The Solana blockchain is back up and running after a software glitch caused an outage of more than four hours, the latest in a series of shutdowns of the network in less than a year.
While Solana’s rise to the upper echelon of crypto’s top alternatives to bitcoin and ethereum has been rapid, it has been hampered by outages in recent months. The digital asset’s network suffered a wave of blackouts and service issues lasting as long as 18 hours in January, prompting ire from frustrated traders who watched their portfolio values decline while unable to offload tokens.
The network remains secure, as do all funds, Solana said earlier in a Twitter post.
The price of Solana’s SOL token slumped for a third day on Thursday, falling as much as 4.8% to US$38.67 and underperforming most other major tokens. It had traded as high as $260 in November. — Muyao Shen and David Pan, (c) 2022 Bloomberg LP