Solana Network of Top 10 SOL Token Applies Fixes After Outage

The Solana logo on a smartphone arranged in the Brooklyn Borough of New York, U.S., on Saturday, July 31, 2021. The Senate's bipartisan infrastructure deal envisions imposing stricter rules on cryptocurrency investors to collect more taxes to fund a portion of the $550 billion investment into transportation and power systems. Photographer: Gabby Jones/Bloomberg , Bloomberg

Joanna Ossinger, Bloomberg News

Sep 15, 2021

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(Bloomberg) -- The Solana blockchain linked to one of this year’s fastest-rising cryptocurrencies said it had implemented steps to make the network more resilient after overcoming an outage.

It also promised a post-mortem analysis in coming weeks. The network was restarted on Wednesday after an outage of more than 17 hours. The affiliated SOL token has tumbled about 18% over the past week but has more than tripled in the past month, according to tracker CoinGecko.

Proponents have touted the claimed speed and lower cost of transactions on Solana as well as its potential to support high-frequency trading strategies. Some argue the blockchain is a potential long-term rival for Ethereum, currently the most-used network for applications like decentralized finance and digital collectibles.

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