Trading News

Read The Latest News & Analysis

Solana Blockchain Faces Another Outage in Five Months

Solana Blockchain
Share on:

Solana Blockchain went offline on Wednesday after a bug related to the consensus failure halted the block production. This is the fifth outage for the blockchain in 2022.

SOL has sizeable believers’ support among other cryptocurrencies. The coin saw a fantastic price rally in 2021 catapulting it into the ranks of the top five biggest cryptocurrencies according to market cap.

Solana blockchain started facing issues with a huge number of transaction requests and DDoS attacks in the latter half of 2021. Since the start of 2022, Solana blockchain has faced 5 outages and 7 in total since last year.

According to the incident report shared by the Solana network, the issue surfaced at 16:55 UTC yesterday. The blockchain went offline as a result of a bug incidence.

After four hours of outage, validators brought the blockchain online again after four and a half hours at around 21:00 UTC.

Solana is still considered one of the best crypto projects out there. There are NFT marketplaces and many other projects built on top of the Solana blockchain. Therefore, the community has faith in SOL.

However, the frequent outages are earning a bad name for the project. A user wrote on Twitter “Get it together Solana. We should be past this already. I’m big believer but I’m even doubting at this point.”

SOL’s price is 85% down from its all-time high. It is currently trading at around $40. Here is the timeline of outages since 2021:

September 2021 – Denial of Service Attack Twice in the Month

January 2022 – Service Disruption and Degraded Performance for Nine Days & Another Outage due to duplicate transactions.

April 2022 – DDos Attack

May 2022 – Another NFT mining Bot Attack Overwhelming the Network

Recent News

crypto market

Tesla Sold 75% of its Bitcoin Holdings

Tesla has backed off from its bitcoin investment The electric car company sold 75% of its Bitcoin holdings in the second quarter The financial disclosure report of

crypto market

Another Day, Another Crypto Scam

Another day, another crypto scam Crypto Hackers managed to hack the official Twitter, Facebook, and YouTube accounts of the British Army on Sunday They started posting phishing

crypto market

Major Crypto Coins are Facing Slump

Major Crypto Coins faced losses last Friday after slumping to their lowest levels of the year The market cap of the 100 largest crypto tokens declined by 50% Bitcoin has done

crypto market

Over 50% of Bitcoin Holders are in Profit

Bitcoin fell to $17,600 over the weekend The price reached a 19-month low after retracing 845% from all-time highs However, 562% of bitcoin holders are still in profit This

Let's Chat
Facebook
Twitter
Instagram
Pinterest
Youtube