Solana is experiencing some technical issues and while early reports suggested it was another attack on the network, other people are saying that the outage is simply the result of too many users trying to access Solana at the same time. Remind you of anything?
As one of the fastest growing blockchains in the world, Solana has encountered its fair share of problems. Back in September, it was down for 17 hours when the network got hit with a Denial of Service attack. That was a big scandal and caused a lot of people to question just how decentralized Solana actually is.
The Solana team fought off the critics and promised smooth sailing from here on out. Unfortunately, though, Solana recently experienced another outage. At first the community said it was another Denial of Service attack, however, now it seems that the more likely culprit was a surge of users all trying to access the decentralized exchange Raydium at the same time.
IDOs, Initial Dex Offerings, have become popular on Solana and when enough users try to access the offering at the same time, it can crash blockchain and causes outages.
Despite these technical hangups, Solana continues to be one of the best performing blockchains in the space. Solana has had more GitHub submissions in the last thirty days than either Polkadot or Cardano, and apart from Avalanche it’s the best performing smart contract platform in terms of price this week.
Also, whatever technical issues it may have, they aren’t stopping investors from plowing money into the platform. Solana Ventures, and Forte and Griffin Gaming Partners have announced a $150 million investment in gaming ventures being built on Solana. The
Solana blockchain is perfect for gaming, since its high speed transactions and low fees make it easy for developers to build products that gamers can actually afford to use.
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