Solana has two power outages in a month, causing prices to plummet

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The validator on the network did not process the new block for several hours. As a result, applications built on Solana's blockchain are now offline.

In recent years, Solana has been the focus of attention in the NFT and DeFi ecosystems because it is cheaper and faster to use than Ethereum. According to the website, the blockchain processes 50,000 transactions per second and the average cost per transaction is $ 0.00025. Ethereum can only process about 13 transactions per second, and transaction fees are significantly higher than Solana.

However, the blockchain network was hit by multiple obstacles, and a compromise was revealed in the last year and a half. Most recently, on May 1, Solana was down for a few hours and then brought back online as well after a restart of the validator network.