Solana Down: Solana engineers have released a new validator software release for validator operators to upgrade and restart of the Solana network after an outage for hours. All Solana-related activities including spot and derivatives trading, staking, and others have halted after Solana stopped processing blocks at 10:00 UTC on Tuesday.
Solana Release Patch For Network Restart
Solana Status in the latest post on February 6 revealed that a new validator software release, release version v1.17.20, is available for upgrade. This includes a patch to resolve the cluster issue that caused the network to halt. Engineers from across the ecosystem readied the software release. Validator operators are asked to prepare for an upgrade and restart of the network.
In an earlier post, Solana team said “Engineers from across the ecosystem are investigating an outage on mainnet-beta. The team updates the community in real time as more information becomes available.
As per Stakewiz data, Solana network start is underway as validators install the software release. Once 80% of the stake has restarted, the cluster will resume block production from slot 246464041. At the time of writing, the restart status is at 40%.
South Korea’s largest crypto exchange Upbit decided to temporarily suspend deposits and withdrawals for SOL, GMT, RAY, and ACS tokens due to the ongoing Solana network outage.
Read More: Solana Outage Casts Shadow On SOL, GMT, RAY, ACS Trading
Reason Behind Outages
Solana Mainnet Beta suffered a significant performance degradation again, similar to last year. Solana blockchain has suffered over a dozen outages in the last few years. The major reason pointed out by experts is the design of the system.
Solana handles all their consensus on-chain, which means all validator communications are on the chain just like a transaction. It causes transaction volume as well as TPS to rise massively.
Also Read: Solana Outage: Fix Released For Validator Operators To Restart Network
Solana Missed 100% Uptime
Solana network has missed its 100% uptime for a year by 20 days, as per data by Solana Status. The network suffered a major outage for 18 hours on February 25 due to cluster instability that happened after v1.14 upgrade causing block finalization to slow significantly.
SOL price fell 4% after the outage, with the price currently trading at $94. The 24-hour low and high are $93.28 and $98.54, respectively.
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