Log 75% users are failing txs… or are they?
About three-quarters of all transactions on Solana's network are failing amid the recent flood of activity brought on by memecoin mania on Solana, but supporters say the data is being interpreted broadly.
According to Dune Analytics data, on April 4, more than 75% of all “voiceless” Solana transactions failed, the highest failure rate on record.
The tension has been fueled by a recent uproar on social media from Solana users complaining about poor marketing and customer experience.
In a post to X on April 4, anonymous trader Altcoin Sherpa noted that while Solana still believes Solana will be able to establish itself as a blockchain network for retail adoption, the current user experience is currently less than ideal.
“I think SOL is the retail chain of this cycle – the experience has been brutal lately.”
Or maybe it's bot spam.
However, in an April 4th post to X, Voice Solana supporter and Helios CEO Mert Mumtaz questioned the claim that 75% of transactions fail, noting that most failed voiceless transactions are simply “bot spam.”
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“This is usually not a big problem for users, because your wallet pretends to be [transaction] And let us know in advance anyway that it won't work,” he said.
Mumtaz says the failed transactions chart is “not a good way to gauge user impact because most users don't start there.” [with].”
“About 95% of this entire chart is bot arbitrage attempts that fail,” he added.
Additionally, Muttaz explained that since most of this spam happens before the scheduling process, increasing marketing priority fees won't help, and “adding more than a certain amount of media” will make users “waste money.”
It is unlikely that the upcoming 1.18 Solana network update will fix these issues, hinting that the user experience on Solana may remain degraded for some time.
“Network fixes are required, and those are rolling out soon.”
The price of Solana (SOL) fell around 3% last week, stumbling slightly after a 45% rally last month. Its recent weekly decline has seen it fall as the fifth largest cryptocurrency by market capitalization according to CoinGecko data.
SOL currently commands a total value of $81 billion, followed by Binance's BNB token (BNB) at $89 billion.
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