Solana (SOL) is back on track after a large-scale network failure

Wed 15 Sep 2021 ▪ 12h17 ▪ 3 min read — by Felix Meyer

Solana, a blockchain network that recently broke into the top 10 cryptocurrencies according to CoinMarketCap, was down for several hours flooded with spam transactions on 14th September. As a result, the on-chain activity was suspended.

Thanks to the validators, now the beta version of the main SOL network has been successfully restarted. However, new blocks weren’t mined for sixteen hours straight, which was quite detrimental to the price of the asset.

The Great Flood

Shortly after the problem was detected, the official Solana Foundation account, SolanaStatus, made an announcement on Twitter, briefly outlining the current situation.

Solana mainnet-beta is experiencing intermittent instability. This began approximately 45 minutes ago, and engineers are investigating the issue.”

Solana Mainnet Beta transaction load reached a peak of 400,000 TPS, which flooded the transaction processing queue. Network-critical messages weren’t prioritised, prompting the network to start forking.

The forking “led to excessive memory consumption, causing some nodes to go offline. Engineers across the ecosystem attempted to stabilize the network, but were unsuccessful.”

Larry Cermak, analyst at The Block, suggested the reason for the abnormal transaction load was the growing interest in the IDO, initial decentralised exchange (DEX) offering, scheduled for 12:00 UTM. 

Happy revival

As the validators agreed, in order to restore Solana’s full functionality, it is necessary to release an update and restart the beta version of the main network.

The restart is currently successfully completed. The developers, however, still ask users to wait a few hours until the network and Dapps, block explorers and supporting systems are fully restored.

After having been down for hours, Solana made it quick and managed to successfully restore the network. The yesterday’s failure was triggered by the transaction overload, which was allegedly the result of a highly anticipated IDO. Now the upgrade is released, the network is restarted, with validators becoming the heroes of the day.

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Felix Meyer

Le trading et l'analyse technique sont mes spécialités depuis 4 ans. Je décortique le marché et vous partage mon expertise.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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