Solana Mainnet Celebrates Four Years in Operation

Solana (SOL) mainnet is celebrating four years of being in operation since March 16, 2020. The numerous controversy and heated debates surrounding its availability, scaling, reliability, and UX, did not prevent the programmable blockchain from celebrating its “Genesis Day”, as the occurrence is popularly referred to. 

For the longest time, Solana prides itself as an inevitable part of the global blockchain ecosystem as well as a crucial element of the Decentralized Applications (DApps) niche. 

Solana Fourth Anniversary: Down The Line

In the space of four years, Solana has had an impressive journey. It hit several milestones including processing about 254 million blocks that included 276 billion transactions. 

For its printing time, Solana’s decentralization has a total of 1,600 validators behind it. These validators demonstrated the blockchain’s commitment to decentralization as they are responsible for ensuring the presence of a stable distributed infrastructure.

DappRadar claims that the blockchain has successfully supported 248 DApps of which Jupiter exchange and Raydium are the largest Decentralized Finance (DeFis) in terms of trading volume. Similarly, Solana DEX is at an all-time high (ATH) as the entire 24-hour DEX volume in Solana surpassed the $3.5 billion level. According to data from DeFi data aggregator DeFi Llama, Solana’s weekly DEX volume hit over $13.3 billion on Saturday. 

SOL Price Sees Consistent Rally

Solana native cryptocurrency SOL is holding strong in the market at a significant position. The coin, which currently occupies the position of the fifth largest cryptocurrency in terms of market capitalization, is trading at $190.97 with a 0.47% in the last 24 hours, per data from CoinMarketCap. The coin is gradually approaching $200 as the bull run continues.

Ripple-associated XRP is SOL’s closest rival at the moment but it still maintains a reasonable distance away from the former. 

Amongst the several achievements that Solana has recorded is the mega sales of its android phone Saga. The phone once sold for as high as $5,000 on popular e-commerce platform eBay. 

Solana Mainnet Experience Several Periodic Outages 

Meanwhile, Solana’s journey has been without some challenges, especially in the last few months. Some outages have been reported on the protocol by several users. The blockchain has equally received criticism for the periodic outages. However, its stability, development, and numerous milestones have contributed to mitigating these problems. 

As it celebrates its fourth anniversary, Solana would possibly introduce more updates and release a permanent fix for the outages, thereby allaying the fears of concerned users.