Not Again: Solana (SOL) Down 4% as It Suffers Another Outage

Solana network is back online after experiencing another outage that had it offline for six hours during the early hours of October 1.

Solana Status revealed that the network was not processing transactions, adding that “developers across the ecosystem are working on diagnosing the issue and restart the network.”

The Solana network is experiencing an outage and not processing transactions. Developers across the ecosystem are working on diagnosing the issue and to restart the network. More information will be provided as it becomes available.

— Solana Status (@SolanaStatus) October 1, 2022

This marks the eighth time that the network has gone down since its launch. 

What led to the outage

A Solana validator stated that the recent downtime was caused by a misconfigured node that caused an unrecoverable network partition.

A Twitter thread from the same validator explained that the downtime appeared to have been caused by a validator that propagated an invalid block.

At the same time most operators weren’t seeing new roots and it soon transpired that the network was in fact stuck.

Quickly it was identified that a validator appeared to have propagated an invalid block. Not an issue in itself and something the network should handle.

— Laine (@laine_sa_) October 1, 2022

According to the thread, the offending validator was running a duplicate instance, and both produced a block. The block production led to a fork that created an “obscure code path where validators were unable to switch back to the heaviest (main) fork.” Simply put, Solana validators were stuck on the wrong fork.

The problem was mitigated after 80% of Solana validators restarted the network.

Validator operators successfully completed a cluster restart of Mainnet Beta at 7 AM UTC.

Network operators an dapps will continue to restore client services over the next several hours.

— Solana Status (@SolanaStatus) October 1, 2022

Community lambasts Solana

The crypto community has lambasted Solana for recording another outage this year.

Members of the community compared Solana’s frailty to other networks, implying that SOL’s downtime has become a monthly affair.

Sqlana has been down for hours.$SOL also went down on April 1, May 1, June 1 and July 1

It is October 1 in much of the world.

— Evan Van Ness (@evan_van_ness) October 1, 2022

A user also questioned the essence of Solana’s high Nakamoto coefficient if only one node can cause the network to go offline.

Def not FUD…honest question…what good is a nakamoto coefficient of 30 if 1 misconfigured node can bring everything to a halt?

— Alohacowboy (@alohacowboysol) October 1, 2022

Justin Bons, a crypto researcher and founder of Cyber Capital, said no blockchain should have this much downtime; it is just evidence of Solana’s bad design.

Bons said:

“The reality is that SOL is not innovative at all! It is just the first major blockchain to be so reckless in their fundamental design. While pretending as if that is innovative (to attract investors)”

He added that Solana has a pattern of bad behavior, including lying about circulating supply, inflating usage, false representations of its TPS, etc. 

In his view, Instead of focusing on solving scaling through sharding and Layer-2 solutions, Solana has been using hardware as a solution to its problem. He also criticized the Sol phone, which he described as not what cryptocurrency needs or wants at this moment.

SOL community defends the network

Solana community members are claiming that the network downtime is caused by the volume of activity on the network. A recent Delphi Digital data revealed that Solana’s share of NFT trading volume has increased by 3x over the past 6 weeks.

Solana’s share of total NFT trading volume has increased from 7% to 24% over the past 6 weeks.

— Delphi Digital (@Delphi_Digital) September 29, 2022

Another community member pointed out that the network will be fine for as long as the developers continue to improve the chain.

Solana will be fine. As long as the devs continue to improve the chain. That is what’s important. Still bullish on Sol for the long term.,.,,,..,

— Opensea GermsNFT (@Bernade28159735) October 1, 2022

SOL price down

As of press time, SOL is down 4.2% in the last 24 hours and trades at $33.06, according to data from Coingecko.

On the seven-day metrics, the digital asset has shed roughly 2% of its value.

Source: TradingView

For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here

The post Not Again: Solana (SOL) Down 4% as It Suffers Another Outage appeared first on BeInCrypto.

Related Posts

BlackRock CEO: FTX caused its downfall, but Bitcoin is still revolutionary for the evolution of financial markets

The BlackRock CEO still sees crypto assets as revolutionary, even though he disagrees with the issuance of tokens by centralized exchanges. The CEO of the asset management…

IOTA: Holders of $SOON can stake their tokens, get massive discounts and more – Report

Soonaverse brings a staking feature for its $SOON tokens with 2x rewards points for disciplined stakers. It will also bring a greater level of decentralization to how…

Turning Garbage Into Digital Gold: The Rise Of Landfill Bitcoin Mining

Powering bitcoin mining operations with landfill waste is the latest trend in sector growth as miners capitalize on wasted and stranded energy resources. Powering bitcoin mining machines…

Blur Airdrop 2 Is Scheduled For Monday: Is Free Money Season Back?

NFT marketplace, Blur is back with a second airdrop for its users. In a tweet on Wednesday, November 30, Blur announced that its airdrop 2 would arrive…

Russian Billionaire and Crypto Businessman Dies in Helicopter Crash in France

Russian financier and cryptocurrency entrepreneur Vyacheslav Taran has been killed in a helicopter crash on French territory. The accident marks the latest in a series of deaths…

Binance Plays Chess With Troubled Crypto Firms Struck by FTX Contagion

Binance continues with auditing and acquisitions following the collapse of rival exchange FTX, the contagion from which continues to spread. With the collapse of FTX, other crypto…

Generated by Feedzy