What is Solana and Why is it falling now?

             Solana price crash today: 

   What is Solana & Why is it falling now?

What is Solana?

Solana (SOL) is a native and useful cryptographic token for the Solana blockchain. SOL was introduced in March 2020 and will be used to transfer value  on the blockchain. It also works for  blockchain security by staking.

Currently ranked 9th in CoinMarketCap, SOL is  one of the largest cryptocurrencies after Bitcoin, Ethereum, Binance Chaincoin (BNB), XRP and Cardano.  The official website of Solana describes itself as "a decentralized blockchain designed to enable scalable and user-friendly apps in the world." In addition, Solana is not only "ultra-fast" and "low cost", but also censored. Resistance. The Solana network is distributed across thousands of independent nodes.

The Solana has been  the focus of attention in the NFT and DeFI ecosystems in recent years because it is believed to be faster and cheaper to use than Ethereum. For this reason, it is also called a rival of Ethereum.

 

However, the Solana blockchain has been hit by multiple outages over the past year and a half. Even on May 1st of  this year, the Solana blockchain went down for several years and then returned online.

Reasons for Solana Price Cuts: Why are Solana (SOL) price cuts today? What is Solana? Check out the latest updates for Solana Price Today

                                                   

                               

Solana  Price Crash:News: Solana prices have crashed by more than 12% in the last 24 hours.  SOL price cuts have begun after the Solana blockchain was hit by a second outage last month. The Solana validator did not process the  new block for several hours due to the outage.

 

 SolanaStatus According to the Twitter account, block generation in SolanaMainBeta has stopped due to an error. "Today, a bug in the persistent non-transaction feature caused nondeterminism because the node produced different results for the same block, preventing the network from moving forward. Engineers are preparing a new version (v1.9.28 / v1.10.23) that temporarily disables the persistent nonce transaction feature until the patch is released, "Solana Status said in a series of tweets.

To fix the outage, I had to restart the Solana validator by following the instructions on the Twitter handle. The outage lasted more than 4 hours. However, Solana Staus's Twitter handle shows that the network and funds are secure.

“Network country is secure, as are funds. Validator operators are coordinating a restart from the best showed block in public on mb-validators in Discord,” one of the Tweets through SolanaStatus said.

Solana Price Today

At the time of writing, Solana was trading at $ 39.53, down 12.14% in the last 24 hours. In the global crypto market plunge, SOL prices have fallen by more than 55% in the last 30 days.