Sam Bankman-Fried (SBF), the CEO of FTX, has reiterated his support for the popular blockchain and cryptocurrency project Solana, commending its ability to still keep things going amid the network outage that lasted over 48 hours.
Commenting on the development in a series of tweets posted today, SBF stated that despite Solana not being able to process as many transactions as it could have, the network still managed to complete a ton of transactions within the downtime.
SBF noted that if voting transactions are excluded from Transactions Per Second (TPS), then it is safe to say that Solana processed more transactions than all other blockchain networks combined.
4) As far as I can tell, during the week when it's had performance issues, and if you exclude all of the voting transactions from the TPS…
…it's still processed more transactions than all other major blockchains.
Combined.
— SBF (@SBF_FTX) January 25, 2022
Although Solana may have failed to hit its goals at times, it does not stop the project from being an ambitious one committed to making progress in the crypto space, SBF said.
“Yes, it hasn’t processed as many as it could have. But it’s still doing a ton. Which is to say: there’s more work to do. There’s always more work to do. And the most important thing is doing that work. Building.”
He, however, recommended significant steps that the Solana team can take to make the network stronger in the future.
“Solana is mostly out of slack. Demand from transactions has reached supply. So, you [the team should] keep working to increase the throughput of the system and the efficiency to scale with the demand,” SBF tweeted.
With Solana suffering a network outage for over 48 hours, the price of its native cryptocurrency SOL slumped by more than 35% within the last seven days.
At the time of article posting, the cryptocurrency has regained stability and is currently trading at $98.31.
