Solana is stuck again
Original title: " Solana Gets Slammed"
Original author: Jack Inabinet
Original translation: Lucy, BlockBeats
Editor's note:
According to Messari's latest Solana Ecosystem Report for the first quarter of 2024, Solana's average daily DEX spot trading volume in the first quarter increased by 319% year-on-year to US$1.5 billion. Solana has become a major venue for retail users and memecoin transactions. However, on April 5, according to Dune data information, the Solana network user transfer failure rate was as high as 76.8%. It is reported that the core problem is related to the QUIC implementation and the behavior of the Agave validator client when processing a large number of requests.
bankless Author Jack Inabinet writes about a solution to the Solana network's transaction chaos. Jack Inabinet notes that as the amount of spam increases, more and more transactions are being discarded, causing unnecessary confusion for real users. Some believe that the key to solving the problem lies in ongoing technical fixes, while others believe that economic solutions are a more effective path.
Transaction turbulence. Solana's most loyal defenders have long insisted that failed transactions only affect bots, but in recent days, the Solana chain has become almost unusable for ordinary users. Why can't transactions be completed on Solana, and how can the chain be improved?
ORE is a mineable token that was deployed to Solana on April 2, offering people who deposit SOL into smart contracts the opportunity to earn a protocol reward of 1 ORE per minute by correctly solving a cryptographic puzzle similar to a proof-of-work operation.
Since yesterday afternoon, ORE miners have been creating about 1 million transactions per hour, significantly increasing Solana's congestion, while the chain can only process about 30 million non-voting transactions a day.
Some charts have appeared on Crypto Twitter showing an increase in Solana's non-voting transaction failure rate, but they fail to accurately reflect the severity of the problem because the statistic only includes transactions that have arrived on the chain, and most users' transactions fail before they enter the chain.
Under Solana’s current fee paradigm, the cost of spamming the network is effectively 0, as transactions have no substantive base fee; ORE mining has commercialized spam, giving users a reason to put money into smart contracts that send tens of thousands of transactions in the hope that at least one of them will succeed.
Tweet Translation:
Last night, 1 of 25,000 USD of ORE transactions went live on Solana’s Beta mainnet.
The increase in spam leads to more failed transactions, as block producers can only have a limited number of connections open at a time when ordering transactions.
As bots generate spam more efficiently, real human users disproportionately bear the consequences, often finding themselves unable to transact on the network no matter how much they raise gas fees.
As bots generate spam more efficiently, real human users disproportionately bear the consequences, often finding themselves unable to transact on the network no matter how much they raise gas fees.
Tweet Translation:
· Solana’s network stack (QUIC) is poorly implemented and doesn’t handle spam well.
· If everyone spams, a lot of transactions will be dropped because a block leader can only handle a limited number of connections at a time.
· Bots are better at spamming than humans, so users are the most affected and most likely to be dropped.
· To win, you have to spam more than everyone else.
· More specifically, nodes or bots that are more aggressive in spamming will be more likely to succeed with little to no penalty.
· If this was done at the scale of Helius, where, for example, we were regularly processing more than half of all transactions, then this would bog down the chain, so it's not viable, and it's a shared tragedy.
· Since this happens before the scheduler, it's unclear if 1.18 will be able to fix this (probably not).
· This also means that increasing fees won't help, so increasing fees above a certain median is just a waste of money.
BTW, the constantly appearing failed transaction graph is not a great way to assess user impact, since most users never made it to the first place LOL. About 95% of the entire graph is just failed bot arbitrage attempts
While many within the Solana ecosystem believe that there is “no silver bullet” to address the increased frequency of discarded transactions, and instead hope that ongoing technical fixes to address network issues will lead to improvements, others point out that a proven economic solution is an obvious one.
Ethereum’s EIP-1559 upgrade introduced a dynamic mechanism that adjusts the base gas fee paid by users based on the variable demand for block space. Implementing a similar mechanism in Solana would increase the cost for spammers to pay the base fee to send a transaction, thereby reducing the amount of spam on the network.
Tweet Translation:
Without implementing the base fee, Solana will fail 80% of transactions. Take the fee, it’s a great mechanism.
「 Original link 」
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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