After the current network interruption, the cost of Solana plummets

Even though the year is just five months old, Solana has already had its fifth interruption of 2022. This time, a bug-related agreement breakdown was to blame.

The Solana system has had a bad year, with completely or partially failures occurring at least a few times in the last 12 months.

Block generation on the Solana blockchain was paused at 16:55 UTC on Wednesday. As per the adverse event, the current disruption extended almost four and a half hours before validation administrators were able to resume the mainnet at about 21:00 UTC.

Anatoly Yakovenko, co-creator of Solana Labs, revealed what unfolded in a tweet:

“A persistent numpty directive prompted a portion of the system to deem the transaction illegitimate, preventing the formation of a majority.”

As per the original Solana literature, “persistent transactional cretin” relates to the process that addresses the normal limited life of a transactional block digest. The recent stretch of the outage was triggered by a flaw in the functionality, which led networks to provide high variation, culminating in agreement breakdown.

The system was relaunched with this function turned off, and Yakovenko promised that the issue will be fixed “as soon as possible.”

Unsurprisingly, the audience reacted negatively, with remarks like this flooding the site’s stream:

“Solana, get your act straight. We should have moved on by now. I’m a person who believes, but I’m beginning to have second thoughts.”

Ran Neuner, a CNBC cryptocurrency investor and the CEO of Onchain Capital, plainly said:

As per CoinGecko, SOL values have plummeted about 14 percent in the last 12 hours, falling under $40. The channel’s native coin has dropped 85% from its all-time record of $260 in November 2021, and it is on the verge of falling out of the top ten by the market price.

As per the system availability monitor, Solana, which has now been branded an “Ethereum assassin,” has been partial or total down at least a few times since September 2021, when it experienced denial-of-service strike disruptions twice in the very monthly.

In January, the cryptocurrency was beset by issues, with service outages and decreased efficiency for nine of the month’s 31 days. The next disruption in January was attributed to identical operations. Solana was down for about eight hours in late April and early May owing to nonfungible currency money printing bots overloading the system.

Furthermore, Solana’s ledger clock is sluggish, running thirty seconds below real-time. ” On-chain time remains to lag behind other the rest of the network,” the current page states.


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