Solana Records One Outage in 2023 First Half, 100% uptime in the Second Quarter

Solana Records One Outage in 2023 First Half, 100% uptime in the Second Quarter
Written by Techbot

Layer-1 blockchain protocol, Solana, has recorded an impressive improvement in reliability and uptime since the April outage. This performance change differs from the blockchain’s previous years’ result, where reliability and uptime were critical challenges

However, a recent report reveals that the blockchain giant has registered a 100% performance since February this year. 

Solana Achieves Notable Performance in 2023

On July 20, the Solana Foundation released the recent performance report, revealing how much improvement the ecosystem has made all through the first half of the year. This performance was measured by the ratio of non-voting-to-voting transactions and uptime. 

Source: Solana Network

The report showed the blockchain’s massive improvement in reliability, in contrast to previous years, when Solana was encountering several major issues with uptime and reliability. 

Solana’s CEO and Co-founder, Anatoly Yakovenko, called these issues a “curse,” and believes that the ecosystem’s cheap transactions were the major causes of the network outages. Moreover, the latest report revealed the Solana has seen 100% uptime since this year’s February 25th, indicating an entire quarter without an outage. 

On February 25, the Solana network encountered a major setback in network degradation, leading to transaction disruptions. 

This further resulted in validators opting for an ecosystem restart. Interestingly, this outage also had a negative ripple effect on the broader crypto market and across other blockchains. Two days following the network outage, the Solana Foundation released a new update regarding the issue

According to the Solana team, the Solana mainnet was successfully restarted on February 26, and no confirmed user payments were impacted or rolled back. 

This wasn’t the only time the ecosystem was hit hard by an outage. In September 2021, the blockchain encountered a denial-of-service (DoS) attack by bots spamming Raydium. 

The bots also attacked the platform in May 2022, leading to a seven-hour outage. Then, in June 2022, a bug attack led to a consensus failure, and spurred another network outage, leading to a decline in the network’s price. 

The Solana Network Improvement so far

The latest report by the Solana Foundation emphasized that there have been amazing improvements in the network’s ratio of non-voting-to-voting transactions.

Voting transactions take place when a network validator votes to confirm at least one proposed block of information. On the other hand, non-network transactions are a result of user behavior on the network. 

Blocktimes, which evaluate how rapidly new blocks are introduced to the network, have also become steadier despite the surge during the outage. Another important term is the transactions per second (TPS), which also measures the ecosystem’s performance and throughput

Since January, Solana’s TPS has been steadily increasing, with significant growth that correlates with the recent blockchain updates, according to the blockchain giant. Dune Analytics recently reported the present figure of transactions per second on Solana, as 3,777 TPS. 

Furthermore, the Artemis dashboard, recently reported that the average number of daily transactions on Solana is 19.2 million. This has been the top of the rank before the recently surpassing Sui Network, which crossed 20 million due to the widespread fame of a Web3 play-to-earn game called 8192. 

Currently, Solana blockchain’s native coin, SOL, holds an increase of 0.80% standing at $25.67 at 14:21 EST. It was trading in the red early hours of today losing a whopping 4% from its July 20 price. 

But while SOL fluctuates with dips and slight rallies, investors can reposition for short term gains by purchasing some meme coins on presale such as the popular Wall Street Memes. 

Wall Street memes ($WSM)

Wall Street Memes, is one of the internet’s most popular communities and recently increased its importance in the cryptocurrency world. The project gained its fame during the 2021 meme stock frenzy.

With the scale of the Wall Street Memes community, its native token $WSM has recorded impressive performance, gaining over $13.9 million in just over a month. 

The project has more than 100k followers on its two Instagram accounts, wallstgonewild and wallstbullsnft, and 523k hyper-engaged community members on its wallstbets Instagram account.

Analysts believe that the Wall Street Memes 1 million-strong social group effectively ensures that the $WSM token will be listed on top-tier cryptocurrency exchanges like Binance.

Features of $WSM

  • NFT Integration

$WSM has NFT integration in its ecosystem due to the non-fungible tokens (NFTs) popularity gain. With this, there are chances for one-of-a-kind digital artwork, collectibles, and gaming experiences, adding value for token holders.

  • Decentralized Finance (DeFi)

The Blockchain-based $WSM is a decentralized financial (DeFi) platform. With $WSM you can easily access numerous financial services and still be the actual owner of your money, which involves borrowing, lending, and yield farming.

  • Memetic Nature

$WSM is approachable and appealing to many investors and enthusiasts due to its cheerful and lighthearted memetic nature. Its memetic trait generates a lot of curiosity and attention.

Presale Story of Wall Street Memes

The project has become one of the fairest and hottest cryptocurrency presales in 2023.

The pre-sale offers 50% of the token supply, and the remaining 40% is distributed as community prizes, 10% for CEX liquidity, and 10% for DEX liquidity. The remaining funds will be used for high-level marketing initiatives.

The $WSM token is live today, and 1 WSM equals $0.0322. Wall Street Memes have sold off tokens worth $16.7M in its final presales stage with a hard cap of $18.0M, 

It is reasonable to predict that airdrops to holders will play a significant role in the ecosystem, given that 30% of the token supply is being kept back for community benefits. The first $WSM airdrop is open right now.

How to buy Wall Street Memes?

Wall Street Memes coins are available for traders. Visit its official website and follow a few simple procedures outlined below.

Create a software/crypto wallet

You can buy Wall Street Memes coins directly from your CEX account, however, when claiming it, you will require a software wallet. Create a software wallet that is compatible with Polygon, (MetaMask or Trust Wallet). 

Get Crypto to exchange for $YPRED 

On a centralized exchange, buy USDT, ETH, MATIC, or BNB, then transfer the funds to your wallet. As an alternative, you could pay right on the exchange.

Visit the Wall Street Memes site

Next, go to the Wall Street Memes website, select the cryptocurrency you’ll be using to make the payment, copy the wallet address, and move on to the next step.

Make the payment

Just choose the crypto you want to pay with, paste the wallet address, choose the amount, and click ‘Send.’

Visit your software wallet, click receive, then choose MATIC and copy the address after you have made the money. Finally, paste the address into the box on the payment received page of the Wall Street Memes website.

Claim tokens

You can visit the Wall Street Memes website after the presale and claim your token. 

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