Summary
TLDR: Solana blockchain network facing challenges due to chain congestion and malicious actors exploiting low fees. Jito Labs shuts down mempool due to bot attacks. Solana co-founder considers increasing block space despite risk of outage. Users prioritize network stability over congestion. Record number of meme coins and NFTs causing network congestion.
Key Points
1. The rush of user activity on the Solana blockchain network has led to significant challenges, including chain congestion and malicious actors exploiting the network’s low fees for bot attacks.
2. Jito Labs, the Solana infrastructure developer, decided to shut down its mempool service due to repeated manipulation enabling bot attacks on Solana users during periods of heightened network activity.
3. Solana co-founder Anatoly Yakovenko considered aggressively increasing block space on the network to address congestion issues, but a Twitter poll indicated that network stability was a higher priority for Solana traders at the moment.