Solana Experienced Its Seventh Shutdown This Year

In the hit of the crypto space trying to recover from the recent bearish trend, Solana on the other hand has been from one outage to the other. Wednesday would total the seventh outage experience this year in the Solana network.

Data from Solana Beach show that Solana's block validators have not been able to create new blocks for over 6hours, causing an absolute shut down to all participants in the Solana network.

According to a recent official tweet from Solana status, it was explained that block production would be halted due to the bug that affected the presentation of real-time production on each block, causing the blocks to produce different results from input requests. And it was said restart from validator operations would get Solana back and running.

The Solana network which has braced itself by claiming to be a high-performance blockchain has in the past months created huge doubts for its users.

This outage has surged Solana's price down below $40, breaking the lowest support of $38.40 as of August 2021, and this makes it the second since the 1st of May 2022.

Instruction has been passed to validators to begin restart in MB-validator on Discord. The previous bug on May 1st was a 7hours shut down until validators did a restart on the network.

Solana has since the incident received a fair amount of lashes from users voicing their dissatisfaction with the numerous amount of outages in recent times, and a few pulling out their investments from the network, fearing their incompetency in keeping their investment safe and secure.

Russia Has Taken a Huge Step Closer to Making Cryptocurrency a Legal Tender With Its Recent Crypto Activities

Confronted with the strict Financial sanctions on Russia by the western economy, Russians' activities around the crypto space have greatly increased.

On 26 February 2022, the Central Bank of Russia was blocked from accessing more than $400 billion in foreign-exchange reserves held abroad and the EU imposed sanctions on several Russian oligarchs and politicians following the Russian invasion of Ukraine, as reported by Wikipedia.

Due to these strict financial sanctions, Russia was forced to use cryptocurrency as means for cross-border transactions to bypass sanctions.

Most recent activities in the crypto space have shown a huge possibility for Russia to soon make cryptocurrency a legal tender as a report said that a closed meeting was held by the Central bank of Russia, specific Russian ministers, brokers, the Saint Petersburg Stock Exchange and Information system operators concerning adding cryptocurrency to exchange listing. This action aim is for effortless intercountry exchange with the aid of a cryptocurrency exchange system in the financial sector. This means that the Central bank of Russia has come to terms with the acceptance of cryptocurrency into the country's financial system.

In alliance with the adoption, crypto mining has been legalized in Russia, and businesses have been registered to that effect.

The world in Russia is getting closer to crypto adoption. The question is, how soon would this happen?