Fun

Solana network ‘nowhere near where we expect it to be’ — Solana Foundation exec

News Feed - 2024-04-18 01:04:28

Marco Castrovilli7 hours agoSolana network ‘nowhere near where we expect it to be’ — Solana Foundation execAustin Federa, head of strategy at the Solana Foundation, addresses concerns around the latest network outages in an exclusive interview with Cointelegraph.1577 Total views3 Total sharesListen to article 0:00Cointelegraph YouTube SubscribeOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe goal of the Solana project is to build the world’s fastest network that is open, permissionless and decentralized — but that goal is still far away, admitted Austin Federa, head of strategy at the Solana Foundation. 


“From a user experience perspective, the network is nowhere near where we sort of hope and expect it to be,” Federa told Cointelegraph during an interview on the sidelines of Paris Blockchain Week. 


According to Federa, the congestion that has plagued Solana is a byproduct of its success, which has been driving an unexpectedly high amount of activity to the network.


“The charitable view of this is a failure of success, this huge demand for the Solana block space,” he said, adding that Solana is processing more transactions per second than Ethereum layer 1s and layer 2s combined. 


On the other hand, he admitted that Solana developers should have been able to anticipate the demand spikes affecting the network by implementing the necessary upgrades in time.


“The estimation between what the demand for Solana would be versus when this thing needed to be upgraded and fixed, those things did not line up," Federa explained. 


To know more about Federa’s view on the future of Solana and possible solutions for network congestion, check out the full interview on Cointelegraph’s YouTube channel.# Blockchain# Altcoin# Business# Transactions# Adoption# Solana# NFT# Layer2# Transaction Fee# MemecoinAdd reaction

News Feed

EU Seeks to Curb Reliance on US Dollar After American Sanctions Exposed Financial Infrastructure Vulnerabilities
EU Seeks to Curb Reliance on US Dollar After American Sanctions Exposed Financial Infrastructure Vulnerabilities The European Union (EU) is reportedly planning t
Adidas Reveals the Originals NFT Collection With Punks Comics, Gmoney, Bored Apes
Adidas Reveals the Originals NFT Collection With Punks Comics, Gmoney, Bored Apes On Thursday, the German multinational corporation Adidas announced the launch of the companyȁ
ADALend Ignites the Defi Space
ADALend Ignites the Defi Space sponsored ADALendis a scalable and decentralized lending protocol governed by a decentralized autonomous organization (DAO).
Defi Protocol Abracadabra’s Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout
Defi Protocol Abracadabra"s Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout Amid the crypto market carnage this weekend, another stablecoin slipped below the $
On-Chain Data Signals Key Test For Solana At $135 Level – Insights
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
ECB Chief Christine Lagarde Calls for Global Bitcoin Regulation — Says BTC Conducts ‘Funny Business’
ECB Chief Christine Lagarde Calls for Global Bitcoin Regulation — Says BTC Conducts "Funny Business" The president of the European Central Bank (ECB), Christin
Solana Flashes Buy Signal – $159 Support Key For Rebound
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
What is a Bitcoin-backed loan, and how to get one?
Sasha Shilina11 hours agoWhat is a Bitcoin-backed loan, and how to get one?Bitcoin-backed loans use cryptocurrency holdings as collateral, offering borrowers access to cash while retaining ownership of their Bitcoin.766
Who Audits the Auditors? Smart Contract Audit Token (SCATDAO) to Hold a Public Sale on KICK․IO
Who Audits the Auditors? Smart Contract Audit Token (SCATDAO) to Hold a Public Sale on KICK․IO press release PRESS RELEASE. The world of audit has always had an inherent problem,
Ethereum ETF sell-off signals more trouble — 10x Research
Josh O"Sullivan45 minutes agoEthereum ETF sell-off signals more trouble — 10x ResearchAccording to insights from 10x Research, the recent launch of Ethereum ETFs triggered a sell-off and revealed shifting market dynami
Turbo Team Selling After The AI Meme Coin Flies To New All-Time High: Time To Exit?
Este artículo también está disponible en español. Turbo is trending at around all-time highs. The upswing started in mid-September and initiated a move up that saw the AI
Ethereum Flashes Golden Cross Signal – Can Bulls Push ETH To $3,000?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu