Solana, the third largest cryptocurrency by market cap, has fallen almost 12% in the last 24 hours as the platform suffered its second outage in the last month alone.

Applications using the Solana blockchain experienced a mass shutdown as network validators were unable to process new blocks for several hours.

The Solana team have since described the main cause of the problem as ?A bug in the durable nonce transactions feature? with validators conducting a restart to fix the issue.

Despite offering faster and cheaper transfers compared to alternative chains, Solana?s shortcomings have been exposed over the past year with multiple outages occurring.