Solana network shuts down, will you still invest in SOL?

[KryptoBull]

Just yesterday I was doing some operations and positioning myself for some Defi protocols, I had to do at least 10 to 15 transactions on SOL's network
3 times the transaction failed, which hardly ever happens on the ETH network, but I waited about 10 seconds and tried again and it worked
That's the price you pay for cheaper transactions in SOL

If I made these 10 transactions on the ETH network I would have spent at least 30 dollars (contracts and swaps) and on SOL I spent around 3 dollars max 

This is quite unusual, we haven't heard of any such severe bugs on Sol before. I'm not sure what the cause is, but normally people can use Sol easily and quickly without facing any failed transactions. Hopefully, the Sol community will have an announcement about these issues soon.

Perhaps the market has warmed up and more users have come to Sol as the SOL price has surpassed the resistance level around 200 USD, so the Sol network is being overloaded and causing stability issues. This makes me worried about the possibility of another outage for Sol in the next few days

[SamReomo]

Perhaps the market has warmed up and more users have come to Sol as the SOL price has surpassed the resistance level around 200 USD, so the Sol network is being overloaded and causing stability issues. This makes me worried about the possibility of another outage for Sol in the next few days

Well, Solana is the main blockchain that meme coin lovers use on daily basis and that's expected to see such load on it. As we all know that this cycle is mostly considered as Meme cycle where previous one used to be called as Defi one, and that's why there's chance that we may see more load on Solana network in coming days.

[rdluffy]

...

This is quite unusual, we haven't heard of any such severe bugs on Sol before. I'm not sure what the cause is, but normally people can use Sol easily and quickly without facing any failed transactions. Hopefully, the Sol community will have an announcement about these issues soon.

Perhaps the market has warmed up and more users have come to Sol as the SOL price has surpassed the resistance level around 200 USD, so the Sol network is being overloaded and causing stability issues. This makes me worried about the possibility of another outage for Sol in the next few days

Some transactions on SOL's network do fail, it wasn't an outage or any other major problem
Several times when I make transactions on SOL, the transactions can actually fail

But it's not just the SOL network, a few times a week my Metamask transactions with EVM networks also fail for various reasons

[KryptoBull]

Some transactions on SOL's network do fail, it wasn't an outage or any other major problem
Several times when I make transactions on SOL, the transactions can actually fail

But it's not just the SOL network, a few times a week my Metamask transactions with EVM networks also fail for various reasons

I encountered a similar issue with BSC during the 2021 uptrend, but it was quickly resolved. I'm not sure if Sol is facing the same problems, but I hope the Sol team is aware of this issue and has a plan to address it promptly before the uptrend.

It would be a shame if users couldn't fully utilize Sol's potential when they actually need it for their personal purposes! A few possible causes I can think of:

1. Crypto wallet errors
2. Token smart contract errors
3. Blockchain network errors
4. Internet connection errors

[alltalk]

Well, Solana is the main blockchain that meme coin lovers use on daily basis and that's expected to see such load on it. As we all know that this cycle is mostly considered as Meme cycle where previous one used to be called as Defi one, and that's why there's chance that we may see more load on Solana network in coming days.

Indeed. Solana network develops well due to the popularity of meme coins during this bullrun season. As long as there are many meme lovers use Solana network, it will always develop well in the future. I'm not sure whether it is meme coin era or not, but meme coins are quite popular nowadays. Since this is the fact, I guess you point out that there is no way that Solana network to shut down. It is just a too speculative statement that Solana network to shut down. 

[dwyane36]

Indeed. Solana network develops well due to the popularity of meme coins during this bullrun season. As long as there are many meme lovers use Solana network, it will always develop well in the future. I'm not sure whether it is meme coin era or not, but meme coins are quite popular nowadays. Since this is the fact, I guess you point out that there is no way that Solana network to shut down. It is just a too speculative statement that Solana network to shut down. 

The Solana network is doing very well this year, and there has been 100% uptime for the last 90 days. Furthermore, it is worth noting that the last incident was only in February when the Solana network stopped producing blocks for about five hours due to a glitch. This means that the Solana network has become much more stable compared to previous years.

[KryptoBull]

The Solana network is doing very well this year, and there has been 100% uptime for the last 90 days. Furthermore, it is worth noting that the last incident was only in February when the Solana network stopped producing blocks for about five hours due to a glitch. This means that the Solana network has become much more stable compared to previous years.

Yes, Sol has become much more stable than before, and this confirms the #DevelopmentTeam 's ability to manage and upgrade the network. Currently, users can rest assured using Sol without worrying too much about stability, at least until a problem becomes so severe that it causes Sol to have more outages.

However, history has shown that the price increase of SOL is not related to the stability of the Sol blockchain but only depends on the vibrancy of the ecosystem with many DeFi, GameFi, NFT, memecoins projects. Investors can easily recognize this and continue holding SOL to a higher target.

[gunhell16]

Perhaps the market has warmed up and more users have come to Sol as the SOL price has surpassed the resistance level around 200 USD, so the Sol network is being overloaded and causing stability issues. This makes me worried about the possibility of another outage for Sol in the next few days

Well, Solana is the main blockchain that meme coin lovers use on daily basis and that's expected to see such load on it. As we all know that this cycle is mostly considered as Meme cycle where previous one used to be called as Defi one, and that's why there's chance that we may see more load on Solana network in coming days.

If I base my answer on the title, I would still buy sol if its liquidity pool in the market is still high, which means that when that happens, many people still believe and trust solana, right? And of course when its liquidity is low, the risk is also quite high.

Let's just use common sense, look at what happened to terra luna even though the exchange was closed but its native token still remained in the crypto market because at least there are still traders buying it.

[KryptoBull]

If I base my answer on the title, I would still buy sol if its liquidity pool in the market is still high, which means that when that happens, many people still believe and trust solana, right? And of course when its liquidity is low, the risk is also quite high.

Let's just use common sense, look at what happened to terra luna even though the exchange was closed but its native token still remained in the crypto market because at least there are still traders buying it.

We shouldn't compare Sol to Luna because Sol is still operating with high performance and hasn't been involved in any scams. Sol is not the platform of FTX. Meanwhile, Luna is the platform for UST and the native token LUNA was also involved in a fraudulent algorithmic stablecoin model.

The difference is also easily seen in the token price: SOL has created a new ATH and is very popular, while LUNC has almost no chance to succeed like LUNA in 2021. It can be said that Sol may not be absolutely stable, but investing in SOL is still very promising for investors.

[malah]

Talking about network, I think not only with Solana network got shuts down but also other network faced shuts down such as Binance Smart Chain, Polygon and Bitcoin with block confirmation taken more longer time than usually and pay higher fees for transaction.
That problem with network not make many trader or investor won't investing their money in bitcoin or Solana coins regarding how potential for growing up in the future.
Solana still most profitable altcoin for investing right now how increasing price drastically and last lower price under $123 without few weeks success recovery and Solana break to $192.

It's true that other blockchains besides Solana have experienced issues, but not to the same severe extent. Their networks have only slowed down, fees have become significantly more expensive, or errors have occurred during user transactions, rather than completely shutting down for hours as Solana. And as you've pointed out, the prices of their native tokens have still risen as users continued to use these blockchains to generate profits, or simply because they held the tokens believing in their future price appreciation.

Despite the issues related to Solana's stability, SOL remains an attractive token for investment as it has generated enormous profits for holders in the past. With the trust of users and the vibrancy of its ecosystem, it's not difficult to imagine SOL reaching a new ATH this season.

The Solana network is indeed stable, but as described above, how can we detach the development of its ecosystem that expands with new solutions and strong community backing? The sustainability will be achieved by developing an action plan to increase the network’s availability, as well as offering proper solutions for its users. This is the best time for us to intensify our call for technical advancement that will help keep Solana relevant and viable.

That is why in the state of volatility we have to balance certainty by the potential which has already been demonstrated. Hard work in nurturing the ecosystem and passion in innovative ideas can be the main driving force in moving SOL to new level. By the increased technical capacity the element of value will be improved not only in terms of a speculative platform, but in a practical context as well.

[KryptoBull]

 

The Solana network is indeed stable, but as described above, how can we detach the development of its ecosystem that expands with new solutions and strong community backing? The sustainability will be achieved by developing an action plan to increase the network’s availability, as well as offering proper solutions for its users. This is the best time for us to intensify our call for technical advancement that will help keep Solana relevant and viable.

That is why in the state of volatility we have to balance certainty by the potential which has already been demonstrated. Hard work in nurturing the ecosystem and passion in innovative ideas can be the main driving force in moving SOL to new level. By the increased technical capacity the element of value will be improved not only in terms of a speculative platform, but in a practical context as well.

I love Sol but it's hard to conclude that Sol is truly stable because we still experience outages and users face failed transactions. Additionally, Sol's ecosystem is filled with memecoins and lacks good projects in bigger trends like DeFi, GameFi, NFT, which worries me even though SOL price just hit a new ATH.

Clearly, investors are overlooking the technical limitations and ecosystem issues to invest in SOL seeking profits from its impressive price increase in the uptrend. I hope SOL price continues to rise and proves to the market that truly valuable projects will continue to thrive!

[armanda90]

I love Sol but it's hard to conclude that Sol is truly stable because we still experience outages and users face failed transactions. Additionally, Sol's ecosystem is filled with memecoins and lacks good projects in bigger trends like DeFi, GameFi, NFT, which worries me even though SOL price just hit a new ATH.

Clearly, investors are overlooking the technical limitations and ecosystem issues to invest in SOL seeking profits from its impressive price increase in the uptrend. I hope SOL price continues to rise and proves to the market that truly valuable projects will continue to thrive!

Investor take benefit how increasing price of SOL after success hitting new ATH, I don't think behind problem with network congested some time but right now all network have problem take longer time for confirmation of transaction needed. Seeking profitable by investing Sol coins seems easily than other coins after have huge problem when FTX bankrupt and Solana coins dump drastically and nowadays success hitting new ATH price.
Interested for investing at solana coins because have many success solana meme coins right now increasing high price and bring impact for Solana reach to higher price.

[KryptoBull]

Investor take benefit how increasing price of SOL after success hitting new ATH, I don't think behind problem with network congested some time but right now all network have problem take longer time for confirmation of transaction needed. Seeking profitable by investing Sol coins seems easily than other coins after have huge problem when FTX bankrupt and Solana coins dump drastically and nowadays success hitting new ATH price.
Interested for investing at solana coins because have many success solana meme coins right now increasing high price and bring impact for Solana reach to higher price.

It's very easy to look back and think that it's easy to profit from SOL because the SOL price has dropped significantly, creating opportunities for investors to buy SOL at a low price and make a profit now, but when the SOL price was below $10, many investors did not dare to buy more SOL, and some even sold SOL to invest in more memecoins or fan tokens.

Sol is surviving strongly thanks to memecoins, I hope it will have more big trends to have a diverse and vibrant ecosystem, ready to join and explode with many big trends this season. I think users can accept a few failed transactions but will not be able to tolerate outages that last for many hours, Sol devteam still has a lot of work to do next year to accommodate tens of thousands of tps from users.

[erus]

~snip~
If you are SOL token investore, I'd like to know your views on Solana and SOL:

• Did the Solana incident impact your decision to invest in SOL?
• Are you really bothered by the failure of the Solana blockchain?
• Do you believe that in the uptrend in 2025, the SOL token price will still grow and will not be negatively impacted by Solana blockchain outages?

~snip~

1. Looking at the current price of Solana, I am still convinced that Solana will buy at least 10% of my total capital into Solana coins.
2. I feel very disturbed if the Solana blockchain goes down, because the problem is related to the funds I have, if I have 0.2 Solana transferred to a friend and the Solana blockchain goes down at that time it will be very dangerous.
3. Many say that 2025 is the peak of BullRun, the same as your principle. If that really happens, then the Solana coin should also be able to reach a new all-time high again, maybe at least the price of this Solana coin is above 520 dollars.

This is just my personal opinion, if I had free funds then I would use this principle to buy Solana coins.

[KryptoBull]

1. Looking at the current price of Solana, I am still convinced that Solana will buy at least 10% of my total capital into Solana coins.
2. I feel very disturbed if the Solana blockchain goes down, because the problem is related to the funds I have, if I have 0.2 Solana transferred to a friend and the Solana blockchain goes down at that time it will be very dangerous.
3. Many say that 2025 is the peak of BullRun, the same as your principle. If that really happens, then the Solana coin should also be able to reach a new all-time high again, maybe at least the price of this Solana coin is above 520 dollars.

This is just my personal opinion, if I had free funds then I would use this principle to buy Solana coins.

SOL has reached a new ATH of 265 USD, confirming that a new ATH has been set. We know that a few outages can't diminish investors' love for Sol The fact that you want to allocate 10% of your capital to SOL is the clearest evidence of this.

Typically, Sol outages last for a few hours and don't have a significant impact on investors. For DeFi users, this might be a bigger challenge as DeFi requires constant movement of funds between participants. We hope that in the 2025 uptrend, Sol will operate stably and avoid any further scandals related to network instability.