Posted 3/12/2024, 11:03:14 PM
Solana Network Faces Congestion Crisis from Meme Coin Frenzy, Prompts Debate on Changes
- Solana network facing major congestion issues from surge in activity, prompting considerations of changes to operations
- Negative MEV attacks exploiting low fees have prompted Jito Labs to shut down its mempool service
- Congestion causing problems for projects minting NFTs like Drip
- Solana co-founder proposed increasing block space, but Twitter poll voted against due to outage risks
- Main source of congestion is meme coins - over 9,000 new SPL tokens created daily, breaking records
