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Stepn x Adidas Genesis Sneakers: A New Era in Fitness

The Stepn x Adidas Genesis Sneakers Collection: A Revolutionary Partnership The fusion of the digital and physical worlds is more than a trend; it is a burgeoning reality. The recent collaboration between Stepn and Adidas exemplifies this transformative shift. With the launch of the Genesis Sneakers collection, both companies are poised to redefine the boundaries of fitness, fashion, and technology in lifestyle rewards. This partnership is not only groundbreaking but also sets the stage for future innovations in the ever-evolving landscape of fitness applications and digital assets. A New Era of Phygital Experiences Stepn, a pioneering move-to-earn FitTech app, has taken a bold leap by teaming up with a global powerhouse like Adidas. This collaboration signifies a pivotal moment in the fitness and lifestyle sector, as highlighted by Stepn CEO Shiti Manghani: Phygital Partnership : The merging of physical and digital assets marks a new direction for lifestyle rewards. Enhanced...
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Produced by Daniel Aharonoff & Mogul Media AI

Solana Price Drops 4% After Major Network Outage

Solana Faces Setback: Price Dips Amid Major Network Outage

In a world where digital currencies are becoming increasingly volatile, the Solana network has found itself at the center of scrutiny following a significant outage. The price of Solana (SOL) has taken a hit, dipping over 4% in a single day, a stark reminder of the fragility that can accompany technological innovation in the cryptocurrency space.

Price Movement and Current Status

According to data from CoinGecko, Solana’s price plummeted to $93.36 before a slight recovery brought it back to $93.70. This represents a decrease of:

  • 4.1% on the day
  • More than 11% over the past week

Outage Details

The Solana network’s status page confirmed a major outage affecting the mainnet beta cluster, with engineers from across the ecosystem urgently investigating the situation. The incident was reported at 10:22 a.m. UTC, prompting immediate action from the development team.

  • Engineers have rolled out a new validator software update, version v1.17.20, addressing the issue that caused the cluster to halt.

Historical Context of Network Outages

This recent outage is not an isolated incident for Solana. The network has faced similar challenges in the past, notably in February 2023, when it was down for almost 20 hours. Such occurrences raise questions about the network’s reliability, especially considering that co-founder Anatoly Yakovenko previously suggested that the upcoming Firedancer client would provide a long-term solution to these issues.

  • The early version of the validator client, known as Frankendancer, was introduced on a testnet in November, with expectations to transition it to the Solana mainnet by summer. The ambition is to have Firedancer functioning as a fully independent validator by the end of 2024.

Underlying Issues and Future Prospects

Many of the outages experienced by Solana can be traced back to software issues within the validators that operate the network nodes. The development of Firedancer aims to bolster network resilience by providing a backup software option for validators.

Positive Developments

Despite the recent challenges, there are positive signs for Solana. Last week witnessed a surge in network activity, with trading volumes on Solana’s decentralized exchanges briefly surpassing those of Ethereum’s DEXs. This uptick in activity was fueled by excitement surrounding the forthcoming Jupiter airdrop.

The volatility of the cryptocurrency market is a double-edged sword, presenting both risks and opportunities. As Solana navigates this current setback, the community remains hopeful for improvements that could enhance the network’s stability and performance in the future.

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