According to Sam Bankman-Fried, Solana has processed more transactions than other major blockchains despite reocurring outages.
Despite the multiple outages that the Solana network suffered in recent months, FTX CEO Sam Bankman-Fried believes the high-performance blockchain is still better than other networks in the industry.on Friday and lasted for more than 48 hours, causing DeFi users who borrowed funds from lending platforms to suffer forced liquidation.
The recent outage sparked criticism from industry experts and users. While many questioned Solana’s reliability and status as a “Wall Street darling,” some think it is no longer part of the blockchain race for the future.As both critics and supporters share their opinions on the Solana network issue, Bankman-Friedon Tuesday, noting that despite the network’s recent shortcomings, it is still superior to other chains.
He pointed out that although the number of transactions per second processed by the Solana network has significantly declined, it is still doing a lot compared to other blockchains.“There’s always more work to do. And the most important thing is doing that work, building… Solana is mostly out of slack–the demand from transactions has reached the supply. So, you keep working to increase the throughput of the system, and the efficiency, to scale with the demand,” he said.
According to Larry Cermak, Solana’s outage had liquidated the positions of thousands of traders and harmed the performance of their crypto portfolios. “The main issue in the last few days was that you couldn’t get transactions through when you needed it the most. If I get liquidated because I can’t top up my position due to degraded performance, it’s hard to see me trusting it again for those kinds of transactions,” he said.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Why Sam Didn't Want Sidney's Help In ScreamSidney Prescott returns in Scream to offer help to new final girl Sam Carpenter, but Sam turns her down. Star Melissa Barrera explains why. WARNING! Spoilers ahead ➡️
Lire la suite »
'Good Sam': Sophia Bush and Jason Isaacs Have a Little Disagreement.SophiaBush and jasonsfolly aren’t exactly seeing eye to eye in the forthcoming episode of GoodSamCBS. GoodSamCBS
Lire la suite »
Real estate billionaire Sam Zell says office space will recover 'much faster' than retail“I think retail is much more of a falling knife than office, and I think that office is likely to recover much quicker than retail,” real estate billionaire Sam Zell tells BeckyQuick.
Lire la suite »
Sam Raimi Explains His ‘Spider-Man: No Way Home’ Feelings, Reveals Whether ‘Doctor Strange 2’ Is Finished FilmingSam Raimi, the director of Columbia Pictures’ original “Spider-Man” trilogy starring Tobey Maguire, has spoken out about watching his original cast reprise their roles in last yea…
Lire la suite »
$SOL: FTX CEO Defends Solana Against Criticisms of Its Network PerformanceOn Tuesday (January 25), billionaire Sam Bankman-Fried (SBF), who is the Co-Founder and CEO of crypto exchange FTX, publicly defended layer one blockchain Solana ($SOL) against criticisms of last weekend’s network performance issues. As Decrypt reported yesterday, “while the Solana network...
Lire la suite »
Solana Network Suffers Yet Another Network Outage: DeFi Users Pay the PriceThe Solana network was down again for 48 hours, but this time users who took loans were forced to pay the price as they faced heavy liquidations.
Lire la suite »