Solana’s network fell for the seventh time… Find out why!
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Answer Solana’s network fell for the seventh time… Find out why!
Solana’s network, one of Ethereum’s biggest competitors, fell for seven hours after its main bet fell out of line, according to Austin Federa, head of communications at Solana Labs.
According to “You Today”, the network has returned to online mode, and successfully completed the group’s reboot at 3:00 AM GMT.
Solana suffered outages due to the huge number of incoming transactions which led to a network blockage, as the network processed 100 gigabytes of data per second.
Candy Machine, an app designed to mint non-fungible tokens, was the main reason behind the long hiatus.
Some users criticized Solana for censoring NFT bots that kept the network down for seven hours.Read:The most important points mentioned by the president of the US Securities and Exchange Commission about digital currencies
Solana emerged as one of the best Ethereum competitors in 2021, due to its high throughput and extremely low fees.
The repeated fall of “Solana”
The fledgling network suffered technical hiccups last January, falling to as many as 6 outages, to face widespread derision from the cryptocurrency community.
Solana also fell for 18 hours last September, making its market value lose more than $20 billion.
According to Solana’s website, the network suffered a “partial outage” on January 21, 2022 and January 22, 2022.
What is Solana?
Solana Coin is a blockchain platform for decentralized applications and is an open source project maintained by the Geneva-based Solana Foundation.
Built and developed by developers at Solana Labs in San Francisco, this platform rivals Ethereum, which is currently the largest DAP, thanks to its promise of a faster operating system and lower transaction fees.
Solana is a Proof of Stake platform, which makes it more environmentally friendly than a Proof of Work blockchain like Bitcoin. Solana’s native cryptocurrency is also called Solana and has an SOL index.
Solana prioritized smart contracts, which are software stored on the blockchain that run when pre-defined conditions are met in such a way that deals are automated so that all parties are certain of the outcome. And that without the intervention of any intermediary and in a way that speeds up the process.Read:The value of the GBTC Bitcoin Fund drops by a record -35%
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“Avalanche” records a decline of more than 30% during April, and its market value falls to less than 16 billion dollars
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