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Solana Fixes Issues Causing Outage, To Conduct a Post-Mortem Analysis

Solana SOL Price Up 13.4% to $30.48 – Where to Buy SOL
Solana SOL Price Up 13.4% to $30.48 – Where to Buy SOL

The Solana blockchain has been enjoying immense adoption following the network’s fast speeds and low gas fees. The boom in the network has led to the SOL token enjoying an iconic bullish rally that led to the coin making an all-time high past $200.

However, the increased adoption of the network led to Solana experiencing an outage. Following this issue, the network has assured users that it is taking steps that will make the network more resilient and ensure no further outages are experienced.

Solana Fixed the Issue

Supporters of the Solana network made DeFi projects flock into the network, arguing that it supports high speeds and low transaction costs. Some have claimed that the network will become surpass Ethereum in future in terms of DeFi adoption, given that the latter suffers from major scalability issues.

However, the major DeFi migration to Solana caused a major outage following a rise in transactions on the network. The outage forced the network’s developers to restart it and went ahead to make an update that would fix the bug. The high number of transactions on the network causes uncontrollable forking, which led to the outage.

On September 14, Solana released a patch that required the network’s validators who run the network to work together on a software update that will restart the chain. The process was complete by early Wednesday, according to a tweet shared by the Solana Foundation.

The SOL team has assured users that it will conduct a post-mortem analysis on the outage to determine what caused it and how it can be prevented again in the future.

Solana Stumbles

The Solana network outage has caused major issues for the SOL token. In early September, the token rallied to highs of $213. When the network outage happened, the token dipped by around 16%. Since the fix, the token has enjoyed some gains and recovered to around $160.

Despite the slump, SOL has more than tripled in value since August. The coin’s monthly gains stand at around 150%. In addition, the coin has risen up the ranks in terms of market capitalization and has managed to surpass major cryptocurrencies such as Dogecoin. Following the rise in value to beyond $200, SOL also surpassed XRP after its market capitalization hit $60 billion.

The boom in Solana is because of developments happening in the network, especially regarding non-fungible tokens (NFTs). The Solana network made its first million-dollar NFT sale spearheaded by the Degenerate Ape Academy.

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