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Solana's 2024 Year In Review | Weekly Roundup

5 snips
Dec 27, 2024
This week highlights Solana's significant ups and downs in 2024, including chaotic airdrop experiences and blockchain outages. The discussions reveal a landscape shaped by meme coins, institutional trust challenges, and recent developments in risk management. Anticipation for 2025 fuels debates on integrating AI and navigating evolving regulations. The episode emphasizes community engagement as crucial for Solana's future, while exploring innovative ideas that could redefine its role in the crypto market.
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ANECDOTE

Solana's February Outage

  • Solana experienced a significant outage in February 2024 due to a known bug, not performance issues.
  • This was frustrating because the fix was available but not prioritized, delaying the removal of the "beta" tag.
INSIGHT

Stakes of Solana Outages

  • Solana outages have high stakes due to potential liquidations and exploits, especially as the network grows.
  • The larger a blockchain becomes, the greater the potential losses from downtime, increasing the need for risk aversion.
ANECDOTE

Solana's Transaction Congestion Issues

  • In early April 2024, Solana faced transaction congestion issues exacerbated by a known RPC exploit.
  • Mert Mumtaz and his team at Helios identified the issues and helped mitigate the impact, becoming a top validator.
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