Austin Federa, senior director of the Solana Foundation, ETH Denver During the event, he spoke to the sources about the current status of the project.
Federa announced that the US state institution New York Department of Financial Services has created great obstacles in front of many initiatives that design projects through Solana. Manager, also in the European Union “unmerciful” He emphasized that he heard the news of the projects that faced the rules.
“New York FDS has yet to approve Solana. We are making great efforts to keep up with the regulations, but the institution has little intention of licensing us.”
Why is SOL Network Disabled?
wither The executive also addressed network outages following regulatory crackdown. Federa states that the software engineers working on the team “clear problem identification” he said he couldn’t.
Restarting the Solana network caused significant slowdowns in block production.
“Most of the issue covers version 1.14. We worked on the testnet for months before the maintenance process. We realized that our testnet infrastructure is currently not as robust as it should be.”
What’s Solana’s Goal?
Austin Federa finally touched on the goals. The Solana Foundation manager emphasized that they want to quickly cover the path taken by networks like Ethereum in a few months.
But, according to Federa, the bear market is having a huge negative impact on venture capital funds flowing into the projects.
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