Andre Cronje called the Solana network’s congestion issue a part of the success of the Sol network adoption over other blockchain networks.
Solana (Sol) network is a popular Proof-of-stake (PoS) crypto network which is mainly known for its high scalability & efficient transaction process capability. In this bull phase of the crypto sector, the Solana network grabbed huge attention among the Meme token deployers.
Due to the very high load on the Solana network, people are facing a nearly 75% transaction failure rate. Even at the time of writing this article, the popular Solana self-custody crypto wallet Phantom also showing continuous warning messages to the users regarding the Solana network congestion issue.
By addressing the Solana network issue, Fantom (FTM) CEO Andre Cronje said that the Solana blockchain is facing challenges or criticism because it has become very successful.
He explained that the Solana network is experiencing high demand for its blockchain, which is causing some technical issues. This demand is a result of Solana’s success, but it’s also creating problems that need to be addressed. So, despite its success, Solana is facing challenges that come with being popular and in demand.
These words by the Fantom CEO are appreciable because notably majority of the crypto entrepreneurs criticised Solana network but no one praised the potential ability of the Solana network that is continuously handling the network load.
Sol price action
In the last 3 days, the trade price of Sol coin faced significant rapid volatility within the 8%± range because of network congestion.
The current trade price of Sol coin is $181 & this trade price is 3.8% down over the last 7 days.
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