Solana tagged as “Ethereum Killer.”
Solana happens to be a public blockchain network that has an ecosystem of cryptocurrency. Crypto developers and technicians went on to develop the blockchain at Solana Labs. The major features of the block chain are providing quick transactions, robust security algorithms and processing transactions at less fee.
Since, the emergence of cryptocurrencies, bitcoin and Ethereum have consistently dominated the market. While bitcoin is way ahead in terms of value from Ethereum, Ethereum was able to capture a large market in the crypto sphere. But, after the emergence of Solana, the position of Ethereum is considered to be at stake. Many of the problems that Ethereum users face are efficiently solved by Solana. Considering the fact that Solana is a both POS and POW blockchain and more eco-friendly, it has been given the tag as the “Ethereum Killer.”
Solana’s consistent outage.
Solana which is quoted as the Ethereum Killer has faced consistent outage issues from January. The outage resulted in reducing the value of the cryptocurrency by at least 12%. Lets look at a tweet below.
Earlier today a bug in the durable nonce transactions feature led to nondeterminism when nodes generated different results for the same block, which prevented the network from advancing.
— Solana Status (@SolanaStatus) June 1, 2022
From the tweet, it is evident that Solana was again halted recently. The last outage which happened for 7 hours was on May 1st. Following the outage there were heavy transactions occurring from the investors to save their funds. But, another outage for 4 hours struck Solana.
The most recent Outage!
Solana was again halted in the most recent outage for 4 hours. Solana said that, A bug, earlier from today, in the durable nonce transactions feature led to nondeterminism when nodes generated different results for the same block, which prevented the network from advancing.
The outage was resolved and Solana was restored after 4 hours of halt. Several investors, users started showing their angst on social media channels about the cryptocurrency. Many of them were of the view that Solana should invest in finding a long-term solution for eradicating the outages which have become common in occurrence.
Since, the outage, Solana was dropped by 12% and started trading at $39. This was one of the major backlashed and issues that Solana is facing in its pursuit to replace Ethereum. Whether Solana will be able to find a long-term solution to reduce the outages? Only time will tell!
Writer’s report:
It is true that, Solana promises to offer more value to the investors of Ethereum and is on process trying to replace the cryptocurrency. But, outages like these, especially the one which happened in January which was for at least 18 hours, can damage the chances of Solana to replace Ethereum. The issue of outage has to be stopped and eradicated for Solana to constantly evolve as the best cryptocurrency in the world.
