fed Uses “...

Saga Price Rockets 30% With $1 Billion Volume As Binance Expands Support

30% of Deutsche Bank clients expect Bitcoin to drop below $20k

Join our free newsletter for daily crypto updates!