Solana Suffers Outage And Tanks 16%. What’s Next?

Solana Suffers Outage And Tanks 16%. What’s Next?

The past few days may have weakened the image of Solana (SOL). High levels of network congestion brought a new outage to the network and SOL fell the hardest amongst the top 20 cryptocurrencies amidst the market crash. Here’s What Happened Last week, it was reported that Solana’s network was clogged, resulting in many failing transactions and DeFi users not being able to adjust their collateral positions to reflect the new valuation of the coin amidst the crypto market fall. In a Solana blog post, the team explained that the incident experienced by validators was due to....


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Scalability or stability? Solana network outages show work still needed

Solana’s outages could be interpreted as mere hiccups in a new blockchain, but some suggest there’s cause for concern. Solana is a highly scalable decentralized blockchain developed with a unique method of ordering transactions that significantly improves its transaction throughput, to the point that it has consistently been processing over 2,500 transactions per second. It claims to be able to process 50,000 transactions per second.The power of Solana’s cheap transactions is felt when it’s time to pay transaction fees, with users being able to move funds on the network for a fraction of a....