December 6, 2022

Solana Network Suffers Yet Another Network Outage: DeFi Users Pay the Price

3 min read

While the crypto market was bleeding greatly on Friday, Solana experienced another network misstep that caused panic amongst traders and DeFi users throughout the crypto neighborhood.

48-hour Solana Network Outage

The Solana network has suffered numerous issues within the last few months, and this existing occurrence is the second in January. But unlike other events, the current failure lasted about 48 hours.

The Solana team stated they initially noticed the misstep on Friday, January 21 2022, at about 00:00 UTC.

“The mainnet-beta cluster is experiencing some performance degradation, we are currently examining the problem,” the team composed.

The examination lasted more than 24 hours before the team was able to recognize the cause on Saturday at 17:55 UTC.

According to the short report on the Solana Status page, the problem was brought on by “extreme duplicate transactions” done by bots.

The problem was solved today (Sunday), at about 16:19 UTC after the release and adoption of v1.8.14, which was created to “mitigate the worst effects of the problem.”

“These upcoming releases are focused on improving the state of the network, with more enhancements anticipated to present in the next 8-12 weeks. A number of these functions are presently live on Testnet, where they are being carefully checked,” the team included.

Throwing Taunts and Jeers

The current Solana network issue offered designers and non-Solana supporters another chance to jeer the expected Ethereum killer.

HarperCollins’ author Mark Jeffery believes that Solana is already out of the winning blockchain of the future due to relentless network failures.