According to social media sources, crypto forums, on-chain data, and the Solana Status Twitter account, Solana’s blockchain has paused. Solana mainnet-beta was down for four hours and is currently down due to a technical issue.
Solana (SOL) recently entered the top ten crypto assets by market capitalization, and it now has the seventh-largest market cap. At the time of writing, SOL was trading at $159 per unit, a 2.8 percent decrease over the previous week.
The protocol experienced an error on September 14, and at the time of writing, the chain had been down for a total of four hours, with the outage still ongoing. Lido Finance, a Twitter account, tweeted on Tuesday:
A tx overload has caused an OOM error in most Solana nodes, including validation nodes. The network is stalled, engineers in the team and the node operator community are working towards a resolution. Validators are preparing for a potential restart if necessary.
Lido Finance also directed its Twitter followers to the ‘Solana Status’ account for more details. In a pinned Tweet, the Solana Status account stated, “Solana mainnet-beta is experiencing periodic instability.” “This started about 45 minutes ago, and engineers are looking into it.”
According to estimates, Solana Block production could take some time.
Some have speculated that the repair could take anywhere from 24 to 48 hours to complete. “With transactions being filtered out and commits failing, validators must upgrade and deploy… “It will take roughly 24-48 hours to fix,” the ‘bruce.codes’ Twitter account revealed.
‘bruce.codes’ stated in another tweet that a “Solana fix [is] being released in v1.6.23.” The Solana Status Twitter account also commented on the initial outage tweet, saying: “Resource fatigue in the network is causing a denial of service, engineers are working on a resolution.” Validators are preparing for a possible restart if one is required.
Solana has now joined the list of networks that have stalled due to a lack of block production. For example, in February 2020, the IOTA blockchain was unavailable for more than 11 days. The EOS blockchain has also faced challenges with block production. Cardano has previously experienced block production challenges, and Solana experienced block production issues in December 2020.
Furthermore, while Solana has managed to knock XRP down a notch in recent weeks, XRP has regained the sixth-largest market capitalization in the globe. At the time of writing, XRP is slightly more than $3 billion higher than Solana’s (SOL) entire capitalization.
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