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Jito Labs report reveals Solana’s inefficiency in preventing failed transactions

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It is reported that according to the analysis report of Jito Labs, an encryption infrastructure company, although Solana developers are trying to prevent garba…

Jito Labs report reveals Solana’s inefficiency in preventing failed transactions

It is reported that according to the analysis report of Jito Labs, an encryption infrastructure company, although Solana developers are trying to prevent garbage transactions that may threaten the network stagnation, most of the network’s computing is still wasted on failed transactions.

Report: Solana on-chain arbitrage trading is taking up a lot of block space

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Jito Labs, an encryption infrastructure company, has released an analysis report highlighting the inefficiency of Solana’s network in dealing with failed transactions. According to the report, despite efforts made by Solana developers to prevent garbage transactions that may cause network stagnation, a significant amount of the network’s computing power is still being wasted on failed transactions.

Solana, a blockchain platform designed for decentralized app (dApp) development, claims to be the fastest blockchain in the world, with a transaction throughput of up to 65,000 per second. However, such a high throughput rate requires a lot of computational power, which can lead to network congestion and failed transactions.

To address this issue, Solana has implemented a mechanism called “Proof of History” (PoH), which aims to improve the efficiency of block confirmation and reduce the risk of network congestion. PoH creates a historical record of all transactions in the network, enabling nodes to quickly verify the validity of a new transaction.

However, according to Jito Labs’ report, Solana’s PoH mechanism is not enough to prevent failed transactions. The report shows that the network spends a significant amount of computational power on failed transactions, which not only wastes resources but also slows down the network’s operation.

The report suggests that a possible solution to this problem is to implement a fee structure for transactions, similar to what is used in traditional financial systems. By charging a small fee for each transaction, users will have an incentive to only perform necessary transactions, reducing the number of failed transactions and increasing the efficiency of the network.

In conclusion, Jito Labs’ report sheds light on the inefficiencies of Solana’s network when it comes to preventing failed transactions. While Solana’s PoH mechanism is an innovative solution, it is not enough to completely eliminate the problem of network congestion. The report’s suggestion of implementing a fee structure for transactions may be a viable solution to address this issue and increase the network’s efficiency in the long run.

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