Percentage of failed user transactions reached a record of 77% on the Solana network
Experts attribute the growth of the indicator to the activity of arbitrage bots
05.04.2024 - 15:05
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What’s new? On April 4, the share of unsuccessful Non-vote transactions on the Solana blockchain reached 76,8%, which was the maximum for the entire history of observations. As analyst Colin Wu writes, the reason was the generation of spam transactions by bots involved in arbitrage. The Solana Foundation NPO has pledged to release a patch to fix the problem.
What else is known? Active Solana supporter and Helius CEO Mert Mumtaz also stated that such a high rate is due to the activity of spam bots. He added that a graph of failed transactions is “not a good way of assessing user impact as most users don't make it there to begin with.” According to the entrepreneur, 95% of this figure is generated by bots with failed arbitration attempts.
Later, Solana co-founder Anatoly Yakovenko said that fixing errors related to network congestion is much more complicated than fixing a full-scale blockchain failure. In the latter case, the error is identified and fixed, allowing the network to resume operation, whereas in the former case, the fix must go through a full release and testing cycle, making it impossible to resolve the problem quickly.
Non-Vote transactions are performed between wallets and smart contracts of decentralized applications (DApps) based on Solana, they are sent to the network and then accumulated in blocks. Vote transactions, in turn, are performed by validators that maintain the security of the network.
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