Solana Goes Down Yet AGAIN, Time To Move On?

By Vince • February 6, 2024 5:31 pm • Comments

Why do people invest in Solana? It is legitimately mind-boggling.

The network has gone down 4 or 5 times now? Yet investors continue to stick with the project and pour tons of money into the network. At the time of this writing, SOL is trading around $96. This is almost three times as much as AVAX.

The Solana Network once again went down on Tuesday for five long hours before the network was once again operational.

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Solana, which is the favorite liquidity token among venture capitalists, is now back online, but when will the next outage happen?

Devs on the network say that users and investors can expect another outage to happen, but they did not specify any further details. With so many outages plaguing Solana, is it time for investors and the crypto community to move on? Here’s what everyone is saying:

According to Decrypt:

Tuesday’s outage doesn’t have an official cause yet, but a tweet from Matthew Sigel—VanEck’s Head of Digital Assets Research—that’s been circulated by Solana leaders and developers blames a bug that had been fixed on Solana’s testnet, but not yet deployed to the mainnet.

One user jokingly shared this photo and said: “SOLANA NETWORK HAS STOPPED PROCESSING TRANSACTIONS DUE TO AN OUTAGE. THEIR LEAD ENGINEER, PICTURED BELOW, IS WORKING ON A FIX.”

CoinDesk provided the latest update and confirmed:

Transactions resumed being processed around 15:00 UTC, blockchain data showed. They had stopped around 09:52 UTC, data showed.
The halt came nearly a year after the Solana network was down for almost two days in April 2023

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