“Engineers from across the ecosystem are investigating an outage on mainnet-beta,” the Solana team’s incident report read. While it is true that Solana has never officially announced that it was leaving the beta testing phase, a period meant to help identify bugs and evaluate performance in real-world conditions, at this point the phrase seems increasingly like a cop out.
Solana is a fully functional blockchain with a large and committed user base. It is the fifth-largest “DeFi chain” by total value locked, representing about $1.7 billion in capital committed to the various on-chain apps. SOL, the native token, is the fifth-largest cryptocurrency at a market capitalization of nearly $42 billion. It is frequently cited as one of the blockchains with the most exciting developer communities.