Solana to Investigate Root Cause of Network Outage

Solana outages have been quite prevalent since 2020 and into 2022. To address faults, the network would occasionally be paused. On June 1, for example, the mainnet was hit by nondeterminism, preventing the network from progressing further.

However, the Solana blockchain underwent a network outage in 2023 over the weekend. The Solana network underwent a technical issue that slowed down the network on Feb. 25. The official Twitter account addressed the issue that happened during the upgrade from 1.13 to 1.14. The team also stated that a coordinated restart is underway.

Also read: Solana SOL Price Prediction for March 2023

According to the latest update from the SOL team, the engineers are investigating the primary cause of the outage.

Solana engineers to diagnose the root cause

The engineers are reportedly looking into the root cause of yesterday’s outage, which was resolved at 9:00 p.m. EST. The initial issues were a gradual slowdown of the network that inevitably transpired into a complete shutdown of the network.

Also read: Top 3 Cryptocurrencies to Watch This Week: VET, ETH, LINK

The initial investigation pointed at different issues, including a “fat block” theory that gunked up the mechanics of the Solana blockchain. However, the team is doing a deep dive to find out the root cause.

The outage, however, hasn’t affected the price of SOL. At press time, SOL is trading at $22.85, representing a 1.73% gain in value over the last 24 hours.

  • SOL
  • Solana

Comments

Post a Comment

Popular posts from this blog

Crypto market ‘dramatically underestimates’ bullishness of spot Bitcoin ETFs

Image
“It’s reckless not to aggressively accumulate BTC at current levels,” K33 senior analyst Velte Lund said in a recent report. The potential of a spot Bitcoin (BTC) exchange-traded fund (ETF) approval to drive prices up is dramatically underestimated by the crypto market , claim analysts from crypto research firm K33 — formerly Arcane Research.  In a Sept. 5 market report, K33 senior analyst Vetle Lunde and vice president Anders Helseth said the last three months had greatly improved the chances of a spot Bitcoin ETF approval despite the sentiment not being reflected in the price of Bitcoin or other mainstay crypto assets. The analysts explained while Bitcoin had all but given up its gains in the wake of Grayscale’s legal victory over the Securities and Exchange Commission — an approval would “attract enormous inflows” and significantly increase buying pressure for Bitcoin. Bitcoin returned its gains in the wake of Grayscale's victory. Source: K33 Research However, the downside of ...
Read more

Crypto Bias Blocks People from Seeing Coinbase as Goldman 2.0: Bitwise CEO

In a recent tweet, Hunter Horsley, CEO of Bitwise Asset Management, shared his frustration with the poor attention given to the US-based crypto, Coinbase, claiming that people are “sleeping” on the crypto business. Horsley argued that while big banks like Goldman Sachs attempt to avoid a “slow death” by investing in technology, APIs, and retail services, Coinbase has already achieved what many banks strive to attain. He points out that the exchange has an exceptional institutional team with 25% of the most significant hedge funds as clients, over 50% institutional volume, and a suite of first-class tech products. The Bitwise CEO also claimed that Coinbase co-invented the USDC payment rail, facilitating $2 trillion in transfers in 2022 Q4 alone. Rant — People are sleeping on Coinbase. Big banks like GS are working to avoid slow death by getting into technology, APIs (Apple deal), more retail services (Marcus), while grappling with the heft of legacy biz, rate exposure, ...
Read more

Komodo (KMD) Price Prediction 2023-2030: Will KMD Price Hit $ 0.7 Soon?

Image
Bullish Komodo (KMD) price prediction ranges from $0.4 to $0.7 Analysis suggests that the KMD price might reach above $0.68. The KMD bearish market price prediction for 2023 is $0.1775. What is Komodo (KMD)? Komodo is an open-source technology provider that provides the infrastructure and tools for the new decentralized financial system. With Komodo, anyone has the capability of launching a branded decentralized exchange, cross-protocol financial applications, and independent blockchains.   The project’s flagship end-user application is Komodo Wallet (formerly AtomicDEX). It is a non-custodial multi-coin wallet, crypto bridge, and DEX rolled into one app. Being compatible with 99% of cryptocurrencies, Komodo Wallet offers the widest cross-chain, cross-protocol trading support of any decentralized exchange. Komodo Wallet’s DEX feature is built using a peer-to-peer (P2P) atomic swap protocol with decentralized order books. Developers use ...
Read more