Solana Dropped 10% Because of the Long-Lasting Network Error
On September 9th, Solana reached its all-time high, and this Friday it came crashing 10% down due to the long-lasting error that occured in the network. The capacity of the network reached its peak of 400K transactions per second. It was overwhelmed, and several nodes stopped working.
Although the problem was fixed, it affected the price of the SOL token. In its turn, the downfall of Solana caused the 4% boost of Ethereum price. Some experts noticed that Ethereum had a similar problem when they started their journey.
Some of them suppose that such mistakes are a matter to learn from. Solana is considered an alternative for Ethereum but maybe the cryptosphere isn’t ready for fast scalable smart contract networks at the moment.