The post Solana Blockchain Down! Network Experiences The First Outage This Year, Increasing Market Fear appeared first on Coinpedia Fintech News
Solana (SOL) network, a top-tier layer one blockchain with more than $1.67 billion in Total Value Locked (TVL) and over $2.2 billion in stablecoins market capitalization, has experienced an unexpected outage for the past hour leading to this publication. According to on-chain data provided by Solanabeach Explorer, the last block to be confirmed was about 52 minutes ago, meaning no Solana-based transactions have been going through.
Meanwhile, Solana’s team of engineers has acknowledged the outage and notified the community that an investigation is underway to ensure a fast solution. Furthermore, there is no smart contract on the Solana network that has been working during the outage, thus unconvincing all its web3 projects like Orca DEX, and Solend lending, among others.
Engineers from across the ecosystem are investigating an outage on mai
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