Solana Foundation Answers Anticipated Questions

The foundation behind Solana, one of the altcoins most affected by the FTX collapse, made statements about the latest developments on its official Twitter account. The SOL Foundation clarified the long-awaited health of the network in its first tweet:

“Many community members have asked questions about the health of the SOL network following the collapse of FTX. The Solana Foundation is committed to transparency and has compiled several key metrics for the performance of the network during this period of volatility.

Overall, the network continues to perform well, despite dealing with more complex operations than usual.

The network has averaged 2,000+ TPS since November 8th.

Network upgrades appear to have the intended effect. Prioritization fees seem to help keep the network performing during periods of high activity.”

The Solana Foundation also talked about average block times on the SOL altcoin network:

“Average block time is an important measure of network throughput. Lower block times typically mean higher throughput.

On Solana, the block time increased to .61ms around November 8, but is still below historical averages.

Transaction units per block helps us understand how complex and transaction-intensive the average transaction is.

This metric rose around November 8, possibly due to a surge in trading activity triggered by market volatility.

The Solana Foundation has created an additional resource that answers questions specific to FTX’s bankruptcy and its impact on the Foundation’s finances and network health.

The Foundation will continue to monitor the health of the network and provide updated snapshots when appropriate.”

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.