Solana, the fast-rising cryptocurrency blockchain, experienced a “major outage” on Tuesday, as per the network’s system status page.
Laine, a Solana validator, stated in an X post that “Solana Mainnet-Beta is experiencing a performance degradation, block progression is currently halted, core engineers & validators are actively investigating.”
Network validator @mtromp stated in an X post that core engineers have found a solution and are creating a new version for validators to upgrade.
In a follow-up, Laine stated that to get ready for a restart, validators have started creating snapshots using their local ledger state, or the most recent data before the outage.
The Solana Foundation, which manages the network, said in a status statement that the updated validator software release has a patch to fix a problem that led to the cluster’s failure. “Validator operators should prepare for an upgrade and restart of the network,” it said.
Validators are organizations that process transactions and keep a blockchain up-to-date by using computational power. A snapshot is a precise replica of blockchain data taken at a specific moment in time.
According to statistics from Solana blockchain monitoring, blocks appear to have been processed most recently at 09:52 UTC. As of this writing, the news caused Solana’s SOL tokens to drop more than 3.80%, to $94 per token.
The stoppage occurred over a year after the Solana network went down in April 2023 for about two days.
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