In Defense of Solana: Fantom CEO Stands by Network Amid Transaction Woes

Apr 6, 2024

Fantom network creator Andre Cronje has voiced his support for the Solana network amidst recent transaction issues, describing Solana as a victim of its own success. Cronje, a prominent figure in decentralised finance (DeFi), took to X to defend Solana against critics who attribute the network's congestion solely to its shortcomings, asserting that the challenges stem from the rapid growth of the ecosystem, leading to increased demand for block space. He emphasised that the performance issues are technical hurdles rather than flaws in the network's consensus mechanism. Data from Dune Analytics indicates that amid heightened activity due to the recent surge in meme coin trading on Solana, around 75% of non-vote transactions failed on April 4. However, proponents argue that such statistics are often misinterpreted. Despite the uptick in transaction failures, Solana users have expressed frustration on social media over the degraded user experience.