Solana did not log out this time but had serious issues with transaction processing
Solana network has faced another series of problems that slowed down all transaction processing. According to Raydium’s official Twitter account, the attempt to launch a liquidity pool did not end well for the entire blockchain.
LP launch failed
At 2:00 p.m. UTC, the largest decentralized exchange in the Solana network, Raydium, attempted to launch an unauthorized liquidity pool on the exchange that would allow anyone to provide liquidity and receive a fixed percentage.
Unfortunately for its users, the pool went offline almost immediately due to the spike in spam transactions that led to network congestion. During the congestion, the network failed to deliver its developers’ promise to process up to 50,000 TPS.
According to the exchange’s official blog, the network’s transaction processing capacity at this point in time remained at around 1,000 TPS for several hours. Other network users also encountered problems transferring transactions.
The network has already recovered from the strong congestion and is now picking up the previously set transaction processing bandwidth.
Not the first rodeo
Previously, Solana also encountered problems with the functionality of its network. The main blockchain network encountered transaction processing issues due to an “unexpected” spike in transaction volume.
The “Ethereum Killer” went offline for approximately 24 hours after the network forked itself. Developers were also unable to stabilize the network. Solana will become functional again only after validators coordinate the network resurrection and restart the blockchain with the new release.
The community has again raised many concerns about the network’s ability to keep up with the services and challenges of modern blockchain. The network that positions itself as an alternative to Ethereum that has not been offline for a long time, despite problems with significant fees, broke down or had serious processing issues for the third time in six months.
