Layer-1 blockchain network Solana has surpassed 100 billion total transactions, defying known outage issues to hit the new milestone. According to data from Solscan, the network hit the milestone while handling around 2000-3000 transactions per second (TPS).
On-chain data further showed that the network had 2,200 consensus node validators at the time of reaching the new milestone. The latest validator count represents a mild increase to 1,915 validators reported by the Solana Foundation in August.
According to another report also released last month, the layer-1 network achieved a peak of nearly 13,000 TPS on the testnet, offering a glimpse of how the network can scale in the near future.
Solana’s Growth
The network’s current milestone is possibly due to its extensive use cases in recent times. Among the several projects built on the Solana blockchain that have contributed to bolstering the use of the network, the non-fungible token (NFT) collection, y00ts, seems to stand out.
The NFT collection, which generated a lot of hype in the crypto community on Twitter, is currently the leading NFT collection by trading volume on the Solana mainnet.
Solana Scales Through Tough Times
Despite the recent setbacks faced by the Solana network, it has seemed to keep its balance. One of the major problems it faced was a severe hack in August where the bad actor(s) exploited a critical bug on a Solana-based wallet provider and made away with $6 million worth of funds.
Prior to that, Solana Mainnet has been experiencing network outages. The most recent downtime, which occurred in June, saw a lack of consensus on validating nodes, leading its developers to shut down the mainnet.
Even with the aforementioned setbacks, the native asset of the Solana blockchain, SOL, continues to hold on to the $30 mark, amid a broader market decline. At the time of writing, SOL traded at $31.8, representing an 87% decrease from its all-time high (ATH).
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Source: https://coinfomania.com/solana-network-100-billion-transactions/