- Coinbase CEO Brian Armstrong apologized for Solana disruptions, confirming transaction backlogs are resolved and canceled transactions can be retried.
- Armstrong pledged to enhance infrastructure to support Solana use cases like DEX and memecoin trading with tier 1 service.
- Critics highlight Coinbase’s repeated struggles during demand surges, emphasizing the need for scalable and reliable technical systems.
Coinbase CEO Brian Armstrong has offered an apology to users after a system failure affected Solana transactions for several hours. Coinbase users have been experiencing delays and cancellations for deposits and withdrawals due to the high demand Coinbase cannot handle, which happened in the case of Solana.
The matter was posted on social media by Armstrong who assured that the backlog of transactions has been cleared and the system is running as expected. He apologized for the problem experienced by the users by informing them that canceled transactions can now be retried without any hitch.
Solana backlog sheds light on Coinbase’s scaling problem.
In a statement, Armstrong said that Coinbase needs to bolster the technological infrastructure to manage Solana and other upcoming blockchain networks effectively. He noted the importance of scaling infrastructure to handle high-traffic periods efficiently and pledged to provide Solana with “tier 1” support similar to what Coinbase offers for Bitcoin and Ethereum.
Additionally, he mentioned the exchange’s commitment to supporting native Solana use cases such as decentralized exchange (DEX) and memecoin trading. However, specifics about the timeline or implementation of these improvements were not provided.
Community Skepticism and Calls for Action
Members of the broader crypto community have doubts as to whether Coinbase will effectively address existing technical issues. Panic among users swept the network in the past as the platform has been accused of suffering from scaling issues in previous bull markets.
Responding to these concerns, Armstrong acknowledged the surge in Solana activity as a positive development for the ecosystem but admitted Coinbase’s responsibility to better serve its users. He reiterated the exchange’s commitment to enhancing customer experience and operational reliability during periods of high demand.
