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Solana Network Back in Operation: What Happened on the Solana Network Today?

  • Solana is a low-latency blockchain that has experienced a surge in activity in recent months, and on Tuesday, it faced an outage of approximately five hours.
  • SOL, which fared worse than the previous 1% drop in the last 24 hours, was in a worse condition than the 1% drop benchmark for major cryptocurrencies.
  • The Solana Foundation, responsible for the network’s maintenance, stated that the release of a new version included a patch to address an issue that caused the cluster to halt.

After the interruption, the Solana blockchain is back in operation today: SOL token price dropped during the network outage!

Solana Network Resumes Operation After a Long Period

Solana-SOL

Solana, a low-latency blockchain that has experienced a surge in activity in recent months, faced an outage of approximately five hours on Tuesday. The SOL token of Solana dropped below $94 during the incident, while it was around $96 before the issue started.

SOL, which fared worse than the previous 1% drop in the last 24 hours, was in a worse condition than the 1% drop benchmark for major cryptocurrencies. According to blockchain data, transactions resumed around 15:00 UTC. According to the data, transactions had stopped around 09:52 UTC. The outage came almost a year after the Solana network was down for nearly two days in April 2023.

“Solana Mainnet-Beta is experiencing degraded performance; block progress is currently halted, core engineers and validators are actively investigating,” said Solana validator Laine. The core engineers stated that they had created and built a new version for validators to upgrade in a post on X. Validator mtromp mentioned in an X post that validators had begun creating snapshots using local ledger states to prepare for a restart – essentially, the most up-to-date data before the interruption.

Solana Foundation Shared Details about the New Version

The Solana Foundation, responsible for the network’s maintenance, stated that the release of a new version included a patch to address an issue that caused the cluster to halt. “Validator operators should prepare for the upgrade and restart of the network,” they said. Validators are entities that use computing power to maintain a blockchain and process transactions. Snapshots are complete copies of blockchain data at a specific point in time.

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Jocelyn Blake
Jocelyn Blakehttps://en.coinotag.com/
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.
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