Solana Network Faces Major Outage, Block Production Halted

by Feb 6, 2024CryptoNews0 comments

Solana, a blockchain network, experienced a significant outage on February 6 at 10:22 UTC. Engineers from various parts of the ecosystem are currently investigating the issue on the mainnet beta. The block production on the Solana mainnet has come to a halt, leading to a downtime in block progression. Core engineers and validators are actively working to resolve the problem. Social media users noticed that the Solana blockchain had not produced a block for over 25 minutes, which is significantly longer than its usual block production time of 400 milliseconds. Solana validators have started generating snapshots of the network’s state to prepare for a restart, while developers are working on a fix.

Validators are in the process of producing snapshots for a specific slot and ensuring consistency in the bank hash at that slot. They plan to restart the Mainnet-Beta cluster using version 1.17.20, with the jito-solana release also available. While awaiting final confirmation from core engineers, validators are ensuring that there are no inconsistencies in the network’s state. Snapshots serve as a representation of the global Solana state at a particular point in time and are utilized to prevent transaction rollbacks.

The Solana network outage is already impacting cryptocurrency exchanges, including Upbit, which has announced the suspension of deposits and withdrawals for Solana-based tokens such as SOL, GMT, RAY, and ACS. This is not the first time the Solana blockchain has faced network outages or block production downtime; it has experienced multiple issues since its launch, and this recent outage marks the eleventh occurrence in two years. Despite its growth and popularity due to scalability and lower fees compared to Ethereum, the network has faced ongoing challenges that require periodic restarts.

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In summary, the Solana network recently experienced a major outage, leading to a halt in block production. Validators and engineers are actively working to identify and resolve the underlying problem. The network outage has had repercussions on cryptocurrency exchanges, with Upbit suspending transactions involving Solana-based tokens. Although Solana offers scalability and lower fees, it has faced recurring network issues that necessitate occasional restarts.

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