Solana-based transactions approach 100 million despite challenging 2022

The Solana (SOL) network continues to record development as the blockchain strives to take on established platforms like Ethereum (ETH), a factor that has translated into increased activity. 

At the same time, the network is battling challenges related to blockchain efficiency, but transactions on the platform appear undeterred. In particular, as of September 6, the Solana number of transactions was a few million shy of hitting the 100 million milestone standing at 96,446,814,265. 

Notably, the transaction milestone backs Solana’s founding principles of standing out as a high transaction speed and low-cost smart contract platform. In this line, the network is facilitating about 2,700 transactions per second. 

Impact of Solana’s outages 

Despite recording significant transactions, the Solana network faces different challenges, with network outages emerging as a critical pain point. In this line, Solana co-founder Anatoly Yakovenko believes outages are the network’s main ‘curse’. 

“This is our biggest challenge, which is maybe the one that I like to have because of all these challenges that are coming because we have users on the chain daily,” said Yakovenko. 

Source : finbold

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