Block production on the Solana network stalled resulting in a shutdown of the network. The outage occurred on April 30, as posted as an update by Solana Status on Twitter. The Solana network monitoring platform stated that validators are advised to prepare for the protocol for restarting the system. According to the update, the coordination of the block production reactivation is underway on the platform’s Discord channel.
High Inbound Transactions
Another update by the monitoring platform announced that the platform lost consensus due to a large number of inbound transactions of up to 4 million per second which the network was unable to handle because it surpassed its 100 gbps capacity. It said that the platform’s engineers could not figure why the network couldn’t recover from the deluge of transactions. The operators then resolved to announce that the validators prepare to restart the network.
Yeah cuz everyone is panic selling
— Danny Hei (@DannyHei87) May 1, 2022
Panicked Users
Users are concerned about the impact of the outage will have on their transactions as they await the impact of the crash. A user Danny Hei said that the blackout is not surprising, considering that “everyone is panic selling”.
Sharing their experience, a user, Jeanelyn Layugan @XJhen24, said that they thought that they had lost their funds, oblivious to the situation, they continued refreshing the transaction page until they were prompted to key in their recovery phrase, when they did, “it still didn’t work”.
At the time of reporting, SOL was trading at $89.58, down by 4.90% in 24 hours. It has a trading volume of $1,677,429,214 (18,725,861 SOL) according to data from Coinmarketcap.
Is Solana Centralized
Theonlymarley, a Twitter user who described himself as a Cardano cartel member took exception to the update from the Solana team. In a response to the planned restart of block production, they wrote:
“Solana is not a real crypto sorry but if u can restart your centralized system whenever u want then why don’t we just use our banking system as before we want to leave the financial legacy system not build a new one and brand it nicely as a “blockchain” company…”
Validator operators successfully completed a cluster restart of Mainnet Beta at 3:00 AM UTC, following a roughly 7 hour outage after the network failed to reach consensus.
Network operators an dapps will continue to restore client services over the next several hours. https://t.co/ezqEYQYKWl
— Solana Status (@SolanaStatus) May 1, 2022
The network was restarted after the outage which spanned 7 hours. The latest update showed that the Mainnet Beta restart took place at 3.00 am UTC.
