On 14 September at 12:38 PM UTC, Solana announced that it had encountered a denial-of-service disruption caused by a surge in transaction loads, reaching as high as 400,000 attempted transactions per second (TPS) that overwhelmed its network and led to its longest downtime yet. While initial tweets by the official Solana Support Twitter account suggested it was due to its mainnet-beta network "experiencing intermittent stability," Solana Labs' CEO Anatoly Yakovenko eventually attributed the network's failure to the overwhelming transaction volume from bots during an initial decentralised exchange offering, or IDO, for the Grape Protocol project that was taking place on the Solana-based decentralised exchange Radium. Although the flurry of transactions caused problems for Solana's transaction queues, a deeper analysis is warranted to understand the maladies plaguing Solana and why it will take more than "bug fixing” as exclaimed by Yakovenko to correct the issue.
FROTHING UP THE TPS NUMBERS
Solana's claims of offering superior scalability as compared to Ethereum seem misleading when you consider how toughly 80% of Solana's transactions are the chain's own consensus messages required simply to coordinate validators. These processes are typically handled separately from on-chain transactions via a distinct communications channel but are inexplicably bundled with user transactions on Solana's blockchain.
This story is from the October 14, 2021 edition of The Daily Guardian.
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This story is from the October 14, 2021 edition of The Daily Guardian.
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