Connect with us

News

Solana Suffers the 7th Outage, Can the Outage Spell be Broken Soon?

mm

Published

on

VOC, Voice of Crypto, Solana, SOL

Key Highlights:

  • Solana suffers network outage for the 7th time.
  • Solana network crash processed a record-breaking number of transactions – 4 million transactions per second.
  • The Solana network crash knocks out validators.
  • The company will be charging a 0.01 SOL charge to complete invalid transactions.

There was an abnormal increase in transaction rates on the Solana network that caused the slowdown of the network.

From April 30 to May 1, the Solana network experienced an increased number of transactions that caused network downtime for 7 hours. The increased transactions caused congestion in the network that later knocked out congestions on the network for 7 hours.

Solana Down Again?

During the downtime, the network experienced a surge of 4 million transactions in a second, equal to 100 gigabits processed per second. 

In a tweet from Metaplex, the company confirms the report that bots on the app have caused increased traffic on the app, which has led to the failure of the network. The tweet mentioned that bots hoarded the Candy Machine, a Solana NFT project’s application that launched NFT collections.

Advertisement

The effect of bots’ invasion on the network goes far beyond causing traffic and knocking out validators. Since the bots’ invasion, the price of SOL {the native coin for Solana blockchain} has reduced by 7% to $84.

To salvage the situation, the company, through a tweet from Metaplex, mentioned that it would be implementing a $0.89 or 0.01 SOL charge to complete invalid transactions. The company firmly believes that invalid transactions are done by bots trying to mint from the network.

We must mention that the recent Outage in the Solana network is the 7th in 2022. The first occurred on January 6 for 8 – 18 hours, and the Outage was said to have caused 50,000 transactions per second. Later on January 21st and 22nd, the network experienced about 29 hours of downtime caused by congestion.

To Wrap It Up

The Solana network is the second network to get strained under high transaction volume. The Outage started at 8:00 pm {UTC} on Saturday and ended at 3:00 am on Sunday.

Advertisement

Newsletter

Trending