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The Solana blockchain is back up and running following a four-hour outage due to a software error, the latest in a string of network outages in less than a year. In January, the digital asset's network saw a wave of outages and service difficulties that lasted up to 18 hours, enraging traders who watched their portfolio values plummet while unable to sell tokens. According to a tweet from Solana earlier in the week, the network and all cash are safe. Solana's quick ascension to the top echelon of crypto's effective alternatives to Bitcoin and Ethereum has been slowed in recent months by outages. https://twitter.com/SolanaStatus/status/1532082272316293121 The head of Solana Labs Communication heaped praises on the Solana Network and tweeted, https://twitter.com/Austin_Federa/status/1532524283062263815
Solana - Highly Active Open-Source Project
Solana is a highly active open-source project that uses the permissionless feature of blockchain technology to create decentralized finance (DeFi) solutions. According to CoinGecko, Solana is one of the top ten cryptocurrency assets. However, it is down significantly from its all-time high of $259.96, established in November 2021. Solana is a blockchain comparable to Ethereum in that it is a general-purpose blockchain. It has a different technical foundation than Solidity or Vyper. Therefore, developers design apps in Rust rather than Solidity or Vyper. The Solana ecosystem's end-user applications are decentralized finance (DeFi), non-fungible tokens (NFT), markets, games, e-commerce, and more.