On Tuesday, the Solana blockchain experienced a massive outage that halted the network’s mainnet operations for approximately five hours. The outage marks the 11th such incident and has raised concerns about the stability and security of blockchain.Day Kind of over the last two years.
Do you kick Solana when she’s down?
On February 6, the Solana blockchain network suffered a severe outage that lasted 4 hours and 46 minutes, halting network operations and raising questions about the trustworthiness of the blockchain, leading to intense criticism for the project.
The cryptocurrency community has taken no time to share its thoughts on the situation, with many cryptocurrency investors citing memes and jokes to express their concerns about Solana’s history of outages. This shows a lack of confidence in Solana’s ability to maintain a stable network, which could affect Solana’s reliability in the future.
Among the online voices, Cardano founder Charles Hoskinson took the opportunity to mock the situation by referencing his previous jokes about the network. Hoskinson’s comments and the community’s response highlight growing skepticism about Solana’s credibility.
This always works https://t.co/5kVRVGFM4l pic.twitter.com/X9yJXcETQn
— Charles Hoskinson (@IOHK_Charles) February 6, 2024
Members of the cryptocurrency community found this statement hilarious. One user referenced a previous sarcastic comment the Cardano founder made during an Ask Me Anything (AMA) session two years ago. The community’s reaction reflects distrust of Solana and suggests its popularity may be declining.
“Collaborating with Solana will really mean a lot.” @IOHK_Charles
maybe #Solana Can I become a partner chain? #Cardano pic.twitter.com/8Vp0NMNl7a
— St₳kΣ with Pride 🌈 (@StakeWithPride) February 6, 2024
In addition to Cardano’s founder, there is also Max Keizer, a Wall Street veteran and journalist. criticize This is the answer from the Solana team. Keizer also took the opportunity to take shots at coins like ETH, ADA, and BNB, calling Solana’s native token, SOL, “centralized garbage.” These criticisms indicate widespread skepticism about the entire blockchain industry and its ability to deliver on its promises.
Solana’s speedy recovery
Despite the doubts and concerns of cryptocurrency investors during the outage, the price of SOL recovered from the initial decline and recovered 1.8% in the last 24 hours, according to data from CoinGecko. As of this writing, SOL is trading at $97. This recovery highlights the volatile nature of cryptocurrencies and the resilience of the Solana ecosystem in the face of adversity.
SOL is trading at $97.2 in the 1-day chart. Source: SOLUSDT on TradingView.com
Featured image from Unsplash.com, chart from TradingView.com
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