Critics Question Solana’s Transaction Metrics Amid ETF Growth and Snorter Launch
Concerns have emerged regarding Solana's transaction statistics, particularly from Cardano SPO Dave, who claims that bots inflate the network’s transactions per second (tps) figures. He highlighted that a single bot generated nearly 11 million transactions in 30 days, with 99.95% failing, raising issues about data integrity on the blockchain.
Supporters counter that even after excluding failed transactions, Solana maintains robust throughput. Key points include:
- Kazakhstan's Astana International Exchange has launched the first $SOL ETF with staking in Central Asia.
- VanEck filed for a spot Solana ETF backed by JitoSOL.
- Snorter Token ($SNORT) plans to utilize Solana's speed and low fees for its Telegram trading bot, enhancing its appeal to investors.
Despite skepticism, Solana is recognized for its processing capacity, with average speeds of 923 tps and a maximum of 65K tps, significantly faster than Ethereum's average of 19.87 tps. Notably, Solana increased its block size from 50M CUs to 60M CUs, providing additional capacity.
The growing institutional interest through ETFs signals an expansion of Solana's credibility beyond Web3 users, positioning it favorably for projects like Snorter Bot, which aims to launch on Solana while supporting other major networks in the future.
In summary, despite criticisms regarding transaction failures, Solana continues to grow in institutional recognition and offers an advantageous environment for emerging projects like $SNORT as they leverage its speed and cost-effectiveness.