Following a significant rally in SOL prices in recent months, the Solana blockchain network has encountered a notable obstacle. The network is experiencing unprecedented congestion, resulting in a substantial number of failed transactions.
Congestion and Transaction Failures
Data from Dune Analytics indicates that on Thursday, April 4, approximately 75% of non-vote transactions on the Solana blockchain failed. This surge in transaction failures aligns with a significant increase in Solana network activity, primarily driven by the popularity of meme coins on the platform. Consequently, unique user counts and transaction volumes on Solana have surged simultaneously.
Community Response and Frustrations
The recent developments have sparked intense debate within the Solana community, with numerous users expressing frustration over deteriorating user experiences. In a post on the X platform on Thursday, April 4, pseudonymous crypto trader Altcoin Sherpa acknowledged the less-than-ideal experience on Solana but maintained optimism about its future as a blockchain network for retail adoption.
Network Congestion Amid Promotional Activities
Interestingly, Solana’s network congestion issues emerged concurrently with a promotional video released by the Solana community Superteam, which criticized Ethereum and encouraged developers to explore cross-chain compatibility with Solana via Wormhole. Official Solana accounts and the Chairman of the Solana Foundation also weighed in on this matter.
As much as I think that $SOL is the chain for retail this cycle…
the experience is fucking brutal lately pic.twitter.com/7pbjddTC6v
— Altcoin Sherpa (@AltcoinSherpa) April 4, 2024
Addressing Concerns and Clarifications
Amid the escalating concerns, Mert Mumtaz, CEO of Helius and a vocal supporter of Solana, attempted to clarify the situation. Mumtaz argued that the reported 75% transaction failure rate misrepresents the network’s status, attributing most failures to “bot spam” rather than genuine user transactions being blocked.
🏥 经医生诊断，您患上了 ETHMAXI （以太坊极端主义）综合症，请立刻通过 @wormhole 跨链到Solana 获得治疗
查看 @SuperteamDAO 创作的视频，看看您是否有对应症状？ 😉
Solana欢迎您。 pic.twitter.com/LMuSnTOKpT— Solana 中文社群 (@Solana_zh) April 4, 2024
Explanation of “Failed Transactions”
Mumtaz elaborated on the nature of these “failed transactions,” likening them to operations in Web2. He explained that the failed transactions, where smart contracts on Solana deemed a request invalid, were due to various factors such as lack of permissions or market condition changes, rather than inherent issues with the blockchain itself.
there is a stat going around CT about failed transactions on Solana
it is misleading and 90% of the people using it don't know what it means
I will explain (for non-technical folks only)
first, an example of how a usual interaction in web2 works:
– you go on twitter and click… pic.twitter.com/SBcZRDOkD5
— mert | helius.dev (@0xMert_) March 24, 2024
Real Issue: Excessive Spam Transactions
According to Mumtaz, the primary concern lies in the excessive submission of spam transactions, rather than Solana’s throughput capacity. He clarified that the chart depicting failed transactions doesn’t accurately represent the user experience, as most issues occur before transactions are included in blocks.
In summary, while Solana faces challenges with network congestion and transaction failures, community members and advocates like Mumtaz remain optimistic about the network’s potential and its ability to address these issues effectively.