The cryptocurrency Solana gets trolled as it suffers another major network outage. The effects of the same can also be seen in the price of the SOL token. This is also not the first time this is happening which makes the outage even worse as it further questions the reliability of the Solana network. Some crypto enthusiasts also tweeted that:
“How is this proof-of-stake blockchain in the top ten crypto list?”
What happened to Solana?
On 25th February, the Solana blockchain network started to face some major issues. The block finalization became slow, and at the same time, a lot of transaction failures were happening. When people took to Twitter, an official from Solana said that they were working to restart the network to fix a bug in the 1.14 version of Solana. The bug resulted in delayed block confirmations. And many are guessing that the block happened due to a “fat block” which clogged up the blockchain’s working.
This resulted in two major changes in the market. Firstly, Solana lost about 4% in the 7-day performance. Plus, its trading volume also dropped by 16% as users bought and sold only $500 million in Solana.
Solana’s bug track
Solana is a high-performance blockchain platform designed to support decentralized applications (dApps) and provide fast and low-cost transactions. Like any other blockchain network, Solana can experience network outages or downtime due to various reasons, such as software bugs, network congestion, or hardware failures.
In the past, Solana has experienced several network outages that have affected its performance and caused inconvenience for its users. For example, in December 2020, Solana’s mainnet went offline for several hours due to a software bug. In June 2021, the Solana network experienced another outage that lasted for about 15 hours and was caused by a flood of transaction processing that overwhelmed the network’s capacity.
Solana’s development team and community are continuously working to improve the network’s performance and prevent network outages. They are also exploring various solutions, such as sharding and cross-chain interoperability, to enhance the network’s scalability and resilience. However, the crypto network is still far from perfect.
What are your thoughts as Solana gets trolled after another major network outage? And do you think this is going to be a never-ending problem? Let us know in the comments below. And, if you found our content informative, share it with your family and friends.
Also Read:Â Circle CEO suggests stablecoin regulation should not be assigned to U.S. SEC.
