Can Solana become the dominant PoS chain despite persistent outages?
The Solana network seems to be battling persistent outages while seeking to address the industry’s blockchain trilemma. Like most new-age networks, Solana was developed to resolve major issues confronting the blockchain industry. While the network has addressed some of these issues by its very nature, it has also encountered a few unique problems.From resource exhaustion to a halt in block confirmation, the Solana network has suffered a number of setbacks that resulted in repeated power outages, causing the network to shut down for hours on several occasions.The network went down on....
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The high-speed smart contract platform has suffered full or partial outages at least seven separate times over the last twelve months. Network outages continue to be the Solana network’s biggest challenge, according to its co-founder Anatoly Yakovenko.Launched in 2020, the Solana network has suffered a number of network outages, which have come from a number of different congestion and spam events, according to Yakovenko. In a Sept. 2 interview with Real Vision co-founder Raoul Pal, Yakovenko said the network outages had been Solana’s “curse,” but said the outages have resulted because of....
SOL price has been repeatedly knocked down by network outages, a shrinking total value locked on the network and futures traders’ disinterest in trading the altcoin. The past thirty days have been an extremely bearish time for cryptocurrencies. The sector's aggregate market capitalization plunged 33% to $1.31 trillion and Solana's (SOL) downfall has been even more brutal. Currently, SOL has seen a 50% correction and trades at $51.Solana/USD price at Coinbase (blue) vs. altcoin capitalization (orange). Source: TradingViewThe network aims to overcome the Ethereum blockchain's scalability....
In 2022 the blockchain has suffered from ten partial or full outages along with slow block times and Solana’s co-founder said it’s “not the experience that we want to deliver.” Solana (SOL) co-founder Anatoly Yakovenko says the past year has been mired by the network's reliability issues and outages, but recent updates will help the blockchain resolve its reliability issues. During the Breakpoint 2022 annual conference in Lisbon, Portugal on Nov. 5, Yakovenko discussed the past and future of the blockchain, noting the network has faced difficulties over the past year:“We've had a lot of....
January has been a tough month for Solana as the coin encountered a total of six outages. This time Solana again faced a downtime as there has been an increased number of transactions flooded by the Candy Machine NFT bots causing network congestion. Blockchains often have an issue with scaling as they are quite inept […]
On June 1, 2022, the Solana network halted block production again as the blockchain network has stopped working a number of times during the network’s lifetime. According to the Solana status update, validator operators are being asked to prepare for a restart. Solana Continues to Be Plagued by Outages, SOL Downtime Denounced by the Crypto Community The blockchain network Solana (SOL) is down again as the network has been halted by the development team. The Twitter account Solana Status (@solanastatus) tweeted about the incident on Wednesday at 12:56 p.m. (ET) and the Solana status....