Solana network faces degraded performance for the second time this week

The Solana blockchain has faced its second network performance degradation incident this week. This is happening because of a rise in high compute transactions.

The network capacity, which was originally advertised to be 50,000 transactions per second (TPS), was reduced to several thousand TPS. Solana cited this as the reason why users experienced failed transactions and added that its developers are already working to fix the issues.