On 1 October, at 6:15 IST, Solana Status, a Twitter handle reportedly run by the Solana Foundation, posted a tweet about Solana’s fourth major outage since January. The tweet stated that the network was experiencing an outage and wasn’t processing transactions. Furthermore, developers across the ecosystem tried their best to restart the network.
‘Ethereum Killer’ Solana Suffers Another Major Outage
An hour later, at 7:07 IST, Solana Status shared a link to a document via its tweet. The document “Solana Mainnet-Beta Cluster Restart 1” was for mainnet beta validators. The tweet further asked these validators to follow the cluster restart instructions.
Validator operators successfully completed a cluster restart of Mainnet Beta at 7 AM UTC.
Network operators an dapps will continue to restore client services over the next several hours.
The effort on Solana’s end to fix the issue was met with some resistance. Most validators could not follow the restart instructions due to network issues. For instance, P2 Moo, a game developer, took to Twitter to point out that the network outage was still up and running.
1/ Most validators are unable to advance beyond slot 153139220.
Additionally, software and blockchain company Stakewiz.com also commented on the issue. “A misconfigured node caused an unrecoverable partition in the network,” as per the blockchain company.
Following the developments mentioned above, SOL remained with the bears at the time of writing. It declined by 3.3% in the last 24 hours.
The Ethereum-killer’s price stood at $32.89 during press time. The Relative Strength Index (RSI) rested at the neutral 50 lines. Traders were seen having difficulty getting clarity of the SOL’s market movement.
The Moving Average Convergence Divergence (MACD) line and the signal line were running together and attempted to make a move above the zero line. Simply put, the indicator gave mixed signals to traders at the time of press.
On the other hand, the reading of Awesome Oscillator (AO) showed that the market was in flux. And, at the time of writing, sellers had the upper hand.
Well, this wasn’t the first time Solana faced an issue. In August 2022, many Solana owners reported that their funds were gradually vanishing. Later, it was found that a hacker was draining millions from online wallets.
Furthermore, despite an attempted fix from the blockchain’s end, Solana users didn’t seem quite impressed. Some users took to Twitter to share their grievances, while others trolled the blockchain for “yet another feather in SOL’s cap.”
Can Solana fix the issue at hand? Can it prevent SOL from falling into further losses? When will Solana come up with a constructive solution? All these questions can only be answered after Solana’s next update. As of this writing, Solana’s official team was yet to respond on the given matter.
While Solana execs have quibbled in the past with varying tallies in crypto media of the total number of outages, founder Anatoly Yakovenko told Real Vision earlier this month that outages have been “our curse” and pointed out that the Bitcoin blockchain has at times in its history had hours between two blocks.
Solana Founder Anatoly Yakovenko Talks Saga Phone, Helium, and ETH Merge at Mainnet 2022 Solana founder Anatoly Yakovenko joined Decrypt’s Dan Roberts and Andrew Hayward in our Decrypting Mainnet series at Mainnet 2022 and talked up Helium’s move to Solana, the Solana Saga Android phone, and even gave his take on the Ethereum merge.
One of a slew of smart-contract blockchains hyped as “Ethereum killers,” Solana is a popular blockchain for minting non-fungible tokens, NFTs, and decentralized applications. After Ethereum transitioned to proof of stake on September 15, Solana is now the third proof-of-stake blockchain by market cap behind Ethereum and Cardano. But if it continues to grow and rival Ethereum, the network will need to stay up.