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Thursday, October 6, 2022

Solana Price Dips Again Post 4-Hour Halt In Blockchain

Sol has recently experienced an outage for the fifth time in this year 2022 itself. The primary reason for the outage is believed to be a bug-related issue. The network of Solana is not witnessing the greatest time mainly because of the reason that they suffered partial or complete outages on seven separate occasions in the course of the last 12 months. 

Sol blockchain was knocked offline by a bug that resulted in a stop in block production at around 4 PM this Wednesday. The recent outage had occurred for more than four hours. The validator operators tried to restart the mainnet at almost 21:00 UTC, as reported. 

Outages Continue At Solana 

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Anatoly Yakovenko is the co-founder of Solana Labs. He took to his Twitter account to explain recent occurrences. He stated that nonce instruction created the outage that halted their blockchain. 

Transaction nonce of durable manner means that the mechanism pointing towards the conventional short lifetime of every block hash of the transaction. A specific bug in this mechanism created different outputs in the nodes. This led to a consensus failure resulting in downtime. 

Yakovenko further added that the bug problem will soon be resolved and Solana will restart. 

Solana Facing Complains 

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Consecutive outages brought several complaints against the Solana network. Some tweets suggested they must get their act together since they are long-term consumers. Ran Neuner, Onchain Capital, and CNBC crypto trader tweeted that Solana is breaking. 

The prices of SOL have also dipped considerably by 14% within the last 12 hours. It now stands under $40, as reported by CoinGecko. The native token of the network also decreased by 85% since November 2021 when it was at a $260 high of all time. It is also at the risk of losing its top 10 cryptocurrencies according to market capitalization.

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