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Solana Labs CEO Addresses Technical Difficulties Of The Project

Solana has been in the spotlight for a while now due to the many achievements that surround the project. Now, Solana’s founder is addressing some of the technical difficulties that the project has been dealing with.

Anatoly Yakovenko addresses Solana issues

Solana Labs CEO Anatoly Yakovenko talked recently about some of the technical difficulties that Solana (SOL) experienced over the last year.

In a new interview with Real Vision’s Raoul Pal, Yakovenko said that Solana’s aim to process transactions at an ultra-high rate presented various challenges. This is addressed especially once the Ethereum (ETH) rival began attracting waves of new users.

“This is our biggest challenge, which is maybe one that I like to have because all these challenges are coming because we have users. And the chain is, on a daily basis, when you look at normal transactions from applications from users – just from people using the network – when you look at those, there’s about 30 million transactions per day. Our peak day was 65 million. That’s more than all the other chains combined.”

He continued and pointed out to the following:

“Binance Smartchain is one-tenth of that. I think Ethereum is one-thirtieth. And because of this load, we’ve seen things that we didn’t expect, and we were a bit short-sighted in the kinds of attacks people would throw at the network…”

The crypto entrepreneur said that different blockchains with different technical architectures and use cases would fail in different ways.

It’s also important to note the fact that while Bitcoin (BTC) can handle delays in block time, Yakovenko said Solana’s fast blocks wouldn’t allow for much wiggle room.

Regarding the price of Solana, at the moment of writing this article, SOL is trading in the green, and the coin is priced at $31.81.

Stay tuned for more news from the crypto space and make sure to check out the crypto market as well.

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