Crypto News

Solana Network Regains Momentum After Network Outage, Price Continues Upward Movement 

Solana stands out as one of the few altcoins surpassing Bitcoin’s performance this week, reclaiming a position above $102 despite Bitcoin’s 3% surge in value.

Notably, $SOL / $BTC has seen a 4.5% increase in the last 36 hours alone. 

Earlier this week, on Tuesday, February 6, the Solana blockchain network faced a significant disruption, experiencing five hours of downtime. 

However, what initially alarmed traders turned out to be a local bottom, and the subsequent price recovery was driven by the FUD surrounding the outage.

Solana Developers Addressed The Problem And Token Surges

The downtime stemmed from an issue within the BPF loader, responsible for managing programs on the Solana network. 

To address the problem, developers promptly released an update to v1.17.20, and validator operators initiated a cluster restart. 

Developers have since rewritten the BPF code lines on the development network, effectively resolving the issue. 

Despite the network outage and resulting concerns, Solana’s development activity has reached its peak, indicating a resilient response from the community amid the FUD surrounding the SOL network outage.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: diegothomazini/123RF // Image Effects by Colorcinch

Leave a Comment

Your email address will not be published. Required fields are marked *