Coinbase CEO Brian Armstrong introduced on Wednesday plans to enhance the platform’s help for Solana (SOL) following the decision of latest transaction delays that affected customers.
We’ve the Solana backlog triaged, and transactions ought to generate rapidly once more. In case your transaction acquired canceled you may retry it now – apologies for the difficulty.
It’s clear we have to step up our sport on Solana, scale our infrastructure, and supply native help for…— Brian Armstrong (@brian_armstrong) January 22, 2025
In a press release on social media platform X, Armstrong acknowledged the problems and reiterated Coinbase’s dedication to offering complete help for the blockchain, akin to what’s already out there for Bitcoin (BTC) and Ethereum (ETH).
Solana’s Adoption Accelerates Amid Challenges
Solana’s adoption has surged lately, notably in DeFi, NFTs, and Web3 gaming.
Nonetheless, Coinbase’s latest struggles with Solana transactions have highlighted the challenges of managing elevated community exercise.
Armstrong referred to those points as “high-quality issues,” suggesting they mirror Solana’s growing utilization.
“Our purpose is to offer tier-1 help for Solana, with the identical stage of help as Bitcoin, Ethereum, and Base,” Armstrong stated, referencing Coinbase’s layer-2 blockchain, which additionally confronted delays throughout high-demand intervals.
“The surge in exercise is nice for the ecosystem, however we have to do a greater job serving our prospects in periods of excessive demand,” he added.
Armstrong’s dedication to tier-1 help for SOL alerts an infrastructure improve to help Solana’s fast progress.
Native help for DEXs and memecoin buying and selling might make Solana extra accessible to retail customers, addressing one of many major ache factors within the community’s adoption.
Solana’s exercise has been on the rise, pushed by its low charges and quick transactions, making it a go-to blockchain for builders and merchants.
By prioritizing Solana alongside BTC and ETH, Coinbase might solidify its place as a serious entry level for customers within the rising Solana sector.
On the time of writing, SOL is buying and selling at $267.67, reflecting a 6.09% enhance over the previous 24 hours and rating fifth according to Cryptonews data.
Coinbase CEO Backs International Bitcoin Strategic Reserves Initiative
Armstrong lately endorsed a proposal urging world leaders to create Bitcoin strategic reserves.
@brian_armstrong, CEO of @Coinbase, has publicly endorsed a proposal for world leaders to ascertain Bitcoin strategic reserves. #Bitcoin #Coinbasehttps://t.co/CU0FNese5m
— Cryptonews.com (@cryptonews) January 18, 2025
In a January 17 weblog put up discussing “financial freedom,” he highlighted cryptocurrencies as “the following chapter of capitalism” and outlined steps for governments to embrace digital belongings in 2025.
His suggestions embrace passing crypto-friendly laws, enhancing authorities effectivity, establishing particular financial zones, and adopting Bitcoin reserves to counter inflation.
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