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Solana Comes To A Halt. Ethereum Killer Killing Itself?

  • Solana is experiencing intermittent instability on the mainnet beta.
  • The team stopped the network themselves raising questions about centralization
  • The last transaction block was added more than 3 hours ago.

Sometimes things are too good to be true. Unfortunately, Solana’s parabolic rally and opportunity to create the “flippening” has been short-lived. According to ongoing reports and community complaints on Twitter, the Solana network has not approved or signed any transaction on the blockchain.

Solana Comes to a Halt

At the time of writing, data from Solscan shows the last transaction was approved and added to the network more than 3 hours ago, suggesting the network outage is recent.

A Twitter announcement from Solana posted at 7:38 AM CST on September 14th noted that Solana is “experiencing intermittent instability,” and the network engineers are working to solve the issues. Moreover, the team followed up with a statement announcing the issue is caused by “resource exhaustion,” which ultimately leads to a denial of service.

Adjacent services that facilitate the Solana network have also experienced network issues. For example, Arbitrium announced via Twitter that the system was experiencing delays, while Phantom, a Solana wallet, tweeted that they and “other applications are having trouble connecting.”

Information from August 31st, from NFT project SolanaMees, indicated a similar network issue. RPC providers on Solana were facing intermittent issues as the network rejected PRC requests, which caused them to “go out of sync with the network.”

UPDATE: The SolanaStatus twitter account posted a status update on September 15, that was also retweeted by the official Solana twitter account, stating that “the Solana validator community successfully completed a restart of Mainnet Beta after an upgrade to 1.6.25.”.

On the Flipside

  • Solana was experiencing RPC request rejections long before Solana turned off its network

Anatoly Yakovenko, Solana’s CEO, tweeted to invite Solana validators on the discord server to help amend the issue. Interestingly, Yakovenko suggests the attack is something similar to Ethereum’s Shanghai attack when it experienced DOS.

Unlike Solana, the Ethereum network did not shut down the network themselves, raising questions about centralization concerns over the network.

This is a developing story and will be updated as more data and information becomes available.

Why You Should Care?

Network decentralization is not guaranteed by any company when the network is under attack.

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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    Social media fanatic and cryptocurrency enthusiast with a 10x mindset. working with ICO’s and upcoming blockchain project. Worked with ICO’s before the first cryptocurrency boom in 2017 and still HODL-ing. Creative content writer with a passion for electronic music, Instagram and cryptocurrencies