As a crypto investor with experience in the Solana ecosystem, I’m both encouraged and concerned by Vibhu Norby’s recent reflections on Solana’s trajectory. The network’s rapid growth during December to April was undeniably exciting, with a surge of new users and projects. However, the subsequent congestion issues in early March were a sobering reminder of the challenges that come with scaling such a decentralized platform.
Vibhu Norby, a renowned Solana developer and CEO of Drip Haus, shared his thoughts on the Solana network’s progression over the past five months and shed light on the platform’s future plans in a post on X.
During the period from December to April, as reported by Norby, Solana experienced a diverse mix of events. He indicated that there was a significant surge, which he described as a “huge wave,” bringing the network’s Daily Active Users (DAUs) up to 160,000 at its peak. Furthermore, over half a million new users joined the platform during this same timeframe.
On the other hand, Solana also recorded several low-quality wallets on its platform.
Multiple Congestion Hit Solana Network
The initial buzz surrounding the Solana network faded quickly due to its inability to handle massive influxes of traffic by early March. This resulted in network congestion that caused transaction errors and rendered the chain virtually unusable for a considerable period during that month. For developers of Decentralized Applications (DApps) on Solana, this was a stark reminder of the challenges associated with building and scaling decentralized applications.
As a researcher studying the cryptocurrency market, I’ve come across several projects that have encountered delays in their launches. One notable example is Duck Coin, Solana’s first cultural Altcoin project, which announced a postponement of its launch on Reddit. Similarly, Suit Up, an NFT project, decided to suspend its launch and wait for conditions to improve before attempting another release. Surge Finance also delayed the launch of its SURGE token, opting instead to wait until “transactions can succeed,” rather than setting a specific new date.
As a researcher studying the Solana network, I’ve uncovered an intriguing development: The team swiftly responded to scaling challenges that would typically require up to a year for implementation. Their solution included introducing a new feature called Stake-Weighted Quality of Service (SWQOS). In this system, block producers can prioritize transactions validated by staked validators, providing an additional security measure against fraudulent identities.
I, Anaza, the developer behind one of Solana’s Agave validator clients, have announced a fix aimed at easing Solana’s network congestion issues. After extensively testing various solutions, the network started operating smoothly once again and restored its average block time to 2 seconds.
Solana Focus on The Future Post Congestion
I’m currently observing Solana’s transition into a new stage, during which we are focusing on laying the groundwork for its longevity and expansion. One crucial aspect is addressing congestion challenges by expediting the development of scalability solutions.
As a researcher studying the Solana blockchain platform, I recognize the importance of preventing future transaction outages. To address this issue, I believe implementing a robust system capable of handling high transaction volumes with minimal impact on performance is essential.
As a researcher, I’ve noticed that Norby places great emphasis on “daily active users who engage with p5” or simply put, our highly engaged user base. This underscores the significance of not only acquiring new users but also nurturing a strong community of dedicated users.
The huge Solana wave bw Dec and April was exciting and challenging
Our user base reached a peak of 160,000 daily active users, with over half a million new sign-ups to the platform. Despite numerous low-quality wallets, this development represents an significant achievement.
It ended with congestion starting March 2, and the chain getting…
— vibhu (@vibhu) May 2, 2024
The platform is currently used by approximately 25,000 highly engaged users every day. Following the congestion issues, enhancements have been made to some of Solana’s products. According to Drip Haus CEO, these improvements have led to increased user satisfaction and retention.
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2024-05-02 15:38