Phantom Wallet, the dominant Web3 wallet in the Solana ecosystem is reportedly down, another case of outage rocking the Proof-of-Stake (PoS) layer-1 blockchain network in recent times.

Phantom Wallet Outage: What We Know

According to the accounts from members of the Solana and Phantom Wallet communities, the browser version of the wallet does not permit submitted transactions to be viewed. Additionally,  transactions initiated on Phantom Wallet could not be submitted with users having no idea what could be wrong.

Several users have corroborated the claims of the Phantom Wallet outage, however, the claims of the app’s unavailability appear not to be a general trend. While some users are unable to access their accounts or complete transactions, some claim to have filed a successful transaction over the past few hours.

The screenshot of a transaction showcased by Independent Crypto Journalist Colin Wu displayed a “no data” prompt on the overview page of the browser wallet. Phantom Wallet has not acknowledged any of these outage claims, a situation that implies the downtime is not comprehensive yet.

The community reported that the Phantom wallet transfer could not be submitted and was suspected to be down. Currently, SOL transfer transactions cannot be viewed in the blockchain browser after being submitted to Phantom Wallet. pic.twitter.com/ggkrvaYmzs

— Wu Blockchain (@WuBlockchain) March 17, 2024

Phantom Wallet is not alien to downtimes and as a Solana-based wallet, this is largely not a surprising event for many users. Earlier in February, Phantom Wallet was hit with a DDoS attack, a situation that forced the protocol to halt transactions and services temporarily.

With the growth of Solana in recent times, Phantom has also recorded immense growth. Earlier this month, the protocol celebrated 4 million monthly active users, a large user base that might largely fuel congestion on its platform. Overall, Phantom Wallet is not free from any related hiccups as a major transfer from the parent Layer-1 blockchain.

Permanent Resolution to the Solana Outage Menace

With Solana growing as a network and SOL’s expanding dominance as a digital currency, the Solana Foundation is actively exploring solutions to bring an end to the regular outages it suffers. As reported recently, the Solana Foundation is exploring making priority fee payment a standard for applications built on the network.

Additionally, the new design hacks will seek to leverage the optimization of the total compute units (CU) usage. This innovation will be encouraged to increase the amount of transactions that can land on the network, thus enhancing its overall throughput/scalability.

Many experts are bullish on Solana and despite its technological prospects, there is a consensus that the outage menace might stump its bid to outpace Ethereum if not resolved.

The post Phantom Wallet Is Down, Users Tease New Solana-Linked Outage appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am