Over the past year, the network has failed Solana and the users frequently, which is a significant issue for a network that wants to achieve fast and affordable payments. The Solana team is following their plan to solve it, however.. they failed again this year. But.. there are some positive signs.
The plan Last year, Anatoly Yakovenko, the CEO and founder of Solana Labs, shared a message outlining the plan to improve the network's stability once and for all. On February 28, 2023, Anatoly released another statement regarding the ecosystem's efforts to enhance recent network upgrades, with a major focus on stability during the network's transition. This was AFTER performance issues on the 25th of February, 2023..
Currently, the plan is ongoing, consisting of six steps aimed at streamlining the network process. The plan includes the formation of an "adversary team," which comprises one-third of the Solana developer team.
This team of adversaries is dedicated to exploring every possible avenue to discover vulnerabilities in the network. They simulate malicious actors with the aim of staying one step ahead. This is great of course, but to be honest, they are doing this for 3 years now.
Trouble follows SOL The plan has not been well-received by the community, with significant criticism emerging. Some users are now questioning whether the Solana team is conducting thorough testing. After all, the Solana blockchain has experienced notable outages in the past. In September 2021, a major outage occurred due to a denial-of-service attack by bots spamming Raydium. In May 2022, bots invaded the network, causing a seven-hour outage. In June 2022, a consensus failure caused another outage due to a bug, leading to a decline in SOL's price. Additionally, on February 25 of this year, the Solana network faced performance degradation issues, resulting in transaction disruptions and prompting validators to opt for a network restart.
In my opinion, Anatoly Yakovenko and the team have made consistent statements and promises, but have failed for three consecutive years. Therefore, I believe their progress may have provided insights to the team, but as an investor, I find their progress unsatisfactory and lacking trust.
One positive sign though, according to IntoTheBlock, from May 1st Solana has a big growth in its user base, with approximately 5.4 million new addresses being added to the blockchain. This is the highest number of new addresses added since October 2022, so that does indicate a rising interest in the Solana blockchain among users. This made me move up from one star to two. Show Less
