Phantom Wallet Faces Downtime, Users Speculate on Solana-Related Disruption

Azeez Mustapha


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Phantom Wallet, a prominent platform on Solana, is currently inaccessible, with several users experiencing issues submitting transactions.

Phantom Wallet, the primary Web3 wallet in the Solana ecosystem, is reportedly experiencing downtime, adding to the recent series of outages affecting the Proof-of-Stake (PoS) layer-1 blockchain network.

Insights into the Phantom Wallet Outage
As per reports from members of the Solana and Phantom Wallet communities, the web version of the wallet doesn’t display submitted transactions, and users are encountering difficulties in submitting transactions without clear reasons.

While numerous users have confirmed the outage, it seems the app’s unavailability isn’t widespread. Some users report successful transactions, albeit with challenges accessing their accounts.

Independent Crypto Journalist Colin Wu shared a screenshot showing a “no data” message on the wallet’s overview page. So far, Phantom Wallet hasn’t officially addressed these outage reports, suggesting the downtime isn’t widespread at this point.

The wallet has encountered downtime before, especially being integrated with Solana. In February, it was hit by a DDoS attack, causing a temporary pause in transactions and services. Despite these setbacks, Phantom Wallet has seen significant growth alongside Solana.
Phantom Wallet Faces Downtime, Users Speculate on Solana-Related DisruptionRecently, it reached a milestone of 4 million monthly active users, potentially leading to increased congestion on its platform. As a key player within the Layer-1 blockchain, Phantom Wallet faces its fair share of associated hurdles.

A Lasting Solution to Solana’s Outage Challenges
As Solana continues to expand its network and SOL establishes itself as a leading digital currency, the Solana Foundation is actively seeking solutions to address the recurring outages it faces. Recent reports indicate that the foundation is considering implementing priority fee payment as a standard for applications developed on the network.

Furthermore, the upcoming design enhancements aim to utilize the optimization of total compute units (CU) usage. This innovation aims to boost the network’s capacity to handle more transactions, thus improving its overall throughput and scalability.

While many experts remain optimistic about Solana and its technological advancements, there’s a consensus that the ongoing outage issues could hinder its ability to surpass Ethereum if left unresolved.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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