Fantom CEO expresses support for Solana Network despite recent technical challenges

Andre Cronje, the creator of Fantom, has expressed his support for the Solana network. This comes amid several transaction errors and delays that the network has experienced recently.

Cronje, who is considered a leading figure in the world of decentralized finance (DeFi), shared his insights via the social platform

Fundamental flaws in consensus mechanism

According to data from Dune Analytics, about 75% of non-voting transactions failed on April 4, mainly due to increased activity driven by the recent popularity of memecoins on the Solana network. Despite these statistics, Solana proponents emphasize that the numbers are widely misinterpreted, pointing to technical challenges rather than fundamental flaws in the consensus mechanism.

The recent increase in failed transactions has sparked unrest among social media users, with complaints of a degraded user experience. Despite this, several members of the crypto community have supported Cronje’s stance, stating that despite the growing pains, the essential values ​​and capabilities of blockchain technology remain what matters most.

Frustration expressed by Solana CEO

Anatoly Yakovenko, Solana’s CEO, has also expressed frustration with the challenges related to network congestion. He emphasizes that while resolving complete network outages is often a matter of identification and patching, congestion issues require a much more challenging and time-consuming process of testing and updating.

Solana has suffered several significant outages since January 2022, including a notable outage in February 2024 that saw the network shut down for more than five hours. In response, Solana-focused software development company Anza released a detailed post-mortem report on the recent outage, which was due to a bug in Solana’s Just-in-Time (JIT) compilation cache.

Also reflected on market performance of Solana’s crypto

These technical setbacks have also impacted the market performance of Solana’s cryptocurrency, which has seen a significant decline after rallying 45% in the previous month. Despite the recent decline, Solana remains one of the top cryptocurrencies by market capitalization, valued at $89 billion according to data sourced from CoinGecko.

The future of Solana remains a focus within the crypto community, with continued efforts to improve network performance and optimize the user experience.