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Solana’s network is facing congestion due to an increase in the number of transactions with a high computational load, Binance said
The Solana (SOL) network faced technical disruptions amid increased load due to transaction volume. According to the monitoring web page, the network is experiencing “performance degradation due to an increase in the number of transactions with high computing power.” Technical glitches at Solana have also been confirmed at Binance, which may cause the exchange to suspend SOL withdrawals “from time to time.”
Source: status.solana.com
The load is reported to reduce network throughput to several thousand transactions per second. However, what percentage of user translations from the declared volume is not reported. We will remind, earlier users found out that about 80-90% of transactions in Solana fall on the network nodes, and not on the users themselves.
As reported on the health monitoring web page, the incident caused the network to miscalculate “high-performance transactions” as a result of the incident. Neither the project’s twitter nor the website has yet reported technical difficulties online.
This is the second Solana incident since early 2022. The editors previously wrote that representatives of the platform disowned technical problems in the official Telegram channel. In response to user complaints, Solana representatives said that “nothing happened” to the network.
Users estimate that at the moment the network bandwidth has fallen from 2269 to 1187 transactions per second. According to unofficial information, the overload persisted for 5 hours. What’s more, some noticed that, despite obvious problems, the Solana health monitoring web page showed stable network performance.
On a weekly scale, the SOL cryptocurrency lost the most from the top 10 in terms of capitalization, plummeting nearly 20%, according to Nomics. At the time of writing, SOL is trading at $ 136. Read about why the head of Polkadot criticized Solana in the material of the BeInCrypto editorial staff.
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