Did Solana (SOL) Developers Put the Instability Issues Away Forever?

There are several NFTs hosted on the Solana Network.  SolSea is the first marketplace that supports the creator economies and integrates trading of NFTs using project tokens. Integrating that system they are giving the token the next level of utility and usage by holding and trading with them.

The trading formula for those who hold SOL is the standard, DeFi blockchain, Metaverse, and P2E are Pumping. You need to Keep an eye. You need to wait for the dump to enter with a stop loss.  The rules of the game are same as usual for all blockchains. And, all of these should be done without FOMO and with lot of emotional management.

Since start of downturn of the overall cryptocurrency market space (April 1st): ∙ 2.1 million Solana NFTs have been minted ∙ 1.3 million total unique wallets holding Solana NFT added ∙ $555 million in GMV added ∙ $85 million in Primary Sales by Metaplex and all of these make things feel Bullish.

Solana Defi is growing greatly. The daily active users are up by 380%.

Solana is known for rebooting.  So, this is a major downside despite the best products on Solana.

On April 30th, Solana’s Mainnet Beta cluster suffered a 7 hour outage caused by stalled consensus.  An  investigation into the cause of the outage was made.  Details of the steps core developers were taking to increase network resiliency and stability was published.

On May 01, 2022, Solana:  “Validator operators successfully completed a cluster restart of Mainnet Beta at 3:00 AM UTC, following a roughly 7 hour outage after the network failed to reach consensus. Network operators an dapps will continue to restore client services over the next several hours.”

Community Reaction:  Is Solana currently on “Mainnet” or “Testnet”? “Mainnet Beta” sounds a lot like a fancy way of saying “Testnet.”

Perhaps it is time to implement Proof of Down, seems to happen often enough, that it may just work – Rebooted again and again. The important question is, do you know why it happened in the first place and how to prevent another such incident? Solana is a good network but stuff like rebooting shakes trust.

Did this happen because Solana has not been peer reviewed like Cardano? Any idea when everything will be up and running and fully synchronized again?

When will Solana work without any downtime? This will become ongoing for years to come.  The only way to fix this is to become decentralized by adding more true validators.  I guess this will mean giving up on speed but adding stability.

What will happen to pending transactions, when the network goes down?

Someone said, To all the Solana naysayers, the devs have clearly put the instability issues to bed. Not a single incident for the whole of May!