Anatoly Yakovenko talked about the main problem that Solana blockchain is facing and also said that Solana still processes more than a combined total crypto transactions in the whole crypto space.
Solana blockchain is a popular Proof-of-stake consensus model-based blockchain network and also due to the unique Proof-of-history protocol, the network can facilitate 50k transactions per second, which is 7,100 times more scalable than the Bitcoin blockchain network. High traffic in the Solana blockchain network caused technical downtime in the network many times and that degraded interest of investors badly in this project.
Recently Anatoly Yakovenko, founder of Solana blockchain, appeared in an interview with Real Vision’s Raoul Pal. Through the interview, Anatoly said that the Solana blockchain is fully aimed to provide high scale & high rate transactions for the users but this is the main reason to face technical challenges, especially when big traffic started to enter in Solana blockchain ecosystem.
“This is our biggest challenge, which is maybe one that I like to have because all these challenges are coming because we have users.”
Anatoly said that the Solana blockchain already processes around 30 million transactions per day, while 64 million transactions was a peak number recorded in a single day, which is a very big number even if we compare it against the total combined number of transactions from all other networks.
Further Solana founder said that the total transactions processed by Solana blockchain are 10 times more than Binance’s BSC network and 3 times more over Ethereum blockchain.
Anatoly talked about this big number of transactions and traffic in the ecosystem of the Solana blockchain, which was more than what the team expected and gave rise to technical issues, which was never expected by the team Itself.
Further Solana founder explained the technological differences behind Solana blockchain vs the Bitcoin blockchain. He explained that the blocks of Bitcoin can handle high traffic but they process the transactions with delay and this case is not the same in Solana blockchain because it works to provide high-speed transactions, instead of introducing delay time.