Solana Network Disruption, What are Causes and Impact?

Check Today's Crypto Market:

Bittime -  The recent outage experienced by the Solana network shows that even thecryptoare not immune to technical problems. The network became unusable for five hours and caused concern among users and market participants. 

The reason is, Solana is known for its high scalability and fast performance so this kind of disruption raises questions about its reliability. The disruption was caused by a previously known bug. 

The bug causes validators, which are an integral part of the Solana network, to be trapped in an infinite loop. This results in the network being unable to process further transactions, causing inconvenience to users and causing economic losses.

In an effort to resolve this issue, the Solana development team quickly reacted by releasing a software update to address the bug. However, the implemented fix is ​​only temporary, while a more complete solution is under development.

Also Read: Solana (SOL) 2024: Comprehensive Guide for Beginners

Network Disruptions Affect SOL Prices

Apart from raising concerns over the reliability of the Solana network, the disruption also affected the price of SOL, Solana's native crypto asset. Although the SOL price recovered after the disruption was resolved, it shows that network instability can have a direct impact on the crypto market.

Also read:

Additionally, this incident also emphasizes the importance for crypto platforms to continuously improve infrastructure and conduct rigorous testing before releasing updates or new features. Small errors in code can have a big impact on the stability and security of a platform so developers must always be alert to potential technical issues.

Thus, the Solana network disruption is a reminder to the entire crypto ecosystem of the importance of maintaining the security and reliability of blockchain infrastructure. With appropriate measures and transparency in communications, we can minimize the risk of similar disruptions in the future and ensure smooth network operations for all users.

Also Read: What is Solana (SOL) Pay?

How to Buy Solana (SOL) on Bittime

If you are interested in investing in Solana (SOL), you can buy it at Bittime. SOL tokens are available on Bittime in SOL IDR pairings. 

The following is a guide on how to buy SOL tokens on Bittime. 

• Register an account at Bittime using an active email. 
• Complete the identity verification process.  
• Once the account is verified, open the Bittime application.
• Select the Market menu or click the graphic icon. 
• Select IDR pairing to buy SOL with Rupiah.
• Click 'Buy'.
• Select the order type to use. Limit orders, market orders and stop orders are available.
• Enter the nominal rupiah to buy SOL.
• Click the 'Buy SOL' button. 
• A notification pop up will appear. Read it carefully and click 'Confirm'. 
• Enter the six digit Transaction PIN.
• The application will display a successful order notification. 
• Check your SOL balance in your wallet after a successful transaction.

To see a complete guide on how to buy Solana (SOL), you can click here .

Apart from buying Solana (SOL), you can also buy various crypto assets, such as BTC, ETH, USDT, ADA, AVAX, DOGE, and many others. Don't forget, keep monitoring crypto asset price chart movements today to find out crypto market trends on Bittime. 

Crypto asset buying and selling transactions on Bittime are easy, safe and instant. Bittime is officially registered and supervised by Bappebti and Kominfo. 

Also Read:

Solana (SOL) Future & Solana ETF Predictions

What Is a Solana Virtual Machine (SVM)? Understanding the Core Technology Behind Solana

How to Buy NFTs on Solana?

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.