• 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

Former Mt Gox CEO Proposes Hard Fork to Recover $5 Billion in Bitcoin

chest

Mark Karpeles, the former CEO of the collapsed Mt Gox exchange, proposes a hard fork in Bitcoin to recover nearly 80,000 Bitcoin lost during the exchange's downfall in 2014, valued at over $5 billion.

user avatarSatoshi Nakamura

MVRV Pricing Bands Indicate Potential Bitcoin Price Bottom

chest

MVRV pricing bands suggest potential Bitcoin price bottom between $51,558 and $54,703.

user avatarJesper Sørensen

Morgan Stanley Expands Bitcoin Offerings

chest

Morgan Stanley announces plans to enhance its Bitcoin and cryptocurrency services, moving towards native custody and an internal exchange platform.

user avatarRajesh Kumar

Binance Expands Product Suite with Gold Futures Trading

chest

Binance has introduced gold futures trading, allowing users 24/7 access to price exposure on gold.

user avatarLucas Weissmann

Citi Plans to Integrate Bitcoin into Traditional Finance

chest

Citi announces plans to introduce infrastructure for Bitcoin integration into traditional finance by 2026.

user avatarTomas Novak

BNB Shows Resilience Despite Market Fluctuations

chest

BNB shows technical resilience despite recent market volatility, maintaining a strong position above its 200-week moving average.

user avatarFilippo Romano

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.