- Solana crashes again
- Friday and Saturday, and 22 January, respectively, it was impossible to conduct transactions on the platform
- The co-founder of the project explained this by a large number of duplicate transactions
- The crypto community is angry and demands an explanation from the administration
For the umpteenth time in the last six months, Solana has lost its customers’ credit of trust. The network once again failed to cope with the load. The co-founder of the project noted that the problems are dictated by the current market volatility.
On Friday, 21 of January, a uniform panic began on Twitter. Against the backdrop of a negative trend in the cryptocurrency market, many traders on Solana decided to liquidate capital.
As a result, the network suffered from high loads. Both large and small traders were unable to complete transactions. And this despite the fact that the protocol positions itself as an alternative, and recently a competitor to Ethereum.
On Saturday, 22 January, the problem remained unresolved. The co-founder of the project, Anatoly Yakovenko, said that the cause of the failure was a large number of duplicate transactions, including from bots.
As a result, the speed of processing transactions, as well as their verification, has increased significantly. Later on Saturday, the administration released update 1.8. to solve “the most pressing problems”.
The management also said that new improvements will be made in the next few months to prevent a similar crisis in the future. Some of the announced features are already being tested in Testnet.
The Solana outages affected the entire segment. The network is valued for its scalability, but when the load increases, it simply “stalls”. As a result, the crisis hit not only cryptocurrency traders, but also the NFT segment, as well as DeFi.
As of Monday, 24 January, the network is fully operational. The total downtime was 29 hours and 10 minutes. How much traders have lost during this time can only be guessed.
This is not Solana’s first downfall since the beginning of the year. Around 2 am on January 4, the network “went down”. Then a DDoS attack became a possible cause of the failure.