Token launches and new projects are being postponed due to ongoing technical issues with Solana's network congestion and transaction errors.

Solana developers are actively working on resolving these issues, aiming to implement fixes by April 15. Users have been experiencing increasing difficulties related to network congestion and transaction errors over the past few weeks, prompting many new projects, particularly those planning token launches, to delay their plans until the technical challenges are addressed.

Among the projects that have postponed their launches are Suit Up, a nonfungible token (NFT) project, DuckCoin, an altcoin project, and Surge Finance, a Solana staking rewards platform.

Anza, a Solana-focused software development shop, has outlined plans to tackle network congestion through its Solana validator client implementation, Agave. Initial investigations suggest that issues with QUIC implementation, a transport layer network protocol, are at the root of the problem. Anza engineers are working diligently to diagnose and resolve bottlenecks to improve network performance in the coming months.

While Solana investigates these issues, users have reported delays in sending SOL tokens on exchanges like Coinbase. However, trading and fiat withdrawal and deposit functionalities remain unaffected by the ongoing technical challenges.

Solana's co-founder, Raj Gokal, has clarified that the network's scalability is not the cause of the failed transactions. Despite criticism surrounding transaction failures, Fantom network creator Andre Cronje has voiced support for Solana, attributing the congestion to the rapid growth of the ecosystem, which has led to increased demand for block space.

Cronje emphasizes that these performance issues are technical challenges rather than flaws in the consensus mechanism, describing Solana as a victim of its own success. The recent surge in transaction failures has sparked frustration among Solana users on social media, highlighting the importance of resolving these technical issues promptly.