Solana Block Production Resumes After 5-Hour Outage
Five hours after a Solana outage, the Layer-1 network has now resumed block production.
Solana Outage Fixed
A recently published update confirmed that the Solana outage which began at 09:53 UTC and lasted for 5 hours has finally been fixed. Consequently, block production on the beta mainnet has resumed as before. Notably, the resumption was possible as a result of a successful upgrade to version 1.17.20 and a restart of the cluster by validator operators.
Even with the Solana outage out of the way, the engineers in charge of the mainnet will keep monitoring the performance of the system. Additionally, the root cause report will be made available as soon as core contributors are done with their compilation.
The Solana ecosystem suffered a serious performance degradation earlier today with similarities to the previous attacks on the protocol. There have been other attacks on the Solana ecosystem since the beginning of this year but this happened to be the first major disruption that will halt activities across the board.
Some experts attributed the Solana outage and others that have happened before now, to the design of the system. For context, Solana consensus are basically handled on-chain, meaning that all validator’s communication happens on chain just like a transaction.
This triggers a massive rise in transaction volume as well as TPS and then the Solana outage.
Fate of Solana After the Network Slump
Unfortunately, the incident led to an interruption in Solana’s services. Prominent cryptocurrency exchange Upbit temporarily suspended the deposits and withdrawals for SOL, GMT, RAY, and ACS tokens.
According to Upbit, SOL staking services would not be restored until normal network operations are restored. This move aims to ensure stable deposit and withdrawal services for users amidst the network’s performance degradation.
Similarly, Cardano founder Charles Hoskinson also mocked the Solana network in the wake of the outage, underscoring the ongoing rivalry between the two networks.
SOL suffered a slight price plunge due to the Solana outage but with the system back on, the coin is likely to regain its bullish pace moving forward. At the time of this writing, SOL was trading at $95.53 with a 0.49% drop in value within the last 24 hours.
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Filed under: News - @ January 1, 1970 12:00 am