The network of Solana blockchain is now restarted and now Solana blockchain ecosystem users can use the network to transfer & trade digital assets.
Solana is a popular Proof-of-stake consensus-based crypto blockchain network. This blockchain network is popular because of the Proof-of-history protocol, which allows the network to process transactions at very high scalability. Solana network is not only scalable but also efficient, where we can transfer crypto assets at an average cost of $0.00025. In the last 2 years of time, the network successfully processed more than 100 billion transactions, which is a very big number for any crypto blockchain network.
On 31 September, Solana Network experienced some issues and the network stopped processing transactions.
SolanaStatus Twitter Account said:
“The Solana network is experiencing an outage and not processing transactions. Developers across the ecosystem are working on diagnosing the issue and restarting the network.”
On 1 August, the Solana network was restarted by the continuous efforts of devs & support of SPOs.
This was not the first time when the network experienced an outage but already network faced multiple outages from 2021 to 2022.
Due to multiple times outages in the network of Solana blockchain, Solana blockchain developers team faced significant criticism in the crypto Industry. Sol, a native token of the Solana blockchain, plunged badly from $259 to $30, within the last 10 months of time frame.
The current price of a Sol token is $33 and this price is down by around 80.46% over the last 12 months of trade value.
Read also: It’s no surprise that crypto firms still seeking to get a license in the UK, Says FCA official
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