Monday, May 16, 2022
Home Crypto News Market Binance Confirms Solana Network Congestion Issues

Binance Confirms Solana Network Congestion Issues

- Advertisement -
Follow-Us-On-Google-News

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.

- Advertisement -

Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Top Hedge Fund Manager Who Warned Investors, Says Terra’s Project Was Destined to Fail Due To High Yield

The hedge fund manager said Terra failed because the system was designed to enrich investors and the team. ...

SHIB Army Burns 449.98 Million Shiba Inu In 24 Hours, 2.17 Billion In A Week

2.17 Billion Shiba Inu (SHIB) Burnt within the Last 7 Days and 449.98 Million During Last 24 Hours. ...

Ethereum Founder Vitalik Buterin “Strongly Agrees” With Terra’s Plan to Compensate Small TerraUSD (UST) Investors Over Rich Ones 

The Ethereum creator believes that a plan to focus more on compensating small investors is a good hybrid formula. ...

Ethereum Founder Sends 500 ETH To Dogecoin Foundation

Ethereum Founder Sends 500 ETH To Dogecoin Foundation. It’s not always that Vitalik Buterin sends funds to support other crypto projects. However, he appears to...

Binance CEO Says Buy Back Or Burn Terra (LUNA) To Create Value, Confirms Exchange Doesn’t Hold UST

Binance CEO Says The Exchange Doesn’t Hold Any UST and Terra team should Burn LUNA to help price recover. ...

Top DeFi Coins Ready to Explode: Chainlink (LINK), Fantom (FTM), and Logarithmic Finance (LOG)

DeFi is rapidly surpassing conventional banking as an innovative application, and the expansion in the future years will be unparalleled. From pioneering borderless payment to...

Can Calyx Token (CLX) Empower the DeFi Space as Tron (TRX) Empowers the DApps Community?

DeFi tokens are taking over the market in the world of digital currencies due to their ability to be swapped or traded for other...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.