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Binance Confirms Solana Network Congestion Issues

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Binance confirms Solana Network Issues.



Binance, the world’s top exchange, has addressed the Solana network issues by publishing a blog post. Wu blockchain also addresses the problem.

“Solana network is currently experiencing congestion due to increased high compute transactions.”

Binance reports that the Solana network is experiencing high congestion due to increasing high compute transactions. Such increased congestion is limiting the network to several thousand transactions per second. As a result, transactions are failing on the Solana network. Binance informs users that they have to pause SOL withdrawals from time to time to clear the backlog. The exchange also confirms that they are working with the network to provide a stable, long-term solution.

Slow Solana transactions are an issue that has been hurting the network for a month. SOL team is not providing any details on why the network is experiencing such issues. Earlier, TheCryptoBasic reported that the Solana network continues to experience problems in processing transactions, but that hasn’t stopped the price of SOL from rising higher.

Solana network continues to face problems and transaction failures. That might be because the network was the target of DDoS attacks and was slow to process transactions. However, the SOL team is not coming forward to provide a legitimate answer.

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Jakkkhttps://thecryptobasic.com/
Owner of TheCryptoBasic. Involved in cryptocurrencies for more than five years, Love to trade and write on cryptocurrencies. My primary aim is to provide genuine information to cryptocurrency readers because crypto is filled with frauds and scams. Accurate information is scarce to get. So We at TheCryptoBasic will be providing accurate information about cryptocurrencies topics that users can trust.

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