Mert Mumtaz, CEO of Helium Labs, a gaggle that describes itself as Solana’s high RPCs, APIs, knowledge, nodes, and developer assist, referred to as out Coinbase executives on the social media platform, X. Mumtaz criticized them for statements that he perceived to be makes an attempt to place Base as a superior community to Solana.
The previous weekend has been one of many busiest for crypto this 12 months. The launch of the TRUMP and MELANIA tokens sparked a frenzy amongst customers because the memecoins shortly amassed historic market cap valuations in document time.
The values of the tokens have fallen by 50% since then. The surge in exercise led to community congestion and transaction delays.
Because the memecoin frenzy settles, Coinbase’s Jesse Pollak and Helius Labs’ Mert Mumtaz have additionally discovered the time for a social media trade that acquired heated shortly however was in the end resolved graciously.
Blockchain executives conflict publicly
Following the launch of the $TRUMP and $MELANIA memecoins, the Coinbase trade and Solana networks skilled substantial congestion that led to transaction delays of as much as 21 hours.
In a put up on his X social media account, Mumtaz identified how he discovered it ironic that Coinbase executives had been placing Solana down after they didn’t deal with Solana transactions throughout “crypto’s largest weekend.”
The CEO went additional to accuse Base of utilizing “backroom ways” to lure customers from Solana to Base. He even implied that they usually advised groups behind closed doorways that Base is a long-term answer whereas Solana is a short-term repair.
Jesse Pollak, head of Coinbase’s base initiative, responded on to Mumtaz’s claims. “I’m the founding father of Base, and it’s my job to make Base profitable,” Pollak wrote.
In a sequence of tweets, Pollak famous the efforts of the Coinbase government staff to handle and resolve the scaling challenges. He additionally acknowledged that whereas Base does compete with Solana, it’s the form of wholesome competitors that encourages progress and innovation within the crypto area.
Mumtaz ended the trade graciously by emphasizing that competitors ought to be sincere and clear with out undermining the work of hundreds of Solana builders.
“So long as we comply with compete actually with out false advantage signaling and backroom ways — I’m on board with that. Better of luck and let’s have some enjoyable pushing crypto ahead,” he wrote.
Community congestion and transaction delays
On January 18 and 19, President and First Girl Trump launched their memecoins, TRUMP and MELANIA.
The tokens went dwell on the Solana community and unsurprisingly drew a surge of exercise as customers raced to hitch the shopping for frenzy. This surge attracted over 200,000 new on-chain customers by Moonshot. It brought on community congestion and transaction delays, with some Coinbase customers being unable to finish their transactions for as much as 4 days.
In response to the outrage and chaos that ensued because of the delays, Coinbase CEO Brian Armstrong reassured customers that the staff was working across the clock to scale Coinbase’s infrastructure to higher assist Solana.
Regardless of the congestion, Solana’s community maintained 100% performance, indicating that the delays had been solely because of the inflow of customers and had nothing to do with the blockchain itself.
