Solana illustrates the dark side of monolithic blockchains

Modular blockchains might lead to a poor user experience, but — unlike Solana — they remain functional even during high-demand periods.

Modular blockchains might lead to a poor user experience, but — unlike Solana — they remain functional even during periods of high demand.

Think of it as fuel, but for a decentralized economy. Like all scarce assets, secure blockspace has a limited supply. But demand fluctuates, so the ultimate arbiter of who gets to use it is price. Welcome to the current state of Solana. The monolithic chain experienced spiking demand during the memecoin mania in recent months, leading to high transaction failure rates. Users adopted by trying to submit their transactions over and over, exacerbating the problem. Solana doesn’t have a network mempool, but it now has a de facto queue.This is what you’d expect to happen if secure blockspace is priced too cheaply.

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