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In the bustling world of cryptocurrencies, Solana, a blockchain protocol with a penchant for innovation, recently weathered a significant storm. A network outage, the first in This marks the first major outage for the network in over 351 days, raising concerns about the stability and reliability of Solana’s ecosystem. The Solana network is built Solana network down - All transactions halted for 52 minutes, affecting smart contracts and projects. Assurances of a quick fix, no funds lost in past outages. Over 3% dip in The digital asset market was shocked when Solana stopped producing blocks more than four hours ago, subsequently leading SOL to fall as much as 5% amid its first Hace 5 horas Solana (SOL) fell more than 5% over the past 24 hours, rattled by geopolitical tensions and waning memecoin activity on its network. The token dropped from $163.72 to a Solana validators said they would restart the blockchain network’s Mainnet-Beta cluster using version after an outage today, Feb. 6. Earlier today, the Solana status page confirmed

Solana (SOL) Falls 5% After First Network Outage in 351 Days: What Happened?

The digital asset market experienced a jolt when Solana (SOL), a prominent blockchain protocol, suffered its first network outage in nearly a year. This marks the first major outage for the network in over 351 days, raising concerns about the stability and reliability of Solana’s ecosystem. SOL subsequently fell as much as 5% amid the disruption.

In the bustling world of cryptocurrencies, Solana, a blockchain protocol with a penchant for innovation, recently weathered a significant storm. A network outage, the first in a considerable time, halted transaction processing for 52 minutes, impacting various smart contracts and projects built on the Solana network. According to the Solana status page, all transactions were halted, causing significant disruption.

What Caused the Solana Outage?

While the exact cause of the outage is still being investigated, Solana validators initiated a restart of the blockchain network’s Mainnet-Beta cluster using version after the issue arose. This proactive measure aimed to restore functionality and minimize further disruption. The Solana network is built to be resilient, but unexpected issues can occur.

Impact on SOL Price

The interruption in network activity contributed to a price decline for the SOL token. Solana (SOL) fell more than 5% over the past 24 hours, dropping from $163.72 in response to the outage. While geopolitical tensions and waning memecoin activity on the network also played a role, the network downtime was a significant contributing factor.

Is Solana Still a Viable Blockchain?

Despite the recent outage, Solana developers have issued assurances of a quick fix and pointed to the fact that no funds were lost in past outages. The Solana network remains a powerful platform for decentralized applications, and developers are working to enhance its stability and reliability. While the 5% dip is concerning, the long-term viability of Solana will depend on its ability to address and prevent future network disruptions.

This article will be updated as more information becomes available.

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