EddieJayonCrypto
13 Mar 24
The Solana blockchain network is facing significant challenges due to chain congestion and malicious actors exploiting the network’s low fees. As a result, Jito Labs has shut down its mempool, and the network struggles to handle the influx of newly minted meme coins and NFTs. Despite discussions abo...
The Solana blockchain network is facing significant challenges due to chain congestion and malicious actors exploiting the network’s low fees. As a result, Jito Labs has shut down its mempool, and the network struggles to handle the influx of newly minted meme coins and NFTs. Despite discussions about increasing block space, concerns about network stability prevail, and a surge in meme coin creation continues to cause record congestion on the network.
A rush of user activity on the Solana blockchain network is bringing with it some considerable challenges. Among them is chain congestion so great that it has prompted stakeholders within the blockchain ecosystem to consider major changes to the network’s operations. The increase in DeFi activity has also led to malicious actors exploiting the network’s low fees with bot attacks on users during periods of heightened network activity. Jito Labs, the Solana infrastructure developer, has shut down its mempool due to negative externalities impacting users on Solana.
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