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News

Solana Issues Targeted for Complete Resolution by April 15

April 9, 2024 - Around 2 mins mins to read

Key Points:

  • Solana aims to fix transaction failures by April 15 amid network congestion and spam transactions.
  • Users, including those using the Phantom wallet app, are warned of longer transaction wait times due to network congestion, exacerbated by a rise in memecoin-related activity.
  • Development efforts focus on software patches and an April update to streamline transactions and address implementation Solana issues.
Solana developers are gearing up to rectify a recent surge in transaction failures by implementing a fix slated for April 15.
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Read more: Top 13 Main IDO Platforms on Solana

Users Alerted to Delays Amid Solana Issue with Memecoin Activity

The network has grappled with congestion woes, resulting in significant delays and a staggering 70% failure rate for non-voting transactions on April 8.

Users, particularly those utilizing the Phantom wallet app, have been cautioned about prolonged transaction wait times amidst the congestion with the Solana issue. The network’s struggles stem largely from an inundation of spam transactions, compounded by a surge in memecoin-related activity.

Solana Developers Focus on Solutions to Streamline Transactions and Enhance Network Resilience

Mert Mumtaz, CEO of Helius Labs, emphasized the gravity of distinguishing between implementation and design errors, underlining the importance of fixing the Solana issue. Meanwhile, Anatoly Yakovenko, Solana’s co-founder, assured the community that the development team is diligently crafting solutions with software patches underway.

Anza, a Solana-focused developer collective, has also sprung into action, addressing congestion issues linked to specific implementations of the QUIC internet transport protocol and behaviors of Solana‘s validator client, Agave.

Furthermore, a pivotal step towards alleviating congestion lies in the planned release of the 1.18 update in April. This update aims to enhance transaction scheduling for improved determinism, with the goal of streamlining processing and mitigating bottlenecks.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.