• 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

White House Prepares Announcement on US Strategic Bitcoin Reserve

chest

The White House is preparing to announce the US Strategic Bitcoin Reserve, focusing on legal and operational aspects.

user avatarKaterina Papadopoulou

Bitcoin Set for Bullish Rally in Q4 2026, Says Analyst

chest

Aralez predicts a bullish turnaround for Bitcoin in Q4 2026, with prices potentially reaching $90,000 and above.

user avatarMaya Lundqvist

Dogecoin Enters Critical Cleanup Phase Ahead of Potential Breakout

chest

Market analysts suggest Dogecoin is entering a critical cleanup phase, potentially leading to a stronger breakout attempt.

user avatarLeo van der Veen

Vitalik Buterin Advocates for AI-Assisted Formal Verification in Cryptocurrency Security

chest

Vitalik Buterin emphasizes the importance of mathematically verified software to protect against AI-assisted cyberattacks.

user avatarLi Weicheng

Ripple's Infrastructure Gains Momentum Amid Market Challenges

chest

Ripple's broader infrastructure business is gaining momentum, with significant growth in its Ripple Prime platform.

user avatarAisha Farooq

Ripple's Cross River Bank Partnership Resurfaces in X Money Initiative

chest

Cross River Bank, a long-time partner of Ripple, has resurfaced in the payments initiative X Money, which is part of Elon Musk's broader ambition to create a global financial super app.

user avatarTenzin Dorje

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.