Solana, the low-latency blockchain that's seen an explosion in activity in recent months, experienced an approximately five-hour outage on Tuesday.
Solana's SOL token slumped from around $96 before the problem began to below $94 as the incident was ongoing. It was recently down 2.5% from 24 hours earlier, worse than the 1% drop in the CoinDesk 20 Index, a benchmark for the largest cryptocurrencies.
This is the 11th time the Solana blockchain goes down
The ethereum Killer is not doing well!
Could this be as a result of Jupiter? I am yet to see the results real problem or update about the cause of the outage. The developers just announced that the chain is back online and working perfectly but this is not nice to see all the time.
This is the 11th time the Solana blockchain goes down
The ethereum Killer is not doing well!
Ethereum has transit from proof of work to proof of stake and I have never for one read anywhere that it has went offline or hasn't been able to mine some blocks but Solana has done more offline since ethereum became proof of stake, same project with the same mechanism even when one of them proof to be safer and faster but goes offline than it has stay online. I'm not sure if Solana will ever reach it's full potential.
Could this be as a result of Jupiter? I am yet to see the results real problem or update about the cause of the outage. The developers just announced that the chain is back online and working perfectly but this is not nice to see all the time.
Could this be as a result of Jupiter? I am yet to see the results real problem or update about the cause of the outage. The developers just announced that the chain is back online and working perfectly but this is not nice to see all the time.
Could this be as a result of Jupiter? I am yet to see the results real problem or update about the cause of the outage. The developers just announced that the chain is back online and working perfectly but this is not nice to see all the time.
I agree with bitmover that the cause of the outage is not due to jup or any other token. For example, this site (https://coingape.com/solana-down-whats-the-reason-behind-recurrent-outages/#:~:text=Reason%20Behind%20Outages,to%20rise%20massively.) cites the design of the system as the reason for Solana's periodic network outages. Namely, Solana handles all of its consensus on-chain, meaning that all validator communications are on the chain like a transaction. The problem seems to be that this causes a significant increase in transaction volume and TPS.
Keep an eye out for them to come back as soon as possible as there are a lot of projects running on the network right nowAny key reasons how not to be worried about it? I'm overthinking about the price and it could go down because of stuff like this.
Any key reasons how not to be worried about it? I'm overthinking about the price and it could go down because of stuff like this.I think worrying about their reliability is a valid concern though, you don't necessarily have to remove it from your mind since it is better to prepare another strategy to increase your wealth. As far as I can see, most people don't necessarily bet on the price of SOL itself, but on the ecosystem. Relying on Solana chain forever is not going to cut it anyway. I guess it also depends on your capital and risk profile. If you're an airdrop hunter, just make sure to liquidate some of your earnings to other chains as soon as possible, while you can stake the rest to get future airdrops. Personally, my holding on Solana is not that big, so I don't necessarily find the outage a big issue.
~ I thought these problems were behind usI guess the devs can only minimize the occurrence but they can't stop it completely ;D
Unless it happens more often (at least once a month), people wouldn't mind the outages. It's inconvenient but I think traders/investors are already used to it.Keep an eye out for them to come back as soon as possible as there are a lot of projects running on the network right nowAny key reasons how not to be worried about it? I'm overthinking about the price and it could go down because of stuff like this.
When was the last time this happened? IIRC, it was last year or maybe 2022? It's not that I hate Solana but this is really the one weakness of this blockchain. In fact, I also use it for transferring funds. I only have an issue with supporters who do not see the trade off here. You enjoy the cheap transaction fees and fast confirmation but, in exchange, you get a centralized protocol. Outages like this will happen from time to time as a result.Solana has many advantages such as high speed and low fees, but it seems that POH really needs to be further improved by the Solana team in the future to help users have more confidence in the network stability.
Keep an eye out for them to come back as soon as possible as there are a lot of projects running on the network right nowAny key reasons how not to be worried about it? I'm overthinking about the price and it could go down because of stuff like this.
When was the last time this happened? IIRC, it was last year or maybe 2022? It's not that I hate Solana but this is really the one weakness of this blockchain. In fact, I also use it for transferring funds. I only have an issue with supporters who do not see the trade off here. You enjoy the cheap transaction fees and fast confirmation but, in exchange, you get a centralized protocol. Outages like this will happen from time to time as a result.Not good but this is the Solana I know: there are many issues that need to be resolved with blockchain quality but the native SOL token price continues to increase strongly and is above 100 USD. This reinforces my belief in the truth: technology does not determine token price movements.
Not good but this is the Solana I know: there are many issues that need to be resolved with blockchain quality but the native SOL token price continues to increase strongly and is above 100 USD. This reinforces my belief in the truth: technology does not determine token price movements.I don't think it is that black and white. I mean, the price did drop when the outage happened, so it affected the price, just that there are other factors to consider regarding whether people should continue to buy the token or not. For example, if a new project has an outage every week, I doubt their price will be good at all. In Solana's case, people already knows they have this problem, but the ecosystem is strong and they have ton of backers that would likely do something to prevent their cash cow dying.
solana is back over 100 i think they simply will improve the server network and its is a non issue.well this is important to be prioritized mate because if continue happen then this will become a Issue.
Honestly? It's very funny after this situation. As always, the network is a bit depressing, but it's funnier that the CEO slept through it. Isn't that funny? Where else would you hear that? ;DIt displays confidence that the Solana team can handle it. He cannot show that he's rattled during outages. An investor with a significant stake in a company probably prefer not to see a CEO that could not sleep because it also shows that he still couldn't figure out how to solve the problem.
I don't see how with (that kind of attitude, they're going to attract (big investors)?
Honestly? It's very funny after this situation. As always, the network is a bit depressing, but it's funnier that the CEO slept through it. Isn't that funny? Where else would you hear that? ;DIt displays confidence that the Solana team can handle it. He cannot show that he's rattled during outages. An investor with a significant stake in a company probably prefer not to see a CEO that could not sleep because it also shows that he still couldn't figure out how to solve the problem.
I don't see how with (that kind of attitude, they're going to attract (big investors)?
His message is clear that it's not a major issue.
The Solana logo with the power switch is funny.
It displays confidence that the Solana team can handle it. He cannot show that he's rattled during outages. An investor with a significant stake in a company probably prefer not to see a CEO that could not sleep because it also shows that he still couldn't figure out how to solve the problem.Solana should not be able to do this because it could worry Solana supporters, Solana developers must work quickly and efficiently because cryptocurrency use should not stop when the power goes out and Solana should immediately develop many points so that transactions are not recorded in one place but all the points can be synchronized well without any problems.
His message is clear that it's not a major issue.
The Solana logo with the power switch is funny.
Maybe this is how they are working now , the team don't wanna miss support just because of this issue though it had been happening for years now but still the team should look into this seriously.It displays confidence that the Solana team can handle it. He cannot show that he's rattled during outages. An investor with a significant stake in a company probably prefer not to see a CEO that could not sleep because it also shows that he still couldn't figure out how to solve the problem.Solana should not be able to do this because it could worry Solana supporters, Solana developers must work quickly and efficiently because cryptocurrency use should not stop when the power goes out and Solana should immediately develop many points so that transactions are not recorded in one place but all the points can be synchronized well without any problems.
His message is clear that it's not a major issue.
The Solana logo with the power switch is funny.
Yes, in the past it was down, but in the end it actually made Solana even better. And it's no longer a big practice. Because their team is a very professional and solid team. So you can quickly respond to these problems and ultimately succeed better.
And even after that, the price of SOL rose and increased quite drastically, right? This makes Solana increasingly loved by many parties and its increase has been very significant recently.
Yes, in the past it was down, but in the end it actually made Solana even better. And it's no longer a big practice. Because their team is a very professional and solid team. So you can quickly respond to these problems and ultimately succeed better.Solana continues to provide the best development to provide maximum service because its main goal is to create a network that has the lowest fees and has high transaction speeds, so as long as Solana has high demand, the price of Solana will continue to rise.
And even after that, the price of SOL rose and increased quite drastically, right? This makes Solana increasingly loved by many parties and its increase has been very significant recently.
This is one of the things that is making me to avoid all these altcoins because this the same method is used by Ponzi Schemes to shot down and run away with people's money. By the right and as a cryptocurrency coin project network supposed not worry again but they can only have congestion network which common in the system because of the crowd that is visiting or using the network are more but whereby the whole network was shot down then that is not a good encouragement for the project. If they are legit they should work on the network and have a smooth running project with obstruction then another thing is for them to have their personal forum to discuss Solana and not the dependency.
Yes, in the past it was down, but in the end it actually made Solana even better. And it's no longer a big practice. Because their team is a very professional and solid team. So you can quickly respond to these problems and ultimately succeed better.while this is alarming yet I guess that Solana needs to act accordingly about this network downing
And even after that, the price of SOL rose and increased quite drastically, right? This makes Solana increasingly loved by many parties and its increase has been very significant recently.
Yes, in the past it was down, but in the end it actually made Solana even better. And it's no longer a big practice. Because their team is a very professional and solid team. So you can quickly respond to these problems and ultimately succeed better.while this is alarming yet I guess that Solana needs to act accordingly about this network downing
And even after that, the price of SOL rose and increased quite drastically, right? This makes Solana increasingly loved by many parties and its increase has been very significant recently.
though they have proven getting back from those downs yet if this continue then they will face a sudden loss of support
from potentail investors and those who are already invested.
because this is alarming each time when your coin is not to be found at some time?
When was the last time this happened? IIRC, it was last year or maybe 2022? It's not that I hate Solana but this is really the one weakness of this blockchain. In fact, I also use it for transferring funds. I only have an issue with supporters who do not see the trade off here. You enjoy the cheap transaction fees and fast confirmation but, in exchange, you get a centralized protocol. Outages like this will happen from time to time as a result.On the 24th January 2023 , the network was down for about 6 hours . Well the Solana team said the outage was caused by a bug in the software that gives power to the network Solana. It causes some validators going offline which lead to chain split.
https://www.theblock.co/post/276174/solana-major-outage-mainnet-beta
(https://i.ibb.co/cgvWM9b/Sol-Out.png)
Keep an eye out for them to come back as soon as possible as there are a lot of projects running on the network right nowAny key reasons how not to be worried about it? I'm overthinking about the price and it could go down because of stuff like this.
It is normal for the price of the SOLANA coin to decrease but what is not normal is "Outage", if you have a coin and the blockchain is "Outage", it is the same as if you have a coconut but not its contents of coconut. Bad!Prices dropping are normal if that's the case, the fear is if there is a loss of assets on the Solona network, and suddenly they say they have been hacked,Keep an eye out for them to come back as soon as possible as there are a lot of projects running on the network right nowAny key reasons how not to be worried about it? I'm overthinking about the price and it could go down because of stuff like this.
Prices dropping are normal if that's the case, the fear is if there is a loss of assets on the Solona network, and suddenly they say they have been hacked,Until now there doesn't seem to be an issue like that, maybe someone has been affected by fraud because some time ago there was a fund collection via Twitter and there were also fake users who tried to take advantage of the event, attacking users who were not focused and didn't know the wallet used to collect funds. which is used by developers resulting in wrong wallet transfers and loss of their assets. The collapse of the Bitcoin price on exchanges was also one of the factors in the collapse of the Solana price.
That's right, there are still many fake accounts circulating on platform They always provide fake websites that are created almost exactly the same as the websites owned by real accounts.Prices dropping are normal if that's the case, the fear is if there is a loss of assets on the Solona network, and suddenly they say they have been hacked,Until now there doesn't seem to be an issue like that, maybe someone has been affected by fraud because some time ago there was a fund collection via Twitter and there were also fake users who tried to take advantage of the event, attacking users who were not focused and didn't know the wallet used to collect funds. which is used by developers resulting in wrong wallet transfers and loss of their assets. The collapse of the Bitcoin price on exchanges was also one of the factors in the collapse of the Solana price.
Keep an eye out for them to come back as soon as possible as there are a lot of projects running on the network right nowAny key reasons how not to be worried about it? I'm overthinking about the price and it could go down because of stuff like this.
Prices dropping are normal if that's the case, the fear is if there is a loss of assets on the Solona network, and suddenly they say they have been hacked,
Exactly, when the price of coins in the market starts to fall then we should be able to buy as many coins as we can, because that is a good opportunity to enter at a cheap price, usually the coin price will bounce and when it has risen again then we have to immediately sell it again and Wait until the price drops again to buy again.Keep an eye out for them to come back as soon as possible as there are a lot of projects running on the network right nowAny key reasons how not to be worried about it? I'm overthinking about the price and it could go down because of stuff like this.
Prices dropping are normal if that's the case, the fear is if there is a loss of assets on the Solona network, and suddenly they say they have been hacked,
The lowering of the price for others is an opportunity for them to pay, in truth. If I only have money to buy, I will surely accumulate Solana.
Because the decrease in its price value does not mean that its value will be zero straight away, it seems that there is no such thing unless it is not a potential coin.