Solana’s Blockchain Offline for hours, value drops 12.5% ​​- BTC Direct

Solana’s share price is down 12.5% ​​today, after the network experienced downtime, after which the blockchain had to be rolled back and nodes had to restart their software.

Seventh outcome

Solana’s network has had a bad year, as it is the seventh time in the last 12 months that they have experienced a full or partial outcome. Last night at At 19.00, the production of new blocks on Solana’s blockchain was stopped due to an error. The interruption lasted about 4.5 hours before the mains could be restarted.

No more consensus

According to a tweet from one of Solana’s founders, Anatoly Yakovenko, the problem was due to a bug with blockchain’s durable nonce feature. Yakovenko tweeted that the problem “caused part of the network to consider the blockchain invalid” and as a result “a consensus could not be formed.”

Yakovenko is talking about a durable transaction ad, which is a mechanism that ensures the typical short life of a transaction block hash, according to the official Solana documentation. The error caused nodes to generate different outputs, making it impossible to reach consensus.

The whole idea of ​​a blockchain is that reliable agreement (consensus) can be reached in a decentralized way, and because Solana failed in this, it was decided to shut down the blockchain for a few hours.

The nodes worked together to restart the Solana network while the durable nonce feature was disabled, Yakovenko said the bug will be fixed in a future update.

Interruption bad for the Solana course

The market eventually responded to this. Not only through angry, anonymous internet messages, but also by dumping SOL. A month ago the value was almost 90 euros, but today traders give less than 37 euros for it.

Solana has lost 12.5 percent in the last 24 hours.

At the moment, Solana is still in an 8th place in terms of market value, but if there are some more disruptions, Dogecoin and Polkadot can easily overtake the coin.

At the beginning of this article we wrote that it is already the seventh time in 12 months that the network is down, all indications are that it will not be the last time. We will highlight three of these seven.

Other major outcomes

Last September, the network was down for nearly 18 hours after being overwhelmed by transactions sent to a DeFi protocol for a new token launch. Solana Labs described this as a “denial of service attack.”

The blockchain was plagued by problems in January, when it experienced service outages and reduced performance 9 out of 31 days a month. Duplicate transactions were held responsible for this error.

Recently, on April 30, the network crashed after NFT mining robots, automated programs designed to falsify an NFT project launch, flooded Solana at a rate of 6 million transactions per second. Metaplex, the creators of Solana’s NFT protocol, has introduced a tax on bots to try to avoid this problem in the future.

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