Posted 2/24/2024, 4:20:00 PM
Avalanche Blockchain Hit By 5-Hour Outage After Software Upgrade Bug
- Avalanche suffered a major outage lasting over 5 hours due to a software bug, halting block production
- The outage was caused by faulty logic introduced in a recent software upgrade, not by performance issues
- Some compared the outage to previous incidents with Solana, though Avalanche's issue stemmed from a one-time bug
- The outage combined with unlocking of $365M in locked AVAX tokens caused its price to drop nearly 10% this week
- Despite the outage, many traders remain confident in AVAX's long-term potential due to institutional adoption