Solana Set to Resolve Network Congestion; Meme Coin Generator on Success Track

By: Eliza Bennet

Solana developers plan to rectify the network's congestion issue by mid-April, with a patch expected to deploy by April 15. This step is in response to the recent surge in transaction failures that market observers attributed to increased blockchain activity and automated bots seeking arbitrage opportunities.

The congestion largely results from the use of the QUIC networking protocol, particularly the 'quin implementation of QUIC.' However, the timeline could extend if additional issues emerge during the rectification process.

Concurrently, Solana's Meme Coin Generator stands on a success track, having earned over $5 million since its inception in early March, and issuing thousands of tokens daily. It is now projected to drive a yearly revenue of $66 million.

Unfortunately, the current issues have led several crypto projects on Solana's network to halt their launches including staking rewards platform Surge Finance and real-world asset platform Sky Hause.