Main navigation

First Time Since April, Solana Avoids Downtime on First Day of Month

Sat, 07/02/2022 - 18:54
article image
Arman Shirinyan
Solana finally avoids downtime at beginning of month
First Time Since April, Solana Avoids Downtime on First Day of Month
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Solana, which is notorious for its downtimes and technical issues on the first day of the month, successfully entered the new month with no issues for the first time since April.

The famous Solana critic, Evan Van Ness, is constantly tracking the performance of the network and notifies his subscribers if the blockchain's performance is degraded or is at an extremely low level—close to being unusable.

Luckily, the Solana status page suggests the network works fine with no issue whatsoever despite the "1st day of the month curse." The main reason behind the stable performance could be a lack of usage caused by the crash of the DeFi and NFT markets.

Solana launches Android phone

Back at the end of July, Solana officially announced the launch of Solana Android phone, which attracted a lot of attention in the cryptocurrency community. Unfortunately, it was overall not positive attention.

Various influencers, including co-founder of Cardano Charles Hoskinson, poked fun at Solana's newly launched products by mentioning the appearance of technical issues on the network that might affect the products.

Troubled Hedge Fund 3AC Files for Bankruptcy Protection

Previously, Solana experienced degraded performance on the network because of the Beta Clock Drift on mainnet, which causes on-chain timekeeping to run almost 30 minutes behind a wall clock. While the issue was not critical, the network was still working with short-term downgrades, and processing time was significantly higher.

As for the market performance of Solana, the network's underlying cryptocurrency is trading at $32 and fails to impress investors with its performance as it had lost more than 70% of its value in the last three months.

article image
About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.