On June 1, 2022, the Solana network halted block production again as the blockchain network has stopped working a number of times during the network’s lifetime. According to the Solana status update, validator operators are being asked to prepare for a restart.
Solana Continues to Be Plagued by Outages, SOL Downtimes Denounced by Crypto Community
The Solana (SOL) blockchain network is down again as the network was shut down by the development team. The Solana Status Twitter account (@solanastatus) tweeted about Wednesday’s incident at 12:56 p.m. (ET) and Solana’s status website also explains that block production has been halted.
“Block production on Solana Mainnet Beta has halted. Validator operators should prepare for a restart in mb-validators on Discord,” the status details.
The Solana (SOL) network has been plagued by a number of outages and it has been valued that the Proof-of-Stake (PoS) blockchain has decreased by a total of eight times. Bitcoin.com News reported on a number of Solana outages and the one that followed Solana co-founder Anatoly Yakovenko’s commentary.
Yakovenko claimed last month that “If [Bitcoin] eventually doesn’t switch to proof-of-stake nobody is going to use it.” After the statements, Solana’s blockchain lost consensus for over seven hours. Bitcoin.com News also reported on Solana’s mid-September outage and the debate that surfaced after the blockchain’s downtime.
Solana’s development team officially acknowledged some of the issues they were facing and how it was “degrading performance”. The team blamed “high compute transactions, which reduce network capacity to several thousand transactions per second.”
Of course, with Solana going down again, the comments on social media and crypto related forums have not been kind to the crypto project worth $14 billion. “Solana has now failed for the 8th time. The network is currently halted,” one individual tweeted. “Trading of the $14 billion asset is still possible on centralized exchanges, which seems to be the primary use case of a constantly failing network,” the person added.
Bitcoin defended Dennis Porter wrote“Solana just stopped. Bitcoin cannot be stopped. Invest accordingly. According to the Bitcoin Uptime Tracker, the Bitcoin network has been functional for 99.98742319836% of its lifetime.
“The diamond hands of Solana are amazing,” another person criticized on Wednesday afternoon. “0 NFTs have been listed in the last hour. You can’t say the same for any other chain except maybe Terra/LUNA,” the individual added.
Meanwhile, ethereal, XRPand gimbal the owners explained why they think their favorite tokens are much better than Solana. Amid the downtime and at the time of writing, solana (SOL) lost 9.9% in value against the US dollar. Coinbase too reported on Solana’s latest outage and noted that the exchange needs to disable sending and receiving on the network.
