• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Fantom CEO's Defense of Solana Amid Network Woes

user avatar

by Giorgi Kostiuk

2 years ago


The creator of Fantom, Andre Cronje, has expressed support for the Solana network during recent transaction problems experienced on the platform. Cronje, known as a significant figure in decentralized finance (DeFi), stated that the network's issues are not due to problems with its consensus mechanism but are primarily technical obstacles.

Despite criticism labeling Solana's ongoing congestion as a flaw, Cronje attributed the situation to the rapid growth of the ecosystem, leading to increased demand for block space. Recent data from Dune Analytics shows that a high percentage of non-vote transactions failed on April 4, which some argue has been misunderstood.

Acknowledging Solana as a victim of its success, Cronje's defense was supported by some community members. They emphasized that while blockchain technology is praised for its capabilities, increased demand that causes temporary user experience problems often triggers negative reactions, even though users desire higher usage.

Solana's CEO, Anatoly Yakovenko, expressed frustrations with addressing congestion bugs, highlighting the challenges in resolving such issues. The network has faced downtime in block production in the past, with previous significant outages occurring in early February 2024. Solana is currently the fifth-largest cryptocurrency by market capitalization, with its price experiencing fluctuations in recent weeks.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Options Traders Signal Measured Bitcoin Rally Ahead

chest

Options traders signal a potential Bitcoin rally with limited upside expectations, suggesting a price range of 100,000 to 118,000 by December 2025.

user avatarSatoshi Nakamura

Michael Howell Warns of End of Everything Bubble

chest

Global liquidity expert Michael Howell warns about the end of the everything bubble, highlighting risks in financial markets due to tightening liquidity and increased debt refinancing.

user avatarRajesh Kumar

Howell Analyzes Crypto's Position in Global Liquidity Cycle

chest

Michael Howell discusses the relationship between global liquidity and the cryptocurrency market, suggesting that crypto is late in its cycle.

user avatarJesper Sørensen

Eric Trump Denies False ETH Price Prediction Claims

chest

Eric Trump denies claims of predicting Ethereum to hit $8,000, calling them fake news.

user avatarLucas Weissmann

US Bitcoin ETF Experiences Significant Asset Decline

chest

The US Bitcoin ETF has lost $58 billion in assets from October 7 to November 19, marking a 35% decline due to investor redemptions amid macroeconomic challenges.

user avatarFilippo Romano

Tether Surpasses Central Banks as Leading Gold Buyer

chest

Tether has emerged as one of the largest gold buyers globally, surpassing several central banks in total gold accumulation.

user avatarTomas Novak

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.