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Solana Comes To A Halt. Ethereum Killer Killing Itself?

CryptocurrencySep 14, 2021 11:30AM ET
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Solana Comes To A Halt. Ethereum Killer Killing Itself?

  • Solana is experiencing intermittent instability on the mainnet beta.
  • The team stopped the network themselves raising questions about centralization
  • The last transaction block was added more than 3 hours ago.

Sometimes things are too good to be true. Unfortunately, Solana’s parabolic rally and opportunity to create the “flippening” has been short-lived. According to ongoing reports and community complaints on Twitter (NYSE:TWTR), the Solana network has not approved or signed any transaction on the blockchain.

Solana Comes To A Halt

At the time of writing, data from Solscan shows the last transaction was approved and added to the network more than 3 hours ago, suggesting the network outage is recent.

A Twitter announcement from Solana posted at 7:38 AM CST on September 14th noted that Solana is “experiencing intermittent instability,” and the network engineers are working to solve the issues. Moreover, the team followed up with a statement announcing the issue is caused by “resource exhaustion,” which ultimately leads to a denial of service.

Adjacent services that facilitate the Solana network have also experienced network issues. For example, Arbitrium announced via Twitter that the system was experiencing delays, while Phantom, a Solana wallet, tweeted that they and “other applications are having trouble connecting.”

Information from August 31st, from NFT project SolanaMees, indicated a similar network issue. RPC (NYSE:RES) providers on Solana were facing intermittent issues as the network rejected PRC requests, which caused them to “go out of sync with the network.”

On The Flipside

  • Solana has been experiencing RPC requests rejections long before Solana turned off its network.

Anatoly Yakovenko, Solana’s CEO, tweeted to invite Solana validators on the discord server to help amend the issue. Interestingly, Yakovenko suggests the attack is something similar to Ethereum’s Shanghai attack when it experiences DOS.

Unlike Solana, the Ethereum network did not shut down the network themselves, raising questions about centralization concerns over the network.

This is a developing story and will be updated as more data and information becomes available.

Why You Should Care?

Network decentralization is not guaranteed by any company when the network is under attack.


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Solana Comes To A Halt. Ethereum Killer Killing Itself?

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