In a post on X, Vibhu Norby, the CEO of the Solana-based company Drip Haus, has painted a detailed picture of Solana’s recent journey through scalability challenges and significant user growth. His analysis sheds light on both the obstacles and the advancements within the ecosystem.
Why Solana Is In The Best State Ever
Norby begins by recounting the substantial increase in network activity that Solana experienced between December and April due to the memecoin craze. He describes this period as both “exciting and challenging,” with the network peaking at 160,000 daily active users (DAUs) and over half a million new users onboarding.
Despite the surge, Norby points out a downside to this rapid expansion: the influx of “many low-quality wallets,” which he accepts as an inevitable aspect of such growth phases in blockchain networks. The increased load led to severe network congestion starting on March 2, escalating to a point where the blockchain became “unusable for us and practically everyone else” by the end of March.
Norby describes this period as “very sobering” for all developers involved with Solana’s decentralized applications (dApps), prompting a scramble to deploy solutions that were originally slated for a later stage. “The intense growth and then pullback pushed us to build fast and rush our scaling solutions to market that were probably normally a year out,” he explains.
Despite these challenges, the CEO’s tone shifts to one of optimism as he discusses the current state of Solana. “Now we sit at the door of the next phase, all the big puzzle pieces we envisioned are around the corner,” Norby notes, indicating a turning point for the network.
He reports that all key metrics have stabilized, with the network maintaining an impressive count of approximately 100,000 DAUs. He emphasizes Solana’s continued dominance in the crypto and collectibles space, highlighting its standing as “the biggest consumer product in crypto and collectibles by a wide margin.”
One of the most significant changes Norby highlights is the improvement in product quality, which he credits for the “incredible growth” in what Drip Haus refers to as “p5 DAUs.” This measure tracks the most engaged users who utilize the product as intended. Norby reveals that this group now consists of 25,000 daily users, describing this as the kind of dedicated user base “you dream of having for a consumer app.”
Mert Mumtaz, CEO of Solana based Helius Labs recently also celebrated Solana’s success in terms of DAUs. He remarked, “I’m generally against DAU metrics for blockchains (especially low-fee ones) but *returning* DAUs (meaning not new addresses via sybil) is useful to look at and that seems to be the highest it’s ever been in Solana history.
Norby’s enthusiasm escalated as he discussed the near future: “And I am so pumped about the next few months. I will be loud about it and keep pounding the vision. Only up.” This sentiment underscores a strong confidence in the continued growth and enhancement of the Solana ecosystem.
At press time, SOL traded at $137.5, up 10.5% in the last 24 hours.
Featured image from Binance, chart from TradingView.com
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