- Solana faces performance degradation issues triggering a ballistic reaction from the crypto Community.
- Concerns are raised over its place as and Ethereum killer and its ability to keep up with the pace of innovation.
The Solana network suffered another setback on Feb. 25, 2023, when it faced performance degradation issues, resulting in transaction disruptions. This led validators to opt for a network restart, sparking a flurry of reactions from the crypto community. Members took to social media, expressing their various concerns, and some even compared Solana to other blockchain projects like Ethereum and Bitcoin.
A Coordinated Restart
The Solana network’s performance issues led to a coordinated restart, which caused the blockchain to unexpectedly fork. As a result, non-fungible token (NFT) artist Crypto Tea took to Twitter to question how Solana made it to the top 10 list of cryptocurrencies while experiencing such performance issues. Crypto Tea’s tweet sparked a series of reactions from community members, with some questioning Solana’s ranking as a top cryptocurrency.
Solana Mobile developer Andrew Watson responded to Crypto Tea, saying that they chose security over liveness and that they were in it for the long haul. However, another community member raised concerns about putting decentralized finance protocols at risk of insolvency.
Comparison to Ethereum and Bitcoin
In addition to the concerns raised about Solana’s performance issues, community members also began comparing Solana to other blockchain projects like Ethereum and Bitcoin. One Twitter user highlighted how Ethereum went with the slow but sure route, while Solana chose to move fast, sometimes breaking in the process. This user acknowledged that while Solana’s approach is riskier, it also paves the way for faster innovation.
Meanwhile, a Bitcoin supporter pointed out how Bitcoin never needs a restart in the midst of Solana’s network issues. This comparison was meant to highlight the stability of Bitcoin’s blockchain compared to Solana’s.
Solana’s Outages through the Years
The Solana blockchain network has experienced several outages in recent years, causing significant disruptions for its users. A denial-of-service attack by bots spamming Raydium caused a major outage in September 2021. Bots infiltrated the network in May 2022, causing a 7-hour outage. A consensus failure caused by a bug caused another outage in June 2022, driving SOL’s price down.
Solana’s Latest Update
On Feb. 27, the Solana Foundation published an update indicating that the Solana Mainnet Beta was successfully restarted on Feb. 26. The team confirmed that no user transactions were rolled back or impacted during the network restart. However, the root cause of the problem remains unknown and is still under investigation.
The recent performance degradation issues experienced by Solana have once again brought to the fore the question of how blockchain networks can scale effectively without compromising on their performance. While some community members remain concerned about the stability and reliability of Solana’s blockchain, others believe that its fast-paced approach to innovation is necessary to drive growth in the blockchain space. Regardless, the Solana Foundation must address the root cause of these issues to prevent further outages that could hurt the network’s reputation and adoption.