Solana price dives after latest network outage

The Solana community just isn’t having a great yr, having suffered full or partial outages at the very least seven separate instances over the previous 12 months.

A bug has knocked the Solana blockchain offline once more as block manufacturing halted at 16:55 UTC on June 1. This newest outage lasted round 4 and a half hours as validator operators managed to restart the mainnet at round 21:00 UTC, in accordance with the incident report.

Solana Labs co-founder Anatoly Yakovenko defined what occurred in a tweet:

“Sturdy nonce instruction triggered a part of the community to contemplate the block is invalid, no consensus could possibly be shaped.”

‘Sturdy transaction nonce’ refers to a mechanism addressing the everyday quick lifetime of a transaction block hash in accordance with the official Solana documentation. A bug within the characteristic triggered nodes to generate completely different outputs leading to consensus failure, which in the end triggered the newest interval of downtime.

The community was restarted with this characteristic disabled, and Yakovenko added that fixes for the bug “might be out ASAP.”

Naturally, there was a good quantity of backlash from the neighborhood with comments like this filling up its feed:

“Get it collectively Solana. We needs to be previous this already. I’m large believer however I’m even doubting at this level.”

CNBC crypto dealer and Onchain Capital CEO Ran Neuner merely quipped:

SOL prices have taken an enormous hit tanking virtually 14% over the previous 12 hours or so in a fall beneath $40, in accordance with CoinGecko. The community native token has now slumped 85% from its November 2021 all-time excessive of $260, and it’s poised to slide out of the highest ten by market ca.

SOL/USD 24hr – coingecko.com

Solana, which has typically been dubbed an “Ethereum killer,” has been absolutely or partially offline at the very least seven instances since September 2021, when it suffered denial of service attack-related outages twice in the identical month, in accordance with the community uptime tracker.

The blockchain was plagued with issues in January when it suffered service disruptions and degraded efficiency for 9 days out of the 31 within the month. Duplicate transactions have been blamed for the second outage in January. In late April and early Might, Solana was down once more for nearly 8 hours on account of NFT minting bots overwhelming the community.

Associated: Solana suffers 7 hour outage as bots invade the network

Moreover, Solana’s blockchain clock is gradual and working half-hour behind real-world time. The standing web page notes “On-chain time continues to run behind that of wall clocks, on account of longer-than-normal block instances.”

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