The Solana (SOL/USD) blockchain network is currently back in its operations after suffering from an outage that lasted for over four hours.
According to the validators, the issue kicked off at around 1:00 P.M. ET on Wednesday, June 1.
Solana Blockchain Restart Due to Glitch
Per Bloomberg, the Solana network has been experiencing some outages in the previous months. It underwent several blackouts and interruptions.
Validator operators successfully completed a cluster restart of Mainnet Beta at 9:00 PM UTC, following a roughly 4 and a half hour outage after the network failed to reach consensus. Network operators an dapps will continue to restore client services over the next several hours.
— Solana Status (@SolanaStatus) June 1, 2022
At one point, there was an outage that took place in January, and it lasted for 18 hours. At the time, the traders grew worried about their portfolios that could be affected by the service issue. Anatoly Yakovenko, the co-founder of Solana, said that users should be aware of the potential restart once the bug is resolved. Solana validator Lane tweeted out that the issue has no connection to clock drift. This means that this factor is unrelated to the sudden stoppage of the network.
'Durable Nonce' Bug on Solana
In another story by Benzinga, the validators have found out that the bug has resulted in the halting of some blocks. Moreover, the glitch was discovered to be related to the "durable nonce" feature. The same report says that the Solana network became accessible after a restart. The issue was resolved at around 5:00 P.M. ET.
tldr:
— toly 🇺🇸 | compressed (@aeyakovenko) June 1, 2022
Durable nonce instruction caused part of the network to consider the block is invalid, no consensus could be formed. Network is restating with durable nonce feature disabled. Fix for durable nonces will be out asap. https://t.co/5gZnpCp36N
SOL Token Plunges in Recent Record
On Thursday, June 2, the SOL token under the Solana blockchain reportedly plunged to $38.67 or 4.8%. It was one of the most underperforming tokens during the period.
Back in November, it reached its highest value at $260.
Related Article : SOL Now Recognized as Top Ranking Blockchain for Active Developer Count
Solana in NFT and DeFi Platform
Over the previous years, Solana has become more popular with investors, especially those who invest in NFTs. According to CNBC's article, many traders have quickly jumped into it because of its faster and cheaper transaction than Ethereum.
For its transaction speed, it could operate 50,000 transactions every second on the network. Each transaction has an average cost of $0.00025.
Speaking of this, Ethereum could only do 13 transactions per second. Additionally, the transaction fees on the platform are way higher if we compare it to Solana.
To mitigate the financial risks, the investors have started to diversify their investments into other blockchains. Solana has been one of the most famous platforms for crypto traders since its successful run in 2021.
In June 2021, Andreessen Horowitz and Polychain Capital led a million-dollar sale for a private token. At the time, Solana locked in the deal at $314 million.
Amid the continuous rise in the SOL prices, the outages have disrupted the consistent flow in the system. Multiple outages have occurred.
The recent outage that took place in the network is the second interruption that happened this month. The first one surfaced last May 1. Fortunately, after a few hours, the network was restored, just like what happened in the latest glitch.
This article is owned by Tech Times
Written by Joseph Henry
