solan net It’s been ‘outed’ twice in the past two weeks. Network users constantly complained of unsuccessful transfers. On the other hand, it was seen that DeFi investors recorded an increase in ‘complex transactions’.
The poor performance of the Solana (SOL) network has raised questions about the altcoin’s relevance and reliability. Sam Bankman-Fried, CEO of the FTX exchange, argued that despite the interruptions and poor performance, Solana is superior to other blockchains.
Bankman-Fried, Left (LEFT) believes that its network has broken down according to its historical performance, and this means that it is superior to other blockchain networks. The CEO of the FTX exchange focuses on the outcome of the Solana blockchain, emphasizing that the network still processes more transactions than all major cryptocurrencies.
1) I haven’t commented much on @solana this week, but some brief thoughts:
— SBF (@SBF_FTX) January 25, 2022
Block research vice president Larry Cermak thinks the Solana network outage is liquidating traders’ positions and negatively impacting the performance of their crypto portfolios. This means that Solana may not be the premier blockchain after its poor performance over the past few weeks.
The main issue in the last few days was that you couldn’t get transactions through when you needed it the most. If I get liquidated because I can’t top up my position due to degraded performance, it’s hard to see me trusting it again for those kinds of transactions
— Larry Cermak (@lawmaster) January 25, 2022
The developer team of the Solana network thinks that DeFi users slow down transactions on the network with complex operations.
analysts, Solana priceevaluated the trend of the market and predicted a recovery. An analyst nicknamed @MacroCRG believes that Solana price is approaching the initial area of interest and there could be a reaction at this bullish or breakout point.
Very happy I didn’t buy the golden pocket on $LEFT
Price approaching 4D block
All things considered we should get a reaction from here imo pic.twitter.com/HkVIYzytZL
— CRG (@MacroCRG) January 24, 2022
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.