One of the world’s largest cryptocurrencies has fallen more than 12 per cent after its second outage in a month
Solana’s computer systems needed a full restart after an outage left users blocked for nearly five hours.
The cryptocurrency has been gaining traction in the NFT and De-Fi ecosystems because it’s cheaper and faster to use than other digital coins like Ethereum.
Its blockchain can process 50,000 transactions per second.
The latest outage is the second in a matter of months, after it was previously brought back online following a restart of its validator network.
A ‘validator’ operates like a banker, who is in charge of certifying every transaction that comes into the blockchain.
All transactions need to be verified by a validator, whose job it is ensure they are legal and accurate.
In Solana’s latest outage, validators in the network were not processing new blocks for several hours.
