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.
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