Smart contract blockchain Solana nearly froze Wednesday, Marinade Finance says

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Solana's smart contract blockchain is experiencing a near freeze, according to Marinade Finance, citing a 99.8% decrease in transaction processing and a significant backlog of unconfirmed transactions, with over 1,000 blocks pending validation. This has resulted in slow network performance and high fees, causing disruptions to users and applications reliant on the Solana network, impacting the broader decentralized finance ecosystem.