Reliably unreliable: Solana price dives after latest network outage
The Solana network is not having a good year, having suffered full or partial outages at least seven separate times over the past 12 months.
A bug has knocked the Solana blockchain offline again as block production halted at 16:55 UTC on June 1. This latest outage lasted around four and a half hours as validator operators managed to restart the mainnet at around 21:00 UTC, according to the incident report.
Validator operators successfully completed a cluster restart of Mainnet Beta at 9:00 PM UTC, following a roughly 4 and a half hour outage after the network failed to reach consensus. Network operators an dapps will continue to restore client services over the next several hours.
Solana Labs co-founder Anatoly Yakovenko explained what happened in a tweet:
‘Durable transaction nonce’ refers to a mechanism addressing the typical short lifetime of a transaction block hash according to the official Solana documentation. A bug in the feature caused nodes to generate different outputs resulting in consensus failure, which ultimately caused the latest period of downtime.
The network was restarted with this feature disabled, and Yakovenko added that fixes for the bug “will be out ASAP.”
Naturally, there was a fair amount of backlash from the community with comments like this filling up its feed:
CNBC crypto trader and Onchain Capital CEO Ran Neuner simply quipped:
BREAKING: SOLANA.
SOL prices have taken a massive hit tanking almost 14% over the past 12 hours or so in a fall below $40, according to CoinGecko. The network native token has now slumped 85% from its November 2021 all-time high of $260, and it is poised to slip out of the top ten by market ca.
Solana, which has often been dubbed an “Ethereum killer,” has been fully or
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