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- Solana Labs forms “adversarial team” to address blockchain stability issues following repeated outages; team to consist of almost one-third of Solana’s engineers, with a focus on improving stability for 2023.
- Solana suffered an 18-hour network outage on February 25, with the cause still under investigation; engineers suggested downgrading to previous version 1.14. Previous outages occurred in September 2021 and May 2022.
- SOL price down by 0.4% in past 24 hours, trading at $20.82; recent launch of NFT collection and meme coin helped Solana regain market value. Ethereum founder Vitalik Buterin complimented Solana’s smart developer community, contributing to price increase.
Following the repeated outages on their systems, Anatoly Yakovenko, the co-founder of smart contract platform Solana, disclosed recently that Solana Labs, an organization dedicated to improving the Solana blockchain, has formed an “adversarial team” to improve the blockchain’s stability. The team will have almost one-third of Solana’s engineers.
“2022 priorities were shipping new features and new tools. 2023 is stability,” he tweeted.
On February 25, Solana suffered a network outage which resulted in the halt of processing user transactions. Unfortunately, the outage lasted for 18 hours as their engineers were unable to determine the cause of the problem.
Currently, the cause of the outage is still under investigation. The engineers also suggested that Solana should downgrade to its previous version as the outage may have been tied to its recent update, version 1.14.
Prior to this, Solana also had an outage in the previous years. In September 2021, Solana had issues on some of their nodes on their smart contracts chain and eventually went offline after the network had problems handling a higher-than-usual load. In May 2022, the platform had a 7-hour outage after bots tried to mint NFTs at 4M transactions per second.
Currently, the price of SOL is down by 0.4% in the past 24 hours and trading at $20.82, according to the data from CoinGecko.
In January, BONKz non-fungible token (NFT) collection was launched in Solana–which was sold out four hours after its release. Its token counterpart BONK was launched on the Solana blockchain last December. It was a meme coin modeled after the popular dog-themed token Shiba Inu (SHIB), 24 hours after its launch, the price of this coin went up by 150%. The launch of these digital assets helped Solana regain its market value after SOL has fallen below $10 for the first time in almost two years.
Ethereum founder Vitalik Buterin also complimented the platform stating that there are “some smart people” who told him that “there is an earnest smart developer community in Solana.” His comment also helped Solana go up in price. (Read more: After Receiving Positive Remarks from Ethereum Founder, Solana Now Back Above $10)
This article is published on BitPinas: Solana Prioritizes Stability After Suffering Repeated Outages
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.