• 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

Kevin Warsh Proposes New Treasury-Fed Accord to Manage Balance Sheet

chest

Kevin Warsh proposes a new Treasury-Fed accord to manage the balance sheet effectively.

user avatarBayarjavkhlan Ganbaatar

India Confirms Continuation of Cryptocurrency Tax Framework

chest

The Indian government has confirmed the continuation of its existing cryptocurrency tax framework for the 2026-2027 fiscal year, rejecting industry calls for tax reductions.

user avatarMohamed Farouk

Taiwan Strengthens Defense in Response to Chinese Pressure

chest

Taiwan's President Lai Chingte is enhancing defense measures in response to increasing pressure from China, including increased spending and counter-espionage efforts.

user avatarDiego Alvarez

Taiwan's Geopolitical Strategy Shifts Towards Defense and Diplomacy

chest

Taiwan's geopolitical stance is evolving as leaders prioritize defense and diplomacy to counter China's coercive measures.

user avatarElias Mukuru

BitRiver Struggles with Sanctions and Client Losses

chest

BitRiver is facing operational challenges and legal issues due to sanctions and the loss of major clients.

user avatarMaria Fernandez

BitRiver CEO Igor Runets Detained on Tax Evasion Charges

chest

Igor Runets, the CEO of BitRiver, has been detained on charges of tax evasion, facing multiple counts for allegedly concealing assets.

user avatarKenji Takahashi

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.