2023-07-21
Network Performance Report: July 2023 (solana.com)
What Solana investors worry about Solana?
The
answer is outages.
Why people sell SOL and divert their money to invest in other cryptocurrencies?
The
answer is outages.
Solana has been plagued with outages. Anatoly
Yakovenko, the founder of Solana said outages come from the network low-cost
transaction fees. People can create bots to spam the network because Solana’s
fee is near zero.
When Solana network stop working, it can stop for as long as an hour.
However, in the first half of 2023, Solana has shown some improvement.
1. Solana outages have been improved.
On July 20, the Solana Foundation released a
performance report that Solana only had 1 outage in
February 2023. The rest 5 months Solana had 100% uptime.
2. Solana blockchain is decentralized.
As of July 11, 2023, Solana had 1,893 validators. Solana Foundation confirmed that Solana is one of the most decentralized blockchain.
3. Solana blockchain can process 65,000
TPS.
Solana Foundation said that Solana’s throughput
is 65,000 transactions per second, based on simple transactions like sending SOL
from one place to another.
In the first half of 2023 Solana
processed 2,000 – 4,000 transactions per second with TPS reached 5K in some period
of time.
Solana is the 9th largest
cryptocurrency by market cap. As of July 21, its fully diluted market cap is 14.0 billion.
Solana main competitors are Polygon and Avalanche. Polygon’s fully diluted market
cap is 7.67 billion. Avalanche’s fully diluted market cap is $10.06 billion.
Between June 22 and July 21, SOL price had increased 9.37% from $12.8 to $14 per SOL.
