The decentralized finance (DeFi) Solana (SOL) network continues to record progress as the blockchain attempts to compete with established platforms like Ethereum (ETH), a factor that has translated into increasing transaction activity.
Indeed, as of September 22, Solana recorded a milestone as the number of Solana-based transactions has now hit 1 billion since its launch in 2020.
The number of transactions on the blockchain at the time of publication was 100,040,913,433, with 2,767 transactions per second at an average cost of $0.00025 per transaction.
Despite the fact that the network is struggling with issues connected to the performance of the blockchain, transactions on the platform seem unaffected. Notably, the transaction milestone supports Solana’s founding values of a high transaction speed and low-cost smart contract platform.
Source : Finbold
