{"id":164182,"date":"2024-04-05T11:41:18","date_gmt":"2024-04-05T11:41:18","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=164182"},"modified":"2024-04-05T11:41:24","modified_gmt":"2024-04-05T11:41:24","slug":"solanas-network-struggles-under-pressure-record-failure-rate-as-transactions-surge","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/solanas-network-struggles-under-pressure-record-failure-rate-as-transactions-surge\/","title":{"rendered":"Solana’s Network Struggles Under Pressure: Record Failure Rate as Transactions Surge"},"content":{"rendered":"
TL;DR<\/p>\n
The<\/strong> Solana<\/strong> network<\/strong>, a blockchain<\/a> known for its high speed and scalability, is currently facing one of the biggest challenges in its history. In recent days, it has experienced an unprecedented increase in network congestion<\/a>, resulting in a record failure rate of transactions.<\/strong> The community observes the situation with concern and has highlighted the need to urgently address these issues.<\/p>\n The increase in transaction failures coincides with a noticeable rise in network activity, mainly driven by the popularity of memecoins.<\/strong> Characterized by their volatility and potential for both gains and losses, memecoins have attracted a large number of users to the Solana network in search of investment and trading opportunities.<\/p>\n However, the sudden surge in activity has put considerable pressure on the network’s capacity, resulting in a higher frequency of transaction failures.<\/strong> Users have become increasingly frustrated with the situation and have begun to express their concerns on social media and discussion forums.<\/p>\n SOL had a bearish performance in the last trading session. Within a 24-hour period, it lost 7.76% of its value, dropping from $190 to the current $170.8.<\/strong><\/p>\n <\/p>\nSolana is Working on Immediate Solutions for its Network<\/h2>\n