Solana

Solana network faces degraded performance second time this week

Business Crypto Finance Technology

This week, the Solana blockchain has experienced its second network outage. According to Solana, this occurred due to the increase in calculated transactions.

Consequently, the network’s capacity was lowered from 50,000 transactions per second (TPS) to a few thousand TPS. This, according to Solana, is why customers have suffered unsuccessful transactions, and the company’s engineers are already working to resolve the difficulties.

Meanwhile, this current network outage occurred just a few days later, on January 4, when consumers experienced the same troubles. Many people suspected the event on Tuesday was caused by a distributed denial-of-service (DDoS) assault. However, Solana co-founder Anatoly Yakovenko reacted on Twitter, stating it’s merely the “pain of commercialising a new runtime.”

In the wake of these recent occurrences, Cyber Capital’s chief investment officer Justin Bons voiced his displeasure with Solana. They launched a series of tweets outlining his reasons for opposing the project. According to Bons, it has a “history of unethical conduct” and “prioritises luring uneducated investors above excellent blockchain architecture.”

Furthermore, Bons criticized the network’s security, claiming that DDoS assaults aren’t the only issue. He claims that DDoS and a 51 percent assault may be combined. Attackers may “temporarily seize proportional-staked control over the network by attacking other stakeholders,” according to Bons.

“It’s impossible to DDoS a private key,” Yakovenko said, dismissing the claim as “exhausting bullshit.”

Solana was struck by a DDoS assault last year, which had a similar impact and slowed down the network’s functioning. The disruption occurred after many transactions during an initial DEX offering “landed in a Solana block that used an excessive amount of computing power,” according to Solana Lab’s director of communications, Austin Federa. “The network didn’t correctly metre compute for certain sorts of transactions, causing blocks to take significantly longer to execute than the network intended,” Federa said.