Coinbase pledges to improve infrastructure to accelerate Solana transaction processing

ChainCatcher news, according to The Block, users have recently expressed concerns about delays in processing Solana transactions on the Coinbase platform, with some withdrawals and deposits delayed for up to 10 hours or even failing. In response, Coinbase CEO Brian Armstrong stated that the exchange is working to address the challenges posed by the current surge in Solana activity and apologized for the inconvenience.

Coinbase explained that the volume of Solana transactions has surged to 10 times the usual amount, causing its systems to be unable to verify and process transactions in a timely manner. Currently, withdrawals may take up to 24 hours to complete, and deposits are delayed by about 6 hours. Coinbase plans to collaborate with the Solana Foundation to upgrade its infrastructure, expecting delays to gradually improve in the coming days, and assures that all user assets are safe and secure.