Solana’s popularity could lead to potential threat, crypto expert warns
The Solana network is experiencing growing pains due to a surge in user activity, which can lead to several threats.
Zeta Markets Co-Founder and CEO Tristan Frizza spoke to crypto.news about the recent congestion affecting Solana, as well as solutions that await the crypto industry in the future.
As an example of network congestion, Frizza pointed to a specific case where the Jito project decided to shut down its meme pool service due to the popularity of the Solana network.
“We can see this being a massive problem for users with the recent decision by Jito to shutdown their meme pool service in an attempt to combat rampant sandwiching attacks which would give users bad prices on their swaps.”
Tristan Frizza, CEO of Zeta Markets
Frizza claims the Solana blockchain network is experiencing growing pains due to a surge in user activity, leading to congestion and attracting attackers, which could impact the network’s decentralized finance (defi) space and overall growth. However, the expert outlined the importance of community-driven solutions and technological advances to solve these problems.
The expert suggested several constructive steps to improve the scalability and efficiency of Solana. Frizza believes further optimization of order books is necessary to prevent the Solana runtime computing environment from overloading. A possible solution would be to release the long-awaited version 1.18, which addresses inconsistencies in local free markets.
“To accelerate the development of Solana roll-up solutions, which would take order submission and liquidity provision to the L2. This would be much more free from base chain congestion issues.”
Tristan Frizza, CEO of Zeta Markets
Solana’s inability to handle high transaction volumes often causes network outages. Last month, the Solana network stopped processing blocks. Laine, a blockchain software developer and Solana validator, clarified that the failure occurred due to a decrease in the mainnet’s performance.
Before this, in February 2023, Solana validators restarted the network twice due to an unknown error that caused a complete halt in economic activity.
However, periodic outages do not prevent the SOL token from updating multi-month highs. One growth driver was the hype around meme coins on the Solana blockchain, which began in December 2023. As a result, the price of SOL reached $158 on March 13—the highest level in almost two years.
