Solana’s developers have been trying to discourage unnecessary, faulty transactions from the blockchain for a long time, which are made by masses of arbitrage bots. Despite this, a significant part of the network’s computing capacity is still tied up in such transactions. At least that’s what a recent analysis by Jito Labs claims. During a recently analyzed 2.5-day period, 60% of Solana’s total computing capacity was tied up in arbitrage transactions.
The fight against arbitrage bots will take some time on the Solana network
In addition, 98% of the transactions examined were not completed, as the bots tried to generate a minimal profit with two buy and sell transactions executed within a very short period of time. And according to Jito Labs, the result of this is that space is wasted in a lot of blocks, and money is also enough in this case. The problem is caused by Solana’s infrastructure. After all, it always gives priority to the first transaction sent. Thus, arbitrage bots try to start several duplicate transactions at the same time, trusting in their success. And although a few changes were made to Solana’s infrastructure to block these spam transactions, it didn’t really work.
Because while priority fees have helped some, as long as the maximum extractable value (MEV) opportunities remain, bots will also push on Solana. The essence of MEV is that it rearranges the order of transactions. In order for the user to benefit from having their transactions approved before or after other transactions. In Ethereum, the slower structure and the importance of fees basically help in the fight against this kind of spam transactions. Of course, the situation is not completely clear there either. According to the plans, a client will be introduced for Solana as well, which will help optimize the MEV possibilities, but this is still a long way off.
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