2024

Solana

<p class="is-style-lead">Solana network is experiencing downtime in block production as block progression is currently halted.</p> 
<p>When writing, the blockchain has been down for about two hours. The failure occurred on Feb. 6 at 10:00 UTC.</p> 
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 <p>“Engineers from across the ecosystem are investigating an outage on mainnet-beta.”</p> <cite>Solana website</cite>
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<p>Laine, a blockchain software developer and <a href="https://crypto.news/tag/Solana/" target="_blank" rel="noreferrer noopener">Solana</a> validator, clarified that the failure occurred due to a “decreased performance” of the leading network.</p> 
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   <p lang="en" dir="ltr">Solana Mainnet-Beta is experiencing a performance degradatation, block progression is currently halted, core engineers &amp; validators are actively investigating.</p>— Laine ❤️ stakewiz.com (@laine_sa_) <a href="https://twitter.com/laine_sa_/status/1754809775743738338?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 6, 2024</a>
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<p>Laine later announced a network restart. Validators update software to v1.17.20. After reaching a share of 80%, the cluster will resume block production from slot 246,464,041 (the stop occurred at 246,464,003). At the time of writing, progress is 60%, “20% more to go.”</p> 
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   <p lang="en" dir="ltr">A cluster restart on v1.17.20 has begun, you can follow the progress here: <a href="https://t.co/2tIgKBUc6o" target="_blank">https://t.co/2tIgKBUc6o</a><br><br>Once 80% of stake has restarted the cluster will resume block production from slot 246464041</p>— Laine ❤️ stakewiz.com (@laine_sa_) <a href="https://twitter.com/laine_sa_/status/1754838729301041659?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 6, 2024</a>
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<p>The <a href="https://crypto.news/price/Solana/" target="_blank" rel="noreferrer noopener">SOL</a> token responded to the blockchain shutdown by falling from around $96 to below $94, reaching $93.62. According to <a href="https://crypto.news/tag/CoinMarketCap/">CoinMarketCap</a>, the asset fell by more than 4% in 24 hours. However, token trading volumes increased by 11% to $1.6 billion amid the decline. This indicator may be hinting at the fact that traders have begun liquidating positions or buying on the coin’s drawdown.</p> 
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 <img loading="lazy" decoding="async" width="1024" height="550" src="https://crypto.news/app/uploads/2024/02/Screenshot-2024-02-06-at-16.05.49-1024x550.png" alt="Solana stops processing transactions, SOL sinks by 4% - 23" class="wp-image-14245776">
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  Source: CoinMarketCap
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<p>In February 2023, Solana validators <a href="https://crypto.news/solana-network-faces-technical-glitch-after-forking-event/" target="_blank" rel="noreferrer noopener">restarted</a> the network twice due to an unknown error that caused economic activity to stop completely. The network stopped correctly processing user transactions on Feb. 25, and all functions except voting were disabled. One of the validators, Stakewiz, explained that the error occurred after most nodes switched to software version 1.14.16, which appeared last week.</p> 
<p> You might also like: <a href="https://crypto.news/solana-network-reports-100-uptime-with-only-1-outage-in-q2/"> Solana network reports 100% uptime with only 1 outage in Q2 </a> </p>

Solana stops processing transactions, SOL sinks by 4%

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