Solana network: new outage, danger for the “Ethereum Killer”?

Updated on Oct. 03, 2022 at 9:04 a.m.

The Solana network suffers from a new outage that occurred this weekend. Why does this high-performance blockchain suffer so many breakdowns? Isn’t that a sign of greater weakness?

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9th outage of the year for the Solana network

Occurred in the night from Friday to Saturday, the Solana network recorded its 9th failure of the year 2022 (the 4th major). The latest dated back to early August and had impacted nearly 7,000 wallets.

This weekend and for almost 6 hours, Solana and its validators were unable to process the transactions. The network therefore passed offline while the developers worked hard to find the problem and fix it.

Tweet Solana regarding the outage
Tweet from Solana and Solana Status announcing the network outage

According to a group of validators, the failure was caused by a misconfiguration of one of theirs. Indeed, the latter accidentally created a fork by exploiting a bad score. creating a dysfunctional version of the network, the fork led to a double production of blocks.

Therefore, validators were not seeing the same version of each block and they could not come to a consensus.

According to the network settings, this kind of problem is supposed to resolve itself automatically. Here, however, it was not the case and the blockchain had to be stopped.

The developers fixed the problem by restarting the chain at block 153,139,220, the last block committed before the malfunction. The network was able back to normal at 9 a.m. morning this Saturday.

Solana network: why so many outages?

Solana is causing mixed feelings within the crypto community. Indeed, it is very highly appreciated because of its mode of operation based on the consensus of proof of history (PoH).

The latter gives it incomparable qualities, in particular high-performance scalability and relatively low transaction costs. This is why he is often called ” Ethereum Killer ” as its strengths allow it to compete with the Ethereum blockchain.

As a result, it attracts many projects related to DeFi Dapps, NFTs and Play to Earn.

However, Solana’s image suffers from the many breakdowns that occur regularly on its network. Sometimes of short duration, they can however be spread over several hours.

Since its creation, the Solana network has nearlyabout ten major breakdowns. Most of them are the result of recurring congestion problems.

For Anatoly Yakovenko, the founder of Solana, these breakdowns are a curse, but can be perceived as good news for this optimist.

“It’s been, I guess, our curse, but it’s because the network is so cheap and fast that there are enough users and apps to cause it”

-Anatoly Yakovenko – Co-founder and CEO of Solana

However, congestion is not the only concern. The longest outage, which occurred just over a year ago, paralyzed the network for nearly 18 hours. In question this time, an electrical failure which stopped the operation of the blockchain.

Solana network new outage danger for the Ethereum Killer

SOL crypto reacts after the outage

As soon as the announcement of the outage on the Solana network, the price of its crypto immediately reacted. During the 6 hours of interruption, the token lost 6.5% of its value.

SOL course Solana network failure
The SOL price recorded a drop of 6.5% during the new outage
Source : TradingView

Of course, this drop remains negligible for a cryptocurrency such as SOL. She maintains her place in the top 10 of the biggest current cryptos in terms of marketcap.

It not remain that recurring breakdowns increasingly irritate the community.

The latter reacted with sarcasm at the announcement on Solana’s Twitter account, some not being shocked, others on the contrary, showing their dissatisfaction.

A climate of distrust tends to settle around Solana although the performances continue to seduce the greatest number.

Recently, the project Helium, specializing in IoT (Internet of Things), has migrated to the Solana network. He is not the only one and all see itfinancial advantage due to low costs of transactions.

However, it remains to be seen whether Solana can maintain its attractiveness over the long term while managing the accumulating failures one by one.

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Solana network: new outage, danger for the “Ethereum Killer”?

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