Press Releases

Solana Network Blackout Triggers Panic Among Investors, When Is A Fix Coming?

The Solana network said to deliver high-speed transactions and a reliable system, has recently faced a major outage, causing millions of its users to be unable to process transactions on its blockchain. This blackout has raised concerns among investors, triggering scrutiny and fears, as investors wonder if a potential fix would be coming to the blockchain.

While the popular blockchain platform is struggling with its technical issues, innovative platforms like ETFSwap (ETFS) are up and running, offering advanced trading solutions to users globally. 

Solana Network Fix Date Unveiled

The Solana network witnessed a severe outage, leading to more than 75% of the total transactions on the network failing. Notably, this blackout was caused by a massive increase in transactions on the blockchain, alternatively sparking concerns about the blockchain’s ability to handle elevated network activities.  

On Monday, April 8, the Chief Executive Officer of Helius Labs, Mert Mumtaz, explained that Solana’s current network dilemma was not caused by a flaw in its design but by an implementation bug. 

He disclosed that the estimated time of arrival for a potential fix was scheduled for Monday, April 15. Additionally, Mumtaz has revealed that if additional issues are discovered, it could potentially prolong the timeline for the anticipated network fix.

Recently, the Solana network has been plagued by technical issues and outages. Earlier in June 2023, the network experienced a major outage, inconveniencing users and triggering a price decline for the cryptocurrency. Now, with the most recent blackout, the cryptocurrency has seen another drop in its price, with open interest declining by a staggering $370 million, signaling a 13.09% decrease in just one week. 

At the moment, the broader crypto community is watching closely, hoping for a swift resolution to the network blackout and a return to normal crypto operations. The unexpected outage not only underscores Solana’s network vulnerabilities and the need for a stronger chain. But this also highlights the network’s inability to handle large volumes of transactions from its extensive user base. 

ETFSwap Trading System Sets New Standards With Unmatched Security and Efficiency

Amidst the Solana network’s ongoing difficulties, ETFSwap (ETFS) has emerged as a game-changing trading platform, offering a safe haven for Solana investors struggling with the repercussions of the network’s recent blackout. 

ETFSwap (ETFS) is an innovative trading platform which allows users to buy and trade ETFs, granting them access to this lucrative digital asset market. This revolutionary platform sets itself apart from other projects in the Decentralized Finance (DeFi) ecosystem by utilizing blockchain technology to provide users with secure and transparent trading environments.

By trading on ETFSwap (ETFS), investors will not have to worry about potential network breakdowns as this platform incorporates cutting-edge technology to run its services and operations. 

Not only does ETFSwap offer users a highly efficient trading platform, but it also grants benefits to holders of its native cryptocurrency, ETFS. Investors can purchase ETFS tokens on its presale stage and take advantage of staking opportunities with a 10x leverage on all trades. Moreover, holders of this token are granted exclusive governance rights and will be able to earn potential staking rewards. 

For users who enjoy anonymity while trading, ETFSwap offers a completely decentralized trading platform without needing KYC requirements. This allows users to trade effectively without interference from the government or regulators. 

Additionally, CyberScope, a prominent cybersecurity and blockchain audit firm, has audited the platform. The audit indicated no security or network flaws in ETFSwap, highlighting its integrity and seamless performance. 

Currently, the price of one ETFS token is about $0.00845, and investors are rapidly purchasing this token at a low price to avoid missing out on a potential bullish opportunity. By the second stage of the presale, the token’s price will increase to $0.01831, making now the most ideal time to invest in this game-changing token. 16 million tokens have already been sold so far, and the presale is selling out fast.

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.

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