Blockchain News- Solana is currently in a network outage and is unable to process transactions.
- Anatoly Yakovenko recently stated that the network disruptions were Solana’s “curse”.
Solana, the leading blockchain platform again suffers from a network outage. According to the recent tweet from the Solana team, the network is experiencing an outage and is unable to process transactions. Currently, the ecosystem’s developers are attempting to identify the problem and restart the network, as per the Solana team.
Solana is well-known for its frequent network failures.
Solana’s Continuous Shutdown
Due to its continuous Network outages of Solana, the platform’s co-founder, Anatoly Yakovenko recently expressed that the network disruptions were Solana’s “curse”. Its outages are caused by the network’s low-cost transactions.
Yakovenko stated:
That’s been, I guess, our curse, but it’s because the network is so cheap and fast that there are enough users and applications that are driving that.
According to the Solana co-founder, the disruptions have restricted its customers from using the network and the network itself has not been affected. He additionally claimed that every blockchain is constructed uniquely and has its failure case.
The previous network failure occurred in June, the platform suffered from a sudden shutdown for four hours and ten minutes. At that time, Solana’s native token, SOL, witnessed a sudden price fall of more than 12%.
There is no primary reason for the numerous disruptions this year. The two outages in April and May were caused by “stalled consensus,” while the June outage was caused by a runtime bug that allowed a failed transaction to be executed twice.
Moreover, Solana (SOL) is currently trading at around $32.95 with a one-day trading volume of $1,140,485,029. SOL has decreased by nearly 3.32% in the last 24 hours, as per CMC.
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Source: https://thenewscrypto.com/solana-network-down-again-unable-to-perform-transactions/