Reliable and Unreliable: Solana Price Plunges After Latest Network Outage | Cryptocurrency

Solana suffered its fifth outage of 2022, and the year is just five months old. A bug-related consensus failure was the culprit this time.

The Solana network is not having a good year, having suffered full or partial outages at least seven times in the past 12 months.

A bug took the Solana blockchain again offline as block production halted at 16:55 UTC on June 1. This latest outage lasted about four and a half hours, as validation operators managed to restart the mainnet around 21:00 UTC, according to the incident report.

Solana Labs co-founder Anatoly Yakovenko explained what happened in a tweet:

The durable nonce statement caused part of the network to consider the block invalid, no consensus could be formed.

‘Durable transaction nonce’ refers to a mechanism dealing with the typical short lifetime of a transaction block hash according to official Solana documentation. A bug in the functionality caused the nodes to generate different outputs, which resulted in a consensus failure, which ultimately caused the final downtime.

The network was restarted with this feature disabled, and Yakovenko added that fixes for the bug “will be available as soon as possible.”

Naturally, there was a lot of backlash from the community with comments like this filling their feed:

Get together Solana. We should already be past this stage. I am a big believer but I doubt even at this point.

CNBC crypto trader and Onchain Capital CEO Ran Neuner simply joked:

SOL prices have taken a huge hit with almost 14% in the past 12 hours or so, falling below $40, according to CoinGecko. The network’s native token has now fallen 85% from its all-time high of $260 in November 2021, and is on its way out of the top ten by market or so.

SOL/USD 24h –

Solana, who has often been dubbed an “Ethereum killer”, has been fully or partially offline at least seven times since September 2021, when he suffered outages related to denial of service attacks twice in the past. same month, according to the network availability tracker.

The blockchain was plagued with issues in January when it suffered outages and degraded performance for nine out of the month’s 31 days. Duplicate transactions were blamed for the second outage in January. In late April and early May, Solana was down again for nearly 8 hours due to NFT bots overwhelming the network.

Additionally, Solana’s blockchain clock is slow and 30 minutes behind real time. The status page notes “The channel’s time continues to run behind that of the wall clocks, due to longer than normal block times. »

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Reliable and Unreliable: Solana Price Plunges After Latest Network Outage | Cryptocurrency

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