Solana network faces performance degradation for second time this week

This week, the Solana blockchain has faced its second network performance degradation incident. According to Solana, this is because of an increase in computationally intensive transactions.

As a result, the network capacity, which was initially claimed to be 50,000 transactions per second, was reduced to a few thousand transactions per second. Solana cited this as the reason why users were experiencing transaction failures, adding that its developers were already working hard to fix the issues.

This latest network issue comes just days after a similar incident occurred on Tuesday, with users experiencing the same problem. Many speculated that Tuesday's incident was due to a distributed denial-of-service (DDoS) attack, but Solana co-founder Anatoly Yakovenko responded on Twitter that it was just "the pain of commercializing a new runtime."

During these recent events, Cyber Capital chief investment officer Justin Bons expressed his displeasure with Solana, posting a series of tweets citing his reasons for not supporting the project. According to Bons, Solana "consistently exhibits a pattern of bad behavior rather than good blockchain design" and "prioritizes attracting ignorant investors."

Bons also criticized the network's security, noting that DDoS attacks were not the only problem. DDoS can be combined with 51% attacks, he said. Through this, he said, an attacker could “temporarily gain proportional control of the network by attacking other stakeholders.”

Yakovenko dismissed this as "exhausting nonsense," saying, "It's impossible to DDoS a private key."

Last year, Solana was hit by a DDoS attack that had a similar impact, reducing network performance. Austin Federa, director of communications at Solana Labs, said the outage occurred during an initial DEX launch when many transactions "landed on a Solana block that took too much computing power." “The network did not properly meter the computation of these types of transactions, causing blocks to take much longer to process than the network expected,” Federa said.

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