The Solana network is experiencing growing pains due to the surge in user activity, which can lead to several threats.
Tristan Frizza, co-founder and CEO of Zeta Markets, spoke to crypto.news about the recent congestion affecting Solana and the potential threats and solutions awaiting the cryptocurrency industry in the future.
“Jito’s recent decision to shut down its meme pool service to combat rampant sandwich attacks that can drive swap prices to bad for users shows that this is a huge problem for users.”
Tristan Frizza, CEO of Zeta Markets
Frizza claims that the Solana blockchain network is experiencing growing pains due to the surge in user activity, which could lead to congestion and attract attackers, impacting the network’s decentralized finance (DeFi) space and overall growth.
Experts offer several solutions to prevent this situation. Frizza believes that further optimization of the order book is needed to avoid overloading the Solana runtime computing environment. A possible solution would be to release the long-awaited version 1.18. This version resolves the inconsistencies in local free markets.
“It accelerates the development of the Solana rollup solution that submits orders to L2 and provides liquidity. “Then we will be much freer from base chain congestion issues.”
Tristan Frizza, CEO of Zeta Markets
Network outages often occur due to Solana’s inability to handle high transaction volumes. Last month, the Solana network stopped processing blocks. Laine, a blockchain software developer and Solana validator, said the error occurred due to poor mainnet performance.
Prior to this, in February 2023, Solana validators restarted the network twice due to unknown errors, which completely halted economic activity.
However, periodic outages do not prevent the SOL token from hitting multi-month highs. One of the growth drivers has been the hype around the Solana blockchain’s meme coin, which launched in December 2023. As a result, the price of SOL reached $158 on March 13th. This is the highest level in almost two years.