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Solana Faces Major Outages: Engineers Are Working To Fix The Problem

Solana blockchain, known for its strong performance, is currently facing a serious disruption. Solana Status account confirmed that the disruption caused the network to go offline for more than half an hour, which is a big deviation from the typical uninterrupted operation.

According to the official update from Solana Status at UTC time 10:22, the “mainnet-beta” encountered a disruption, prompting the engineers of the entire ecosystem to quickly identify and resolve the root cause. Solana blockchain explorer also confirmed the downtime, with a “severe outage” label flashing on the mainnet.

It is worth noting that Solana blockchain, famous for its fast block time of 400 milliseconds, has not produced a block in 2 hours and 29 minutes.

Solana validator Stakewiz reported that the developers are actively developing a version containing the fix. Once built and tested, the instructions for the validators will be released. The validators are currently using their local ledger state to generate snapshots, to prepare for the restart after the core engineers finalize the version.

Technical details and validator preparation The validators are processing the snapshot of slot 246464040, to ensure the consistency of the bank hash of that slot. The upcoming mainnet-Beta cluster will use version 1.17.20, and also provide jito-solana version.

It is reported that the state is consistent, and the validators are waiting for the final confirmation from the core engineers.

According to Stakewiz, once the cluster restarts (80% of the stake comes back online), the validators will process blocks, but most dapps will not work until the RPC providers restart. According to the company, Solana is currently up and running 25% latest report.

Impact on cryptocurrency exchanges and SOL tokens Solana network disruption had a direct impact on cryptocurrency exchanges, Upbit announced the suspension of deposits and withdrawals of tokens based on Solana, including SOL, GMT, Raydium and Access Protocol (ACS). After the news came out, Solana’s SOL token fell 3.66% to $94.

This disruption echoes a similar event that occurred in April 2023, when Solana network faced nearly two days of downtime. It is noteworthy that this marks the eleventh disruption of Solana blockchain in the two years since its launch.

Sentiment: Positive

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