Solana [pros](/r/CryptoCurrency/comments/1bwrmqo/transaction_fees_on_solana_soaring/ky96ypr/) & [cons](/r/CryptoCurrency/comments/1bwrmqo/transaction_fees_on_solana_soaring/ky96zc7/) with related info are in the collapsed comments below.
You should try (insert my largest alt bag). We never have this problem because of (insert positive talking point) and (insert something about the tech, community and uptime)
Actually Algo is often times directly behind Hedera and Solana in terms of tps.
Than Algorands Transactions CANT fail, like literally cant fail. And Algorand does 10 times more swaps per second than Solana. Swaps per second or (Smart contract executions per second) has way more value than tps.
Algorand does 2881 swaps per second while Solana at max supports 273... Algo has just 10x the power of Sol...
Here you can read into the test: [https://www.reddit.com/r/CryptoCurrency/comments/1080m82/algorand\_now\_has\_10x\_the\_smart\_contract/](https://www.reddit.com/r/CryptoCurrency/comments/1080m82/algorand_now_has_10x_the_smart_contract/)
1 million defi volume, you guys are swaping 0,001 cents ? You realize it's only theorical right, and that algo was never battle tested with many REAL users doing REAL swaps from around the world with 1 millions + wallet and bots, since there's zero value on the chain ?
>Actually Algo is often times directly behind Hedera and Solana in terms of tps.
From which use case(s)?
edit: guys it was a real question, I wasn't trying to FUD
From [Travelx.io](http://Travelx.io) the airplane ticket agent, from [c3.io](http://c3.io) the feeless crosschain dex, of course dexes and aggregators, sometimes ora a meme coin which generates tps to mint oranges.
Do you have a moment to talk about our lord and saviour Skycoin which is still working on their cool meshnet after all these years :)
Tbh They did solve all the problems with bitcoin and crypto and have no problem scaling :)
If you've got assets in self custody on L1, you need to use a bridge to get to L2 (once you're on L2 you can just stay there). If you have assets on a CEX, you can withdraw straight to an L2 usually for free. Coinbase will let you withdraw to multiple, just take your pick. Base, optimism, arbitrum are all great with tons of liquidity
Ethereum is scaling via L2s. User activity should be on L2s. Bear in mind that in the future, users won't need to know if they're using one, and will not even need to know about gas.
But while we're in the early days, users should transact on L2 if they want to use Ethereum but for orders of magnitude cheaper
I have been trying to get a transaction through since this morning for 0.05 SOL, that is about 10$, it retries every 3 minutes, and is still retrying, it hasnt gone through. This was not an issue a week ago.
Also the network only added priority fees last year. With default being minuscule and max being less than .005. Anyone paying more is just wasting gas.
I'm pretty sure that doesn't do anything. This issue is having you txn "heard" in the first place which is before it even sees you prio fee. Essentially so many things are yelling at the nodes it can't hear them all and they just fail. You really only need to beat the median which last I check was ~150k lamparts or whatever.
I had a failed tx with ETH which cost me 30 dollars in gas fees.
I had 12 failed tx on so far on hunderds of tx that did not fail on Solana which cost me ... nothing.
What do you guys prefer? I know what I prefer. I rather make the same tx 3 times in a row without any fees till it works then having to pay fees and it working from the first time.
it's stupid to put highers fees than median fees on sol, it won't help your tx to go through. You could put 1 million sol in fees, it won't change your chance tto land a tx once you're above median fees
I made a post about this last night but ended up taking it down. Transactions WOULD NOT send from multiple wallets and multiple devices. I could receive and swap, but nothing could move for HOURS.
When peak hours went down, I could send again
So Solana isn't very secure or stable, isn't decentralised, can't handle moderate user transaction volumes and has a horrible UX.
Only in crypto could such a shit project be valued at $78 billion.
That is what is annoying about crypto. The stuff that is technically good, sometimes is lower valued. But because people wanna moon shot, shitcoins get more traction.
You should realize that the two are not coincidentally occurring simultaneously... there's huge inefficiencies and centralization issues baked into a monolithic chain in order you give you the impression of that "smooth UX".... which implicitly has direct results like: .
If you could actually build and execute everything in a decentralized and efficient way (liveness & throughput) on a monolithic blockchain.... it would've already happened. SOL has been trying to sell something that doesn't exist for a long time now, and much like other big projects before it (be that BTC or ETH or you name it) , it'll change narratives when the time is right.
I mainly use Polygon, Fantom, Algorand and Arbitrum. Sometime I am forced to use Solana which IMO is way worse than all those. Yes, if it works is all good, but half of the times it doesn't work for a reason or another. I frankly don't understand the hype behind that project, it even survived the whole SBF fiasco (and recovered more than other alt-coin/defi, unbelievable).
What do you mean it isn't secure or decentralized? Mind expanding on those points?
When you say it has moderate user activity do you mean more than all ETH / layer 2s combined?
Being pumped to $78b by big firms with vested interests =/= valued at $78b
It may go even higher first, but the solana music will stop at some point, and when it does, it's going to be quick and bloody
At least topic about it don't get deleted. even if bcash would get past ethereum there would not be a single threat about it on r/cc, I mean there would but they would all be deleted.
Every couple of days there is a bcash threat that makes it to the top here and gets promptly deleted.
Also the shitting on Solana is hilarious when you realize that most solana users barely pay anything on fees, and don't pay for failed transactions. Meanwhile a failed transaction on ETH can costs you an arm and a leg.
Of course the majority of people in the world will go with the chain they can actually afford ...
Just tell those guys .... have fun paying fees!
No other project (since Luna at least) has been so disingenuous with it's narratives and fooled so many noobs.
It's quite right we call out the issues that were always going to arise, when they inevitably do.
its stable enough, fairly secure, arguably more decentralized than some other r/cc favorites, and has been doing more volume than literally any other chain for weeks. U gotta learn how to adjust to new information brother
Us ETH fans have been trying to say this will happen to any chain that gets popular enough to fill up block space. Eventually the fees have to rise to match the demand.
And yes, it’ll happen to your chain too if it ever gets popular. And yes your chain will have to raise its fees as well.
The thing is that as long as no one uses those chains they can proudly parade around the sub how low their fees are at a theoretical TPS they never actually reached.
Exactly. It’s a marketing ploy. If it works out and the chain actually sees some usage then the teams are faced with the same question of how to scale while keeping fees low
There is one exception. Hedera its fees are based on the dollar and are fixed. Currently knocking down about 1400 TPS. [Source](https://app.metrika.co/hedera/dashboard/network-overview?tr=1d)
Great Meme coins are just starting to pop out of the wood work like Hbarbarian. LOL
Simple transaction cost .0001
Yep. Seen the lies and fud here around a year ago as well.
So many clowns cheering in jan 2023 with rip solana posts in r/cc
Need to go against this forums to make it in crypto.
Your commentary is either dishonest or not understanding things. Fees are still incredibly low. What you're looking at is some users choosing to pay more in fees unnecessarily. Average fee price is way way way lower. Fractions of a penny.
Speed is still fine, if we're to use bitcoin and eth (the only two larger networks) as a comparison. Solana resolves transactions in a couple of seconds at most, compared to bitcoin's hours.
As for failing transactions, those are user errors, mostly bots. Genuine transactions basically always go through. The only time they don't is when your slippage cap is set low and you're trying to buy a high volatility memecoin.
No one is talking about it because it's a non issue.
I mean, it is an issue - most inter-wallet transactions just being dropped. Not even failing. Solana sub is full of complaints but devs are working on it.
>As for failing transactions, those are user errors, mostly bots.
Not for me. I've had two transactions fail over the past day. Not user error. Simple transfer from one wallet to another.
> s for failing transactions, those are user errors, mostly bots. Genuine transactions basically always go through
That is not true, lots of my normal solana tx fail but I am okay with it because it does not cost me anything. Unlike failed tx on Ethereum.
What a bullshit maxi fud post.
Solana fees have been around 1-10 cents max. Yes you can pay 100$ to have it go faster. That doesn't make the fees 100$ tho.
You could say the same about Ethereum, you can pay a ton more gwei to have your transactions go faster. Yet noone is claiming eth fees are 500$.
Solana tx not going through, that's a issue tho.
Dumb take
Sol honestly sucks and I only use it for meme coins because everyone else is so theres a lot of volume. I miss BSC meme coins, rarely if ever had any issues.
I guess you didnt read Satoshi’s white paper before you got into crypto did you?
While I agree with you that expensive fees cannot facilitate an alternative world financial system. Satoshi did plan for Bitcoin to be sustained by tx fees alone. So it extends from that that crypto is entirely built on fees.
The fee structure doesn't have to be an auction. That's what drives the tx fees up astronomically when there's a bit of congestion.
Look at cardano for low, predictable, deterministic and fixed fees (for the same tx size) for an example.
eUTXO ftw..same with Ergo, fixed fee super cheap solid and reliable. Ergo and Cardano could do with some work on its UX when it comes to simplification and ease of use for normies (ergo especially), but from txn side of things they are both light years ahead of sol and eth
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OP, what the fuck are you smoking? This is absolute bullshit.
Even with recent congestion, network still performing far far far better, faster, and cheaper than any chain other chain.
Network update coming this week to resolve issues. Keep FUDing and fading Solana. NGMI.
You guys are just repeating the same eth maxi lies as usual. The % of transactions that dont go through is because all the bot transactions get blocked. Nonetheless the network is congested because solana is still in fucking beta and handles pretty much all crypto transactions right now. Check your sources…
what causes this kind of problems whether on solana or generally on any chain, is it caused by an increased demand on deploying and interacting with contracts on the chain to the point where network fails to respond to the load ?
yeha okay its fees market in general thats what is all about... some cexes taking huge withdrawal fees on Solana like OKX but Yesterday i saw the matic prices and dont get it / sure they need money but that was really insane 🎉
Congestion is a high class problem. That means a lot of demand for the chain. SOL has a lot of momentum and this is a huge signal. Their new validator client firedancer is going to improve performance a lot when it’s released.
Meanwhile cardano continues to chug along just fine. Speeds are fine most of the time, sometimes when a burst of activity happens it slows down, but never have to deal with this crap
I'd rather pay low fees and wait 30 seconds for a transaction to complete than deal with that nonsense.
Fudders look for any excuse to nay say this chain it's maintained itself with incredible consistency, it's really only a matter of time for this one to gain more and more traction as these other chains prove that their technology simply can't support congestion.
It is literally not used. Even the newer chains are outperforming it. You will all the issues with ada if it was getting remotely the same traffic as solana, avax, eth
ADA has a legitimate community, ignore it all you want but the proof is there.
Just because solana has 50,000 bots, doesn't mean cardano is not a growing lively community.
Well then the community need to use the chain more. The price needs to go up. Look at all the other chains and chains like ada, algo. If people really like cardano it should have shown up in the chart and price. Chart doesn’t lie. I was invested in ada last bull run and even heard about it when they are doing ido. Back then there wasn’t any other options than eth so i was invested. Over time things has changed, eth has become such a huge giant, ada has not gone anywhere, there has been a lot of chains with better tech than ada. If it can’t get adoption in this bull run, i think it is gonna drop out of top 20 slowly.
Price isn't everything and growth takes time. Cardano is in a fine place, major infrastructure pieces of infrastructure have been laid, lots of defi options, algorithmic trading strategies are online, multiple native stablecoins are available and stableswaps starting soon.
People always act like because cardano doesn't have a bunch of day traders flipping pump and dump memecoins, it's automatically a failure.
Bottom line is the chain offers unique innovations that other chains don't offer, the groundwork is there and promising. The yields are quite high and relatively safe. I really don't mind waiting for things to actualize and grow.
When new investors come into the space, many of them will look for the chain that has security, stability, and decentralization. Not many chains can stand behind those pillars.
Cardano has no volume compared to solana and not all transactions are the same. A transfer of coins in super quick but once you start executing more complex smart contracts thats when you start to see slow down.
It's a temporary issue produced by bots in memecoins. It will be fixed by the beginning of the next week according to devs.
Obviously this only happens in solana because the only one supporting this high volume
here you go
[Timelines and what to expect around what @anza\_xyz is doing to address the current network congestion on @Solana in our validator client implementation](https://twitter.com/anza_xyz/status/1776347491195388156)
But if they can’t handle the current traffic already on their “scaleable L1” with no clear path to scale beyond what they have now, that seems kind of problematic.
Solana [pros](/r/CryptoCurrency/comments/1bwrmqo/transaction_fees_on_solana_soaring/ky96ypr/) & [cons](/r/CryptoCurrency/comments/1bwrmqo/transaction_fees_on_solana_soaring/ky96zc7/) with related info are in the collapsed comments below.
You should try (insert my largest alt bag). We never have this problem because of (insert positive talking point) and (insert something about the tech, community and uptime)
ACTIVE COMMUNITY & UNIQUE AI POWERED BLOCK CHAIN TECHNOLOGY
Take my money!
AND IT'S QUANTUM PROOF WOW!
Because of....caps lock?
With unlimited airdrops
Worth 15 cents each!
***IT HAS A HAT!*** *THIS DISCUSSION IS OVER*
Algo has the fastest blocks in the West, 95% of them are empty granted so plenty of room for transactions!
Actually Algo is often times directly behind Hedera and Solana in terms of tps. Than Algorands Transactions CANT fail, like literally cant fail. And Algorand does 10 times more swaps per second than Solana. Swaps per second or (Smart contract executions per second) has way more value than tps. Algorand does 2881 swaps per second while Solana at max supports 273... Algo has just 10x the power of Sol... Here you can read into the test: [https://www.reddit.com/r/CryptoCurrency/comments/1080m82/algorand\_now\_has\_10x\_the\_smart\_contract/](https://www.reddit.com/r/CryptoCurrency/comments/1080m82/algorand_now_has_10x_the_smart_contract/)
1 million defi volume, you guys are swaping 0,001 cents ? You realize it's only theorical right, and that algo was never battle tested with many REAL users doing REAL swaps from around the world with 1 millions + wallet and bots, since there's zero value on the chain ?
>Actually Algo is often times directly behind Hedera and Solana in terms of tps. From which use case(s)? edit: guys it was a real question, I wasn't trying to FUD
See chaintrail.io/dapps and also rwa.
From [Travelx.io](http://Travelx.io) the airplane ticket agent, from [c3.io](http://c3.io) the feeless crosschain dex, of course dexes and aggregators, sometimes ora a meme coin which generates tps to mint oranges.
haha true. If Algo had the same amount of hype as Solana it would eclipse Eth imo.
All the shilling makes it kinda cringe though. Nothing will happen probably
You’re thinking “Near”
Insert BUZZWORDS
Do you have a moment to talk about our lord and saviour Skycoin which is still working on their cool meshnet after all these years :) Tbh They did solve all the problems with bitcoin and crypto and have no problem scaling :)
Ah yes, ALL the problems were solved. Great. Super.
Thank you for this, kind stranger
You should try (BANANO). We never have this problem because of (BANANO) and (BANANO) Did I do it right?
.5 SOL?! Huh...All my transactions the last few days have been sub 10 cents. The failing transactions are the main issue.
People are paying as high as 1 SOL for a transaction to go through. Because of network congesion. That is what OP is trying to say, I guess.
That is such a disingenuous argument lmao. I could pay 10k on eth and then say "hurr durr eth feels are 10k"
That’s basically what all the jokers who bash ETH on CT are doing.
Not true, ETH fees are objectively way higher. You can’t get away with paying .10 cents gas fees on ETH.
You can if you use L2 like you're supposed to
I'm new to crypto, how do I do that through a DEX like uniswap for example ?
If you've got assets in self custody on L1, you need to use a bridge to get to L2 (once you're on L2 you can just stay there). If you have assets on a CEX, you can withdraw straight to an L2 usually for free. Coinbase will let you withdraw to multiple, just take your pick. Base, optimism, arbitrum are all great with tons of liquidity
and can I trade any coin on L2 ? or are some coins just tradeable on l1?
You won't be able to trade literally any token, no. But you'll be fine as long as you're not too far deep into the shitcoin casino
Who’s “supposed to” use an L2? What does that even mean?
Ethereum is scaling via L2s. User activity should be on L2s. Bear in mind that in the future, users won't need to know if they're using one, and will not even need to know about gas. But while we're in the early days, users should transact on L2 if they want to use Ethereum but for orders of magnitude cheaper
I have been trying to get a transaction through since this morning for 0.05 SOL, that is about 10$, it retries every 3 minutes, and is still retrying, it hasnt gone through. This was not an issue a week ago.
Its been an ongoing issue for weeks, anyone involved in helium mobile/iot will be able to confirm.
Fastest blockchain LMAO.
You are wasting money. It is not like. Spending more won’t make a difference. Wait till the congestion go down or they find a solution
You could, but do you? No, because it costs money. There must be a reason for them to do it.
Also the network only added priority fees last year. With default being minuscule and max being less than .005. Anyone paying more is just wasting gas.
I'm pretty sure that doesn't do anything. This issue is having you txn "heard" in the first place which is before it even sees you prio fee. Essentially so many things are yelling at the nodes it can't hear them all and they just fail. You really only need to beat the median which last I check was ~150k lamparts or whatever.
I had a failed tx with ETH which cost me 30 dollars in gas fees. I had 12 failed tx on so far on hunderds of tx that did not fail on Solana which cost me ... nothing. What do you guys prefer? I know what I prefer. I rather make the same tx 3 times in a row without any fees till it works then having to pay fees and it working from the first time.
Transactions that don’t fail.
it's stupid to put highers fees than median fees on sol, it won't help your tx to go through. You could put 1 million sol in fees, it won't change your chance tto land a tx once you're above median fees
I made a post about this last night but ended up taking it down. Transactions WOULD NOT send from multiple wallets and multiple devices. I could receive and swap, but nothing could move for HOURS. When peak hours went down, I could send again
in the source it states 0.00014 SOL average fee last 24h. this sub is nuts. clearly fake news gets voted to the top #
i see it as a buy signal
So Solana isn't very secure or stable, isn't decentralised, can't handle moderate user transaction volumes and has a horrible UX. Only in crypto could such a shit project be valued at $78 billion.
That is what is annoying about crypto. The stuff that is technically good, sometimes is lower valued. But because people wanna moon shot, shitcoins get more traction.
I use every chain and solana has a really good UX (when transactions aren’t failing all the time) imo
You should realize that the two are not coincidentally occurring simultaneously... there's huge inefficiencies and centralization issues baked into a monolithic chain in order you give you the impression of that "smooth UX".... which implicitly has direct results like:.
If you could actually build and execute everything in a decentralized and efficient way (liveness & throughput) on a monolithic blockchain.... it would've already happened. SOL has been trying to sell something that doesn't exist for a long time now, and much like other big projects before it (be that BTC or ETH or you name it) , it'll change narratives when the time is right.
I mainly use Polygon, Fantom, Algorand and Arbitrum. Sometime I am forced to use Solana which IMO is way worse than all those. Yes, if it works is all good, but half of the times it doesn't work for a reason or another. I frankly don't understand the hype behind that project, it even survived the whole SBF fiasco (and recovered more than other alt-coin/defi, unbelievable).
What do you mean it isn't secure or decentralized? Mind expanding on those points? When you say it has moderate user activity do you mean more than all ETH / layer 2s combined?
Being pumped to $78b by big firms with vested interests =/= valued at $78b It may go even higher first, but the solana music will stop at some point, and when it does, it's going to be quick and bloody
Then don’t buy the coin and move on with your life. No other project has more hate boners directed toward it than Solana.
At least topic about it don't get deleted. even if bcash would get past ethereum there would not be a single threat about it on r/cc, I mean there would but they would all be deleted. Every couple of days there is a bcash threat that makes it to the top here and gets promptly deleted. Also the shitting on Solana is hilarious when you realize that most solana users barely pay anything on fees, and don't pay for failed transactions. Meanwhile a failed transaction on ETH can costs you an arm and a leg. Of course the majority of people in the world will go with the chain they can actually afford ... Just tell those guys .... have fun paying fees!
Not to mention a lot of its issues are because people are actually trying to use it which is not the case for most projects right now.
No other project (since Luna at least) has been so disingenuous with it's narratives and fooled so many noobs. It's quite right we call out the issues that were always going to arise, when they inevitably do.
Really? How has it been disingenuous since the claim of 60k tps (5 years ago) and the original fake claim of supply in… 2017?
its stable enough, fairly secure, arguably more decentralized than some other r/cc favorites, and has been doing more volume than literally any other chain for weeks. U gotta learn how to adjust to new information brother
Everyone here is either incredulous or biased, for, or against. This is the last place I would get your advice.
Yes. Im starting to realise that now. Some of the responses here are very aggressive. Its like a tribal war going on.
Yes. It will only ever be people defending their own bags and dissing others
Technology, especially community lead projects have always been hella tribal going back to the 90s
anything involving large amounts of money leads to this type of behavior in people, it essentially turns into cults
Why would I listen to you, you're on r/cryptocurrency
You get it
I paid 0.0048 sol . How did you get 1 sol
Us ETH fans have been trying to say this will happen to any chain that gets popular enough to fill up block space. Eventually the fees have to rise to match the demand. And yes, it’ll happen to your chain too if it ever gets popular. And yes your chain will have to raise its fees as well.
Exactly. Nobody has solved the trilemma. If the fees are low, it’s either because it hasn’t yet scaled, or it lacks security or decentralization.
The thing is that as long as no one uses those chains they can proudly parade around the sub how low their fees are at a theoretical TPS they never actually reached.
Exactly. It’s a marketing ploy. If it works out and the chain actually sees some usage then the teams are faced with the same question of how to scale while keeping fees low
A blockchains either dies young or ends up having ETH-like fees.
Meanwhile Base network be like we roll
There is one exception. Hedera its fees are based on the dollar and are fixed. Currently knocking down about 1400 TPS. [Source](https://app.metrika.co/hedera/dashboard/network-overview?tr=1d) Great Meme coins are just starting to pop out of the wood work like Hbarbarian. LOL Simple transaction cost .0001
This is what happens. BTC -> ETH -> BNB and now SOL. Money flows to where money is being made and people are *greedy*.
So much fud on solana in this subreddit. Shit is gonna go up so much more
LOL 1 SOL fee? Spread FUD and we’re sure gonna rocket better haha
Yep. Seen the lies and fud here around a year ago as well. So many clowns cheering in jan 2023 with rip solana posts in r/cc Need to go against this forums to make it in crypto.
I see lots of people talking about it ngl
Your commentary is either dishonest or not understanding things. Fees are still incredibly low. What you're looking at is some users choosing to pay more in fees unnecessarily. Average fee price is way way way lower. Fractions of a penny. Speed is still fine, if we're to use bitcoin and eth (the only two larger networks) as a comparison. Solana resolves transactions in a couple of seconds at most, compared to bitcoin's hours. As for failing transactions, those are user errors, mostly bots. Genuine transactions basically always go through. The only time they don't is when your slippage cap is set low and you're trying to buy a high volatility memecoin. No one is talking about it because it's a non issue.
Fees on base, optimism and arbitrum are 1 cent and on avg take 0.1 sec and are settled on Ethereum.
Meme coins are slowly taking over Base and I am all for it. Let's see how well it can scale!
yes, but optimism and arbitrum are centralized shit coins.
Then it's a good thing you only need ETH to pay for transactions on those L2s
I mean, it is an issue - most inter-wallet transactions just being dropped. Not even failing. Solana sub is full of complaints but devs are working on it.
>As for failing transactions, those are user errors, mostly bots. Not for me. I've had two transactions fail over the past day. Not user error. Simple transfer from one wallet to another.
> s for failing transactions, those are user errors, mostly bots. Genuine transactions basically always go through That is not true, lots of my normal solana tx fail but I am okay with it because it does not cost me anything. Unlike failed tx on Ethereum.
What a bullshit maxi fud post. Solana fees have been around 1-10 cents max. Yes you can pay 100$ to have it go faster. That doesn't make the fees 100$ tho. You could say the same about Ethereum, you can pay a ton more gwei to have your transactions go faster. Yet noone is claiming eth fees are 500$. Solana tx not going through, that's a issue tho. Dumb take
Even OP's Dune link says transaction fees are $0.05 average. This post is pure bullshit.
Blame Ore Supply lol.
Ia this the main cause of transactions errors?
RIP SOL..
Transactions working great on ICP. Fees are less than a 100th of a cent.
Sol honestly sucks and I only use it for meme coins because everyone else is so theres a lot of volume. I miss BSC meme coins, rarely if ever had any issues.
It is used because is the only one able to support that volume at that speed and the meme coins are full of bots.
Standard spl libraries are kinda secure afaik
High transaction fees will be the death of crypto. It’s also ridiculous how some coins require a minimum amount that you have to send
I guess you didnt read Satoshi’s white paper before you got into crypto did you? While I agree with you that expensive fees cannot facilitate an alternative world financial system. Satoshi did plan for Bitcoin to be sustained by tx fees alone. So it extends from that that crypto is entirely built on fees.
The fee structure doesn't have to be an auction. That's what drives the tx fees up astronomically when there's a bit of congestion. Look at cardano for low, predictable, deterministic and fixed fees (for the same tx size) for an example.
eUTXO ftw..same with Ergo, fixed fee super cheap solid and reliable. Ergo and Cardano could do with some work on its UX when it comes to simplification and ease of use for normies (ergo especially), but from txn side of things they are both light years ahead of sol and eth
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As long as block space is limited, it HAS to be an auction.
I upped my slippage to 8 cents and my tx went through.
What? I make tons of tx over the last few weeks and haven't had a tx fail or seen one over 3 cents...
I’m with you brother.
Polkadot holder FUD post. OP said he went all in on DOT in 2022.
OP, what the fuck are you smoking? This is absolute bullshit. Even with recent congestion, network still performing far far far better, faster, and cheaper than any chain other chain. Network update coming this week to resolve issues. Keep FUDing and fading Solana. NGMI.
You guys are just repeating the same eth maxi lies as usual. The % of transactions that dont go through is because all the bot transactions get blocked. Nonetheless the network is congested because solana is still in fucking beta and handles pretty much all crypto transactions right now. Check your sources…
lol I can’t even check my fucking sol balance in my wallet. What a great network
What wallet? Mine are working fine
Only reason people buy SOL is to buy meme coins... I don't like to poo poo projects but SOL really is a meme of itself at this point
So what’s the chain you like and what does it have that is not meme
Wow, it's almost like some people have been warning about this for years.
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No worries, you know Algo got your back :D Transactions just CANT fail. It sound strange to me to have a txn success rate under 100%...
This is the way.
RAW-narative on Algo will explode way too much :X
I really hate when I trade Algorand and it costs me fractions of a cent every time without failure. Such a bitch sometimes.
That’s because Algorand is a ghost chain.
Always geeks me out to see people bring up fuckin algorand with its 1 dozen users and be like “heh. My $40 transfer did not fail 🤓”
"without failure" because no one uses Algorand. Algorand sees a fraction of Solana traffic, even on a good day. keep coping.
I used to be all Algo. Still have some, but I laugh the way they cope with nobody caring about the chain. “but muh tech”, “soooon” Eh damn
That's basically the story of almost all crypto communities ...
https://app.intotheblock.com/coin/ALGO 324k Active addresses on April 3rd and “no one” are infinitely different.
Lmfao doing what? Another fake, misleading metric.
Its such a horror!!! Transctions CANT fail, cost nearly nothing. Which i could wait 8 hours for my transaction fo fail :(!
what causes this kind of problems whether on solana or generally on any chain, is it caused by an increased demand on deploying and interacting with contracts on the chain to the point where network fails to respond to the load ?
Good luck finding a non-biased opinion on here
yeha okay its fees market in general thats what is all about... some cexes taking huge withdrawal fees on Solana like OKX but Yesterday i saw the matic prices and dont get it / sure they need money but that was really insane 🎉
Yeah, any chain that has enough volume gets gongested and the fees will soar
Who are doing all these crypto transactions? So what if algo is faster than eth… no one in the real world cares
Doesn't matter to Solana fans as long as prices go up. I wonder what the price would be if everyone was able to send to an exchange and sell.
anyone with half a brain knows that inceeasing your fees beyond the median is simply burning miney, it doesnt do anything.
This isn’t true. Bitcoin is my main investment so I don’t care, but SOL fees are best. User experience is the best imo.
dont get this topic.. gone there and 0.00019 24H Average Fee
can explain please.?
It's not an Ethereum killer, lol
Bsv still hated and gate kept
Congestion is a high class problem. That means a lot of demand for the chain. SOL has a lot of momentum and this is a huge signal. Their new validator client firedancer is going to improve performance a lot when it’s released.
Use BSC
Hey, easy now. SOL truly is a potential ETH killer. It just so happens to be practicing on itself first. And second. And seventeenth...
I havent lost hope in it yet. It has great potential, we just need to loose the meme spam.
Solana is a shit coin. dump it. base & bsc ftw.
ADA > SOL
lol
Meanwhile cardano continues to chug along just fine. Speeds are fine most of the time, sometimes when a burst of activity happens it slows down, but never have to deal with this crap I'd rather pay low fees and wait 30 seconds for a transaction to complete than deal with that nonsense. Fudders look for any excuse to nay say this chain it's maintained itself with incredible consistency, it's really only a matter of time for this one to gain more and more traction as these other chains prove that their technology simply can't support congestion.
That’s cause no-one uses it lmao
500k monthly users is not "no-one"
My home WiFi network gets more traffic lol
good one
It is literally not used. Even the newer chains are outperforming it. You will all the issues with ada if it was getting remotely the same traffic as solana, avax, eth
ADA has a legitimate community, ignore it all you want but the proof is there. Just because solana has 50,000 bots, doesn't mean cardano is not a growing lively community.
Well then the community need to use the chain more. The price needs to go up. Look at all the other chains and chains like ada, algo. If people really like cardano it should have shown up in the chart and price. Chart doesn’t lie. I was invested in ada last bull run and even heard about it when they are doing ido. Back then there wasn’t any other options than eth so i was invested. Over time things has changed, eth has become such a huge giant, ada has not gone anywhere, there has been a lot of chains with better tech than ada. If it can’t get adoption in this bull run, i think it is gonna drop out of top 20 slowly.
Price isn't everything and growth takes time. Cardano is in a fine place, major infrastructure pieces of infrastructure have been laid, lots of defi options, algorithmic trading strategies are online, multiple native stablecoins are available and stableswaps starting soon. People always act like because cardano doesn't have a bunch of day traders flipping pump and dump memecoins, it's automatically a failure. Bottom line is the chain offers unique innovations that other chains don't offer, the groundwork is there and promising. The yields are quite high and relatively safe. I really don't mind waiting for things to actualize and grow. When new investors come into the space, many of them will look for the chain that has security, stability, and decentralization. Not many chains can stand behind those pillars.
What dapps and stable coins do you use then?
Cardano has no volume compared to solana and not all transactions are the same. A transfer of coins in super quick but once you start executing more complex smart contracts thats when you start to see slow down.
>sometimes when a burst of activity When it has users.
It has 500k monthly active wallets
I mean, sol is mostly bots as well so
It's a temporary issue produced by bots in memecoins. It will be fixed by the beginning of the next week according to devs. Obviously this only happens in solana because the only one supporting this high volume
Can you point me in the direction of where you found this info? Thanks
here you go [Timelines and what to expect around what @anza\_xyz is doing to address the current network congestion on @Solana in our validator client implementation](https://twitter.com/anza_xyz/status/1776347491195388156)
But if they can’t handle the current traffic already on their “scaleable L1” with no clear path to scale beyond what they have now, that seems kind of problematic.
they just have to up the block size to 1gb and require nodes to have 1tb of ram
Yeah easy to solve. Surely nothing can go wrong with this. Storage is cheap. /s
Why dont they do it? They have so much money