Solana transaction errors and network problems: panic or hope?

Solana transaction errors and network problems: panic or hope?

In recent times, Solana has seen increasing demand and temporarily surpassed DApp market leader Ethereum in some metrics. This development led to Solana's sustained rally and one of the largest price increases among the leading cryptocurrencies. Nevertheless, transaction problems have recently arisen that have caused investor concerns. The question now arises as to whether Solana is collapsing under its own success or whether there is a way to save it. A recent investigation revealed that some Solana presale tokens were identified as malicious, raising concerns about the security of the Solana ecosystem.

Furthermore, Solana is considered a leader among blockchain payments in terms of stablecoin metrics. Blockchain has also gained popularity due to its low transaction fees and fast speed. However, there have been problems with the Solana network in the past, including major outages in February and smaller incidents in 2022, although the number of transactions has not yet been that high.

Solana developers have promised that the network issues are expected to be resolved on April 15th. According to experts, a significant increase in transactions per second is needed to overcome the current challenges. The transaction issues have caused DEX traders to struggle to place orders and some Solana-based projects have delayed their launches.

Solana's current challenges could impact its future price performance. A bullish triangle could potentially lead to a bearish environment, which could be detrimental along with a possible sell-off before or after the Bitcoin halving. It remains to be seen how Solana handles these challenges and whether it can sustain its success in the long term.