Solana Network Halts Block Production, Here’s An Update On Restart
The Solana network halted block production yet again on Wednesday. This is the ninth such Solana halt that occurred on the blockchain network.
A Solana status update shared on Twitter stated that validator operators are being asked to prepare for a restart. The tweet on Solana halt said,
“Block production on Solana Mainnet Beta has halted. Validator operators should prepare for a restart in mb-validators on Discord.”
‘Prepare For A Restart’
In a subsequent update shared by the team, there were a set of instructions for mainnet beta validators. It said,
“Mainnet Beta Validators: Please follow the restart instructions linked below, and upgrade 1.9.x to 1.9.28 – If you are on 1.10.x please upgrade to 1.10.23”
Ninth Time Outage
There have been multiple outages in the Solana network in the past. In September last year, the network remained inactive for over 10 hours as the blockchain nodes went offline due to excessive memory use.
Earlier this year in January, Binance noted that the SOL network experienced congestion. This had resulted in reduced throughput of the network to several thousands of transactions per second. The outage affected withdrawals on the exchange via the Solana network and led to failed transactions.
Despite all the troubles in the recent past, the network had fared fairly well with respect to the NFT market. As per recent data from crypto analytics platform Messari, Solana’s NFT sales volume took a major jump. This resulted in it becoming the second-largest protocol by the end of the quarter, next to Ethereum at first place.
The network outage led to a steep fall in Solana’s price. As of writing, the coin is trading at $40.59, down 11.24% in the last 24 hours, according to CoinMarketCap. SOL’s current market cap stands at $13 billion and a ranking of 9.
Meanwhile, crypto analysts have been quick to question the network’s repeated outages. They even raised questions on the decentralised nature of the network. An analyst that goes by the name Nick on Twitter asked, “The Solana (SOL) network has been globally halted. How can we call this decentralized?”
- Aster Outpaces Lighter in Perp DEX Rankings as Wintermute Buys the Dip After Previous Dump
- Is This Final Bitcoin Price Correction Before US Shutdown Ends, Fed Rate Cuts?
- Blockchain for Good Alliance and UNDP AltFinLab Launch Blockchain Impact Forum
- ‘Trump Insider Whale’ Increases Bitcoin Short As U.S. Counters China in New Australia Deal
- Trump Advisor Hints US Government Shutdown Could End This Week, Opening Door for XRP ETF Ruling
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
- Bitcoin Price Prediction as Gaussian Channel Turns Green Amid U.S.–China Trade Progress and Fed Rate Cut Hopes
- Solana Price Prediction: Analyst Notes Bearish Breakdown Amid Derivatives Slowdown
- Shiba Inu Price Eyes Recovery as Burn Rate Jumps 10,785% – Can SHIB Hit $0.000016?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
