Solana Achieved a New Record For Transactions Per Second
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Solana (SOL) has achieved 8453 TPS in terms of transactions per second. Relatively speaking, Ethereum only achieves about 30 TPS even after the merger, with the current highest TPS reaching 86.77. (ethtps.info). Arbitrum One surpasses Ethereum in terms of TPS, with a maximum of 286 but a current TPS of 1TPS every block.
#CryptoNews: #Solana hit a new all-time high of transactions per second.
— India crypto trader (@Crypto_trader99) December 5, 2022
During a casual interview, Solana Foundation Product and Technology Leader Matt Sorg discussed Solana’s future in the crypto sphere. According to Sorg, Solana is distinct from existing protocols in regard to scalability, capacity for growth, and technology. He stated that the company is prepared to face scaling-related challenges in future growth.
He said the platform is simple to use and has a clear path for doing so. He claims that Solana is a favorite protocol among Web3 gamers because of its high performance.
Solana Runs Into Trouble
Matt Sorg, the Product and Technology leader of Solana Foundation, clarified the reasons for Solana’s problems, saying that the company doesn’t have marketing challenges. He said that although other chains could refer to some problems as congestion, the business considers their outages.
Solana Foundation‘s Product and Technology Leader, Matt Sorg, talked to CryptoSlate’s Akiba about Solana and its future in the crypto sphere.
— Chelly Smart (@smart_chelly) December 2, 2022
He stated that Solana was capable of handling about 100 transactions per second when it wasn’t operating. That is still a great deal more than what other chains can provide. Although other chains may view this problem as congestion, according to him, it is an outage.
He added that the organization’s decentralized architecture contributes to downtime. The inability to propagate blocks would lead disparate systems to halt even if they occasionally agreed on the next block.
Following the FTX Crash Wave, Solana Fell
Solana’s value dropped by 60% in three days after the FTX meltdown, from about $34 to $14 within a week. According to reports, Alameda, the owner of SOL valued at $1.2 billion, might sell the cryptocurrency to continue in business. Investors sold their shares in a panic as a result, which prevented SOL from rebounding.
In November, Solana DeFi TVL fell by 70%, but Solana #NFT data is still growing, with an average transaction volume increasing by 67.7%; the blue chip index increased by 28.9% to 82.109. pic.twitter.com/vzElczzY0q
— Jack | Marketing Agency (@MaitraiM) December 5, 2022
It is more probable that Solana will go south than north because it sustained serious harm during the bear markets. Investors remain confident in the company’s ability to rebound in spite of this.
