Solana Gives Reasons Behind The Recent Network Slowdown

Solana gives reasons behind the recent network slowdown that occurred recently and crippled the network for longer than a month so let’s read more today in our altcoin news.

It has been a rough week for Solana users as the network performance slowed down immensely. It was initially reported on the Telegram group that many speculated of a DDoS attack by hackers but it was due to the increase in high compute transactions. The conversations around Solana’s network issues were going on since the start of the year. Solana gives reasons for the platform suffering degraded performance as a result of the increase in high compute transactions. Solana boasts around 50,000 transactions per second and after the slowdown, the rise in high compute transactions led to a reduction of network capacity to a few thousand transactions per second. This led to some failing transactions for the users and assured the community that the developers across the ecosystem are monitoring the network to address these issues and to boost resiliency.

The Solana Foundation on the other hand still has to provide more details about the same but the network performance in the meantime could not have a direct impact on the native token. SOL’s price, however, is down by 5% in the past day and it is trading near $140 but it is worth noting that most of the crypto market went through a major correction in the past 48 hours. It is important to understand that the slowdown on the network is not something new. The fact that Solana suffered a few instances of a slowdown in the past year has concerned many of the community members.

A similar incident was reported recently where users complained of experiencing a huge slowdown which led to concerns regarding distributed denial of service attacks. The network went offline for four hours in the early morning of January 4^th and a few critics took the opportunity to call out Solana again. However, the co-founder Anatoly Yakovenko clarified that it was not the case this time and stated that the delays were the pain of getting a new runtime commercialized.