• Tue. Oct 3rd, 2023

Solana Network is Facing Issues as Outage Series Continues

Hassan Mehmood

ByHassan Mehmood

Jun 30, 2022

Solana network is no stranger to outages. Recently, the blockchain network experienced yet another outage of four hours following the discovery of a bug. The outage made a bad impression on the investors regarding the stability and reliability of the network, which was reflected in the price of the SOL token. On the intraday trade, SOL is down by 11%.

For the time being, the node validators have managed to restart the blockchain once again after a temporary outage. Some media sources suggest that the Solana blockchain went out of commission for about 6 hours. The bug stopped the execution of the new blocks on the network. The issue was addressed and informed by the Twitter account of the Solana blockchain and also on their website.

Solana’s Co-founder Unveils Plans to Tackle Network Outage

Network co-founder Anatoly Yakovenko recently took to Twitter to address the concerns of the Solana community members.

With a team of developers on his side, he informed that the bug emerged from the nonce feature of the network. He further informed that the bug made the blockchain unable to recognize part of its blocks and rejected them, which resulted in the lag.

Much like an auto-immune disease, it did not take much time when the Solana network started to freeze up and lag. The team of node validators at Solana network joined their heads to address the issue and managed to restart the network within a few hours.

However, Yakovenko has updated the users that the bug will be fully fixed in the next update. While most of the network went back online within 4 hours, some parts of the RPC nodes were still in queues.

Solana network has gained popularity as an NFT trading and dApps hub with blockchain gaming projects and other DeFi services. The latest data from CoinMarketCap suggests that Solana has lost 11% market value in the last 24 hours.

Furthermore, the on-chain metrics aggregator also pointed out that the SOL token has been down by 84% since November last year.

Despite being willing to compete with the blockchain networks like Cardano and Polygon, the Solana network has been vulnerable to frequent outages. Last September, the blockchain network went out of commission for 18 consecutive hours due to the over-crowding following the launch of a new DeFi token.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

Leave a Reply

Your email address will not be published. Required fields are marked *

Skip to content