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Solana is Experiencing Network Congestion Issues, Binance Reports -Breaking

by Mike Robinson

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Solana has Network Congestion, Binance reports

Due to an increase in high-compute transactions, Solana’s (SOL), network has withdrawal problems. It reduces the network capacity by several thousand transactions per minute. As a result, there’s an increased loading and transaction processing time, plus some transactions fail to go through.

The world’s top crypto exchange Binance addressed the problem:

“Withdrawals on Binance via the (SOL) network may be paused from time to time to clear the backlog. The project is currently being worked on to find a long-term, stable solution. We apologize for any inconvenience.”
Coinbase (NASDAQ:), another major crypto trading platform, also noted Solana’s Network-Wide Degraded Performance. However, some Coinbase users report still experiencing congestions.

Solana’s network has been down twice within a week. Binance users are more affected than any other platform.

Flipside

  • Technische disruptions signal the need to continue system development and improvement.

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