Reliably unreliable: Solana price dives after latest network outage

74
SHARES
1.2k
VIEWS

The Solana community shouldn’t be having a very good yr, having suffered full or partial outages at the least seven separate instances over the previous 12 months.

A bug has knocked the Solana blockchain offline once more as block manufacturing halted at 16:55 UTC on Wednesday. This newest outage lasted round 4 and a half hours as validator operators managed to restart the mainnet at round 21:00 UTC, in keeping with the incident report.

Solana Labs co-founder Anatoly Yakovenko defined what occurred in a tweet:

“Sturdy nonce instruction brought on a part of the community to contemplate the block is invalid, no consensus may very well be shaped.”

“Sturdy transaction nonce” refers to a mechanism addressing the standard brief lifetime of a transaction block hash in keeping with the official Solana documentation. A bug within the characteristic brought on nodes to generate totally different outputs leading to consensus failure, which finally brought on the newest interval of downtime.

The community was restarted with this characteristic disabled, and Yakovenko added that fixes for the bug “will likely be out ASAP.”

Naturally, there was a good quantity of backlash from the neighborhood with comments like this filling up its feed:

“Get it collectively Solana. We ought to be previous this already. I’m huge believer however I’m even doubting at this level.”

CNBC crypto dealer and Onchain Capital CEO Ran Neuner merely quipped:

SOL costs have taken an enormous hit, tanking virtually 14% over the previous 12 hours or so in a fall under $40, in keeping with CoinGecko. The community’s native token has now slumped 85% from its November 2021 all-time excessive of $260, and it’s poised to slide out of the highest 10 by market capitalization.

SOL/USD 24 hours. Supply: CoinGecko

Solana, which has typically been dubbed an “Ethereum killer,” has been totally or partially offline at the least seven instances since September 2021, when it suffered denial of service attack-related outages twice in the identical month, in keeping with the community uptime tracker.

The blockchain was plagued with issues in January when it suffered service disruptions and degraded efficiency for 9 days out of the 31 within the month. Duplicate transactions have been blamed for the second outage in January. In late April and early Might, Solana was down once more for nearly eight hours attributable to nonfungible token minting bots overwhelming the community.

Associated: Solana suffers 7 hour outage as bots invade the community

Moreover, Solana’s blockchain clock is gradual and operating half-hour behind real-world time. The standing web page notes, “On-chain time continues to run behind that of wall clocks, attributable to longer-than-normal block instances.”

Source link

You might also like

Recommended For You

Next Post

Leave a Reply

Your email address will not be published.

Related News