Jupiter Aggregator is a Defi tool on the Solana network that helps users find the best prices for their cryptocurrency trades. It works by searching across different decentralised exchanges (DEXs) to offer the most efficient way to swap crypto tokens. This helps users save time and money by ensuring they get the best possible deal when trading on the Solana network.
In recent days, Solana networks have been facing significant adoption challenges due to an 83% failure rate on transactions processed through the Jupiter Aggregator. Over 8.56 million transactions failed in a single day, while only 1.75 million were successful. This high failure rate has resulted in users being charged an average of $6,334.4 for failed transactions.
Solana Jupiter Aggregator in the last day has a 83% failure rate on all transactions. @JupiterExchange
Successful Transactions = 1.75 million (16.9%)
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Failed Transactions = 8.56 million (83%)
83% of every transaction through Jupiter in the last day has failed.
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Some crypto experts noted that the Solana network’s structure has led to users being front-run by bots, benefiting only validators and RPC endpoint operators. This situation has raised concerns about the sustainability of Solana’s network and its long-term adoption prospects.
Some crypto enthusiasts have noted that the high transaction failure rate and associated costs on Solana’s network could deter new users, impacting the network’s growth and adoption. The crypto community is calling for improvements to prevent further exploitation by bots and validators, ensuring a fairer environment for Solana network users.
Solana Network & Transaction Failures
The relationship between the Solana blockchain and transaction failures has been ongoing for some time. The first major Solana network outage occurred in late 2021, and since then, the network has experienced around 12 significant failures. During the last bear market, Solana community developers dedicated significant efforts to fixing these issues. However, now the problems have extended to top DeFi protocols.
While Solana is known for its efficient transactions, the high number of bots exploiting this efficiency is negatively impacting adoption by regular users.
Read also: Santa Monica Unveils Bitcoin Office to Fuel Job Growth and Economic Innovation
Solana Network Faces Adoption Challenges Amidst High Failure Rate on Jupiter Aggregator
https://bitcoinik.com/solana-network-faces-adoption-challenges-amidst-high-failure-rate-on-jupiter-aggregator/feed/
https://bitcoinik.com/solana-network-faces-adoption-challenges-amidst-high-failure-rate-on-jupiter-aggregator/feed/
