Solana is down 12% in price today after suffering yet another power outage on June 1
The outage latest for four and a half hours, according to the Twitter account Solana Status. According to this same account, the outage started at 1 pm Eastern Time.
It’s not the first time the Solana blockchain has suddenly halted – making many investors question whether Solana is the best network to diversify funds into.
Solana blockchain was down for four and a half hours
Validators in the Solana network were not processing new blocks for at least four and a half hours yesterday. This occurred as validators were unable to find consensus, therefore halting the blockchain and being incapable of recording new transactions.
Applications built on Solana’s blockchain – one of Solana’s core use cases – were taken offline as a result.
Validators were later able to restart the network. Solana’s blockchain is core to its USP as it claims to process 50,000 transactions a second, with an average cost per transaction of $0.00025. This is much faster than Ethereum which can process around 13 transactions per second at a cost oftentimes above $30.
Many Ethereum holders diversified into Solana last year, largely as it became dubbed the ‘Ethereum killer’ for its fast and low-cost blockchain with the smart contract and dApp functionality.
However, Solana also became locked up for several hours only on May 1 – unsurprisingly during this last outage, Solana has fallen in price while rival Cardano has jumped to 6th place in the crypto market cap rankings.
Three cryptocurrencies to buy on the BNB Chain
Earlier this year Binance merged its former Beacon Chain and Binance Smart Chain into one BNB Chain.
The native token BNB has remained as the 5th largest cryptocurrency by market cap all year and Binance has remained the largest crypto exchange by daily trading volume. All of this makes BNB and the Binance ecosystem one of the strongest competitors to Ethereum. The security of the BUSD stablecoin in the wake of the Terra Luna collapse (BUSD is the only stablecoin backed by US banks and with regular public audits) also points toward Binance as a safer haven for crypto investments than Solana currently.
Here are three cryptos to buy in 2022 in the Binance ecosystem.
EverGrow Coin sent off in September last year and has rapidly turned into the top reflection token in the Binance environment.
The task has paid more than $37 million in BUSD to financial backers since send off, while additionally consuming near 53% of its stockpile as per BSC examine. These utilities are supported by the 14% EverGrow Coin exchange charge with 8% disseminated as BUSD and 2% held back for buyback and consume.
EverGrow Coin will drop a NFT commercial center on the BNB chain in the following couple of works, while likewise constructing EverGrow Coin, BUSD, and BNB into its new happy membership stage Crator. Every one of these applications is intended to attract rookies to crypto and utilize the protected and quickly developing Binance environment.
The local BNB token is presently exchanging at a cost of $303. This is far underneath the unsurpassed high of $690 arrived at in November last year, and beneath the cost of $400 toward the start of May.
BNB has strong potential as both driving the Binance ecosystem and granting lower trading fees to users who hold BNB. The roadmap for BNB also will see 50% of its initial supply burned via monthly coin burns.
While Ethereum expects to change to another confirmation of stake agreement component, and Solana is in chaos, BNB could likewise before long ascent in the NFT market as a minimal expense elective.
PancakeSwap is the main robotized market creator (AMM) and decentralized crypto trade (DEX) on the BNB Chain. It permits clients to trade tokens, while giving liquidity through cultivating and acquiring charges consequently.
The local symbolic CAKE is the 66th biggest crypto token by market cap, with a complete valuation of $714 million. CAKE is right now exchanging at $4.30. The CAKE token can likewise be procured as a prize for marking and generally partaking in the PancakeSwap environment.
With the development of the more extensive BNB Chain, Pancake Swap is probably going to be brought along as one of its driving decentralized trades.
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