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Users complained about Solana's network shutdown for 48 hours

Users complained about Solana's network shutdown for 48 hours

Representatives of the cryptocurrency community reported on Twitter that the Solana network (SOL) has been inaccessible for 48 hours. Developers are working to resolve the problems.

Harper Collins investor and author Mark Jeffrey wrote about the project's sixth network outage in the past three months.

"Now I don't believe it [Solana]. This is the new EOS. ETH, BSC , Fantom , Avalanche and Terra are competing now," he added.

Another day, another 48 hour #Solana outage. This is like the sixth time this has happened in 3 months. I have zero faith in it now. It is the new EOS. The fight is now between ETH, BSC, Fantom, Avalanche and Terra. - Mark Jeffrey ⚡️�� (@markjeffrey) January 23, 2022

Daniel Chun confirmed the "downfall" of the Solana network for 48 hours and questioned the viability of the monolithic structure.

"The leading blockchain of the future will likely be with a modular architecture. Bull ETH 2.0 and the Cosmos ecosystem," the investor wrote.

Solana being down for 48 hours multiple times now makes me question the viability of a monolithic structure. It's clear the winning blockchain of the future will likely be one with a modular architecture. Bullish $ETH 2.0 �� Cosmos Ecosystem. - Daniel Cheung (@HighCoinviction) January 22, 2022

Zain Allarahia, founder and CTO of startup Pipe, said he's tried over 100 times to pay off Solend credit, but to no avail.

"Couldn't even send a friend some USDC for dinner using [cryptocurrency wallet] Phantom. Cases like this make you appreciate bitcoin's market commissions," he added.

Can we all admit @solana has been down now for about ~48 hours? Tried over 100 times to repay a Solend loan, failed. Couldn't even send a friend some USDC for dinner with @phantom. It's times like these that make you appreciate Bitcoin's fee markets. - Zain Allarakhia (@zallarak) January 22, 2022

Solana developers reported that the beta version of the main network experienced an overload. They cited program cache exhaustion as the reason for the performance degradation. Version 1.8.12 is aimed at solving the problem.

2/ 1.8.12 was specifically aimed at improving issues of program cache exhaustion, which are largely responsible for recent performance degradations. - Solana Status (@SolanaStatus) January 22, 2022

The team said they have made a lot of progress, but have not yet finished the work. To address the issue of duplicate transactions, they have released version 1.8.14 to mitigate the worst effects.

4/ The current issue experienced by validators is due to excessive duplicate transactions. Engineers have just released 1.8.14, which will attempt to mitigate the worst effects of this issue. - Solana Status (@SolanaStatus) January 22, 2022

In the next 8-12 weeks more network status improvements will be introduced, the developers have promised. According to them, some of these features have already been integrated into the test network.

6/ Release 1.8.14 is now available at https://t.co/lJyNPScnH7 - Solana Status (@SolanaStatus) January 22, 2022

The price of the cryptocurrency Solana fell to a five-month low of $88 on Saturday, January 22.

Chart of SOL/USDT of the Binance exchange. Data: TradingView.

At the time of writing, the asset is trading at $100. According to CoinGecko, the project has a capitalization of $31.5 billion.

On January 6, the developers of Solar reported a decrease in the performance of the beta version of the mainnet and warned users about possible errors in transaction processing.

The problem was explained by the increase in the number of "high-performance computing operations". According to the developers, because of this the network throughput fell "up to several thousands" of transactions per second;

On January 4, the Solana network was unavailable for about 5 hours. On December 9, 2021, users also complained about the failure.

On September 14, the Solana network experienced a shutdown of onchain activity. No new blocks were released for more than 16 hours, requiring a restart of the blockchain to resume operation. The developers cited a DDoS attack as the cause of the incident.

https://forklog.com/solana-blokchejn-dlya-defi-ili-ocherednoj-ubijtsa-ethereum/

Recall that in November 2021, Sam Bankman-Fried, head of the bitcoin exchange FTX, said that due to its scalability Solana may not only become the leading blockchain protocol, but also become the new Ethereum or bitcoin.

In January 2022, Bank of America analysts predicted Solana's status as Visa in the cryptocurrency world.

Experts at CoinGecko estimated that investments in Solana were the most profitable in 2021 among the top 30 coins.

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