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Solana Fork Causing Slowdown (Patreon)

Published:
2023-02-25 14:33:43
Imported:
2023-02

Content

Hi Team

Transactions are moving at a slow rate right now. The network is slow but not complete frozen.

For Solana Users, 'Priority Fees' Mean Paying Up to Skip the Line

To be clear, Solana network is still confirming blocks, but validators are at risk of running out of memory to do so until the root cause of the forking is determined,” said SolBlaze in a message on Discord. In a Discord channel established to coordinate efforts, validators and Solana engineers were discussing a range of options, including a potential network restart or a software downgrade. They had not reached consensus by press time.  

As someone said on Discord - Cue the FUD :D 

The SOL/BTC price is only down 1%

Meanwhile, food for thought 

SOLANA Trades at 1/25th the Market Cap of ETH but does more - and this is why I am holding.  Muy last purchase was at $20.11


Files

Solana Network's Transaction Processing Craters After 'Forking Event'

The Solana network experienced a forking event early Saturday morning New York time that throttled users' ability to execute transactions. According to Solana Explorer, the network was processing about 93 transactions per second near 2:00 AM east coast time, well below the network's rate near 5000 TPS some 15 minutes prior.

Comments

Anonymous

I use eth and bnb chains weekly. I have not done anything on Solana in about a year. What are all those "active" addresses on sol actually doing?... Is it real activity?

Anonymous

Hoping for a dip.

Anonymous

The big fud I see around solana is that they "don't have a proper community." I think people just ignore all of the hacker houses and events that they are running. And the solana community always looks like a big group of modern developers. I don't see that so much in the ada community.

Anonymous

I like the approach you used James to layer into SOL when it dipped down recently. I followed suit. :)

Anonymous

I’m only interested in it when it’s back to $10

Anonymous

The Forking Bears are out of hibernation....and the ADA guys are AMPED right now, hahaha. I have both...seems silly to fight over Blockchains, both will probably do well in the future. LFG Solana Devs!!!

Anonymous

Out of cash until payday, but if sol drops to $20, then I may pick up a bit. We don’t need any more FUD! Stocks and crypto took a beating this past week! I transferred some SOL to cold storage on Wednesday…fast and dirt cheap! My friend transferred some SOL using ETH network and had to pay a lot AND it was slower! SOL is much cheaper and often faster, based on my own experience.

Anonymous

Damn it. I can’t even unload my SOL if I wanted to. Exchange has halted all withdrawals and deposits of SOL currently.

Anonymous (edited)

Comment edits

2023-02-26 00:51:23 Arthur Hayes was on Ran's Friday banter show- everyone should watch it to gain insights as to what really matters in Web3. He mentioned he uses token terminal and that nothing else much matters other than fees, revenue, earnings... all else is speculation & hype. It opened up my eyes as to what projects are actually building & making $$. James... I'd love to see you do a deep dive on the token terminal reports available to all of us and perhaps there's a way to do a weekly update based on the $$ trends out there to help keep the IA community informed and profitable.
2023-02-25 22:40:04 Arthur Hayes was on Ran's Friday banter show- everyone should watch it to gain insights as to what really matters in Web3. He mentioned he uses token terminal and that nothing else much matters other than fees, revenue, earnings... all else is speculation & hype. It opened up my eyes as to what projects are actually building & making $$. James... I'd love to see you do a deep dive on the token terminal reports available to all of us and perhaps there's a way to do a weekly update based on the $$ trends out there to help keep the IA community informed and profitable.

Arthur Hayes was on Ran's Friday banter show- everyone should watch it to gain insights as to what really matters in Web3. He mentioned he uses token terminal and that nothing else much matters other than fees, revenue, earnings... all else is speculation & hype. It opened up my eyes as to what projects are actually building & making $$. James... I'd love to see you do a deep dive on the token terminal reports available to all of us and perhaps there's a way to do a weekly update based on the $$ trends out there to help keep the IA community informed and profitable.

Anonymous

Thanks for the heads up James!

rscx
>>102749801

Fees, Revenue, and earnings? And people are out here still trying to say crypto isn’t a security. Totally agree though crypto needs to be evaluated better.

Anonymous
>>102749801

While the hope of early devs and users might have been for something special and different, the fact is that most blockchain projects are mostly centralized and thus mostly securities. That's been shaped by venture capitalists and masses of people looking for margin/gain. I'm guessing the US SEC will eventually regulate all of crypto as a security with similar laws, taxes, etc.