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Not Again: Solana (SOL) Down 4% as It Suffers Another Outage

2 mins
Updated by Ryan Boltman
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In Brief

  • Solana suffered its eight outage during the early hours of October 1.
  • The network’s token has shed over 4% of its value in the last 24 hours.
  • Crypto community members question the decentralization of Solana.
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Solana network is back online after experiencing another outage that had it offline for six hours during the early hours of October 1.

Solana Status revealed that the network was not processing transactions, adding that “developers across the ecosystem are working on diagnosing the issue and restart the network.”

This marks the eighth time that the network has gone down since its launch. 

What led to the outage

A Solana validator stated that the recent downtime was caused by a misconfigured node that caused an unrecoverable network partition.

A Twitter thread from the same validator explained that the downtime appeared to have been caused by a validator that propagated an invalid block.

According to the thread, the offending validator was running a duplicate instance, and both produced a block. The block production led to a fork that created an “obscure code path where validators were unable to switch back to the heaviest (main) fork.” Simply put, Solana validators were stuck on the wrong fork.

The problem was mitigated after 80% of Solana validators restarted the network.

Community lambasts Solana

The crypto community has lambasted Solana for recording another outage this year.

Members of the community compared Solana’s frailty to other networks, implying that SOL’s downtime has become a monthly affair.

A user also questioned the essence of Solana’s high Nakamoto coefficient if only one node can cause the network to go offline.

Justin Bons, a crypto researcher and founder of Cyber Capital, said no blockchain should have this much downtime; it is just evidence of Solana’s bad design.

Bons said:

“The reality is that SOL is not innovative at all! It is just the first major blockchain to be so reckless in their fundamental design. While pretending as if that is innovative (to attract investors)”

He added that Solana has a pattern of bad behavior, including lying about circulating supply, inflating usage, false representations of its TPS, etc. 

In his view, Instead of focusing on solving scaling through sharding and Layer-2 solutions, Solana has been using hardware as a solution to its problem. He also criticized the Sol phone, which he described as not what cryptocurrency needs or wants at this moment.

SOL community defends the network

Solana community members are claiming that the network downtime is caused by the volume of activity on the network. A recent Delphi Digital data revealed that Solana’s share of NFT trading volume has increased by 3x over the past 6 weeks.

Another community member pointed out that the network will be fine for as long as the developers continue to improve the chain.

SOL price down

As of press time, SOL is down 4.2% in the last 24 hours and trades at $33.06, according to data from Coingecko.

On the seven-day metrics, the digital asset has shed roughly 2% of its value.

Source: TradingView

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Oluwapelumi Adejumo
Oluwapelumi believes Bitcoin and blockchain technology have the potential to change the world for the better. He is an avid reader and began writing about crypto in 2020.