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What exactly is going on with Solana? – Everything to know

TL;DR

  • The Solana blockchain suffered a major outage on Feb. 25, lasting over 20 hours, caused by performance degradation.
  • The blockchain has suffered a dozen outages in the last two years, with its on-chain consensus design causing performance issues.
  • The Solana Foundation has released a report on the issue and is actively investigating the root cause.

The Solana blockchain is once again in the spotlight following a significant outage that lasted over 20 hours on Feb. 25. The blockchain has suffered a dozen outages in the last two years, and experts point to the design of the system as the main reason behind its performance issues.

Solana Foundation’s report

On Feb. 27, Solana Status announced the Mainnet Beta Outage Report. The report provides details on the reasons behind the outage on Feb. 25, which caused a significant performance degradation at 05:46:16 UTC.

The root cause of the outage is still unknown, but the team is actively investigating to find the exact reason. The report will be updated periodically as new details become available

During the outage, validators entered vote-only mode, and the validator community agreed with engineers to downgrade to the previous stable release, v1.13.6.

This was decided during the second restart attempt after the initial restart attempt was called off to collect more data on the outage.

Experts have pointed out that Solana’s on-chain consensus design, which means all validator communications are on the chain, causes transaction volume and TPS to rise massively.

As a result, the Solana blockchain suffers outages as more activity impacts the system’s performance.

Crypto community reacts

As the Solana network suffered another setback, members of the crypto community took to social media to express their concerns. Some even compared the blockchain to other projects like Ethereum and Bitcoin.

Non-fungible token (NFT) artist Crypto Tea raised a question on how the Solana blockchain made it to the top 10 list while having such performance issues.

In response, Solana Mobile developer Andrew Watson pointed out that they chose “security over liveness” and that they are “in it for the long haul.”

Others raised concerns about putting decentralized finance protocols at risk of insolvency. However, some community members pointed out that the company’s approach is riskier, but it also paves the way for faster innovation.

On Feb. 27, the Solana Foundation published a new update about the issue. The blockchain’s Mainnet Beta was successfully restarted on Feb. 26, and “no confirmed user transactions were rolled back or impacted.”

However, the team highlighted that the root cause of the problem remains unknown and is still under investigation.

The Solana blockchain’s latest outage has caused immense angst in the community, with some even questioning the blockchain’s rank as a top cryptocurrency.

Nevertheless, the Foundation is actively investigating the issue and providing regular updates to the community. While performance issues continue to plague the Solana blockchain, the team remains committed to long-term growth and innovation.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Jai Hamid

Jai Hamid is a passionate writer with a keen interest in blockchain technology, the global economy, and literature. She dedicates most of her time to exploring the transformative potential of crypto and the dynamics of worldwide economic trends.

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