Crypto News– Solana validators have announced their intention to reboot the Mainnet-Beta cluster of the blockchain network using version 1.17.20 following an outage on February 6.
Solana Mainnet Encounters Service Disruption, Leading to a 5% Decrease in SOL Token Price
Earlier today, the Solana status page confirmed the occurrence of an outage on its mainnet. In a statement from one of the official social media handles of the blockchain company, it was noted, “Engineers from across the ecosystem are investigating an outage on mainnet-beta.”
Laine, a software and blockchain company responsible for validating the Solana blockchain, provided additional details, stating:
“Solana Mainnet-Beta is experiencing a performance degradation, block progression is currently halted, and core engineers & validators are actively investigating.”
It’s worth noting that Solana has a history of facing outages, with the last reported incident occurring in the early stages of the previous year, as documented on its status page.
SOL token sees a decline
Following the recent developments, SOL’s value experienced a decline of approximately 5%, reaching around $94. This drop continues a generally negative trend for SOL, which has seen it lose over 10% in the past week, as reported by CryptoSlate’s data. Despite this decrease, Solana maintains its position as the sixth-largest digital asset by market capitalization.
Last year, Solana exhibited significant resilience, particularly after its extensive association with Sam Bankman-Fried, the founder of the now-defunct FTX exchange, came to light. This revelation led to increased adoption and growth among cryptocurrency enthusiasts, who were drawn to the network for its cost-effective and swift transactions, especially when compared to more established competitors like Ethereum.
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