Why did the network crash?

Along with the Cardano, the Solana crypto is undoubtedly the altcoin that has been the most talked about in recent weeks! A direct competitor of Ethereum, the Solana crypto shines with the performance of its blockchain. The Solana had a mini crash Wednesday September 15, the fault of its dazzling success?

Crypto Solana, victim of its success?

Solana cryptocurrency makes it possible to manage decentralized applications. It is placed in the same category as Cardano or Ethereum of course. However, of the three, the Solana is probably the crypto that has been the most successful in recent weeks! Why ? The Cardano is barely entering the smart contract game. Ethereum, on the other hand, faces network congestion issues. It is therefore not surprising that many investors are flocking to the Solana.

But it seems that the Solana has fallen victim to its recent success. Indeed, Wednesday September 15, 2021, the Solana network was shut down for 17 hours and the blockchain had to be “restarted”. What was the cause of the problem?

According to the information, the fault is linked to “resource depletion”. Concretely, the network was overloaded and could no longer process transactions. According to a spokesperson for Solana, “the ecosystem engineers tried to stabilize the network but were unsuccessful.” The crash occurred when the network recorded approximately 400,000 transactions per second. This event shows that the Solana still has some way to go to achieve the announced performances. Indeed, as a reminder, the Solana network officially claims to be able to manage up to 710,000 transactions per second.

Read Also:  Israel's attack on Iran, live today: Latest news on the conflict in the Middle East

Solana course: 136 €

This event took place as the Solana crypto is going through a historic boom. Thus, over the last 30 days, the price of Solana has exposed by more than 120%. Over the last 60 days, the figure is close to 500% increase! Figures that would make Ethereum or Cardano supporters pale!

The shutdown of the Solana network unsurprisingly led to a drop in its price. Thus, the crypto Solana has lost almost 10% in a few hours from € 139 to € 129. With the resumption of activities on the network, the price of Solana recovered quickly. Thus, at the time of writing this article, the price of Solana has almost returned to its level before “burn out”, trading around € 135.

More a bit of heat than a crash, the network overload observed on Wednesday showed the limits of the Solana. However, the Solana is nothing to be ashamed of! Even with “only” 400,000 transactions per second, it is still better than most of its competitors!

Recent Articles

Related News

Leave A Reply

Please enter your comment!
Please enter your name here