Many thought that Solana\u2019s congestion issues were behind it, but the network has something different to say.<\/p>\n
On April 4, more than 75% of transactions on Solana<\/a> were unsuccessful, topping the network\u2019s previous all-time high of 70% registered the previous day.<\/p>\n The figures refer to non-vote transactions, which are SOL movements between Solana accounts, likely between bots that are spamming the network in search of arbitrage opportunities. According to a Dune dashboard<\/a>, more than 50% of transactions on April 4 were created by bots, in what appears to be an ongoing problem in the Solana ecosystem.<\/p>\n Mat\u00edas Barrios<\/a>, security researcher for Solana, thinks it\u2019s difficult to end spam on the network because transactions have a fixed cost. He explained to The Defiant that \u201ca simple or complex action on the network costs the same for a user,\u201d leading inevitably to spam.<\/p>\n <\/p>\n SOL, the network\u2019s native token, has plummeted nearly 7% today, trading for $174. That said, the token has been on a rocketship since last year, gaining more than 700% since April 2023.<\/p>\n Solana has been dealing with an inordinate amount of network activity in recent months, most of it fuelled by memecoins<\/a>. After substantial work since early 2023, along with overcoming its ties<\/a> to the now-defunct FTX exchange, which caused a 70% drop in TVL, the ecosystem revived itself, surging to the top 5 by market cap on Coingecko.<\/p>\n Decentralized exchanges on Solana have skyrocketed<\/a> in activity, topping all-time highs in March, when the ecosystem processed $59 billion of DEX trades.<\/p>\n April 4 also saw the arrival of a Bitcoin-like mining protocol on Solana.<\/p>\n Dubbed Ore, it uses the same idea behind Proof of Work<\/a>, where a miner solves a cryptographic problem to secure the network, earning tokens in return.<\/p>\n <\/p>\n Start for free<\/a><\/div>\n <\/p>\n Ore miners can take home a share of 1 ORE per minute, distributed by the number of \u201cpuzzles\u201d they each solve.<\/p>\n Activity on Solana exploded with Ore, sending the token from a near-zero price to nearly $10,000 per Ore. The token currently trades for $1,879.<\/p>\n Mert Mumtaz, CEO of Helius Labs, a Solana-based developer platform, claims that the large amount of unsuccessful transactions shows that the system \u201callows<\/a> for too much spam with negligible economic activity.\u201d<\/p>\nBitcoin-like Mining<\/h2>\n
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![\"ORE](\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2Fafbdc4970a57113019718260d812bd76a64b2206-1012x433.jpg&w=828&q=100\")
“Bots Spam Better”<\/h2>\n