The price of SOL remains above USD $85 despite the fact that Solana’s main grid suffered a prolonged outage over the weekend.
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Over the weekend, the blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. Solana experienced significant congestion that disrupted normal network a network refers to all nodes in the operation of a blockchain at any given moment in time. operations for 7 hours.
The incident took place between Saturday night and Sunday night after the bots automated software that can carry out tasks such as cryptocurrency trades. flood the net to exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. tokens non-expendable (NFT). According to CoinDesk the bots They turned to a popular application used by NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. projects from Solana to launch collections calledCandy Machinegenerating unprecedented traffic.
A record four million transactions, or 100 gigabits of data per second, was what congested the network, reported the Twitter account an account is essentially a whose purpose is to track the financial activities of a specific asset/ Solana Status . The massive flow of data caused proof-of-stake poS is a type of consensus algorithm that rewards validators according to the amount of crypto they have staked. (PoS) chain validators were kicked out of the consensus, which completely halted block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. production.
As he points out CoinDesk It is unclear why the incident kicked validators off the network. The outage lasted for about 7 hours, from 8:00 pm. UTC on Saturday until 3:00 am. UTC on Sunday, when validators were able to successfully restart the main network and resume operations, as reported by Cointelegraph .
Last blackout did not affect prices too much
Metaplex , the key administrator of the NFT infrastructure at Solana and closely related to Candy Machine confirmed in a tweet on Saturday night that the traffic of the bots in its implementation was partially to blame for the network outage.
In response, the company announced the implementation of a ” penalty ” para los bots de 0,01 SOL, una medida que busca ayudar a los proyectos NFT a detener el tráfico excesivo. La penalización se cobrará “ when a wallet a place where cryptocurrency users can store, send and receive digital assets. attempts to complete an invalid transaction, which is usually done by bots trying to blindly mint “, dijo Metaplex .
The outage was followed by a brief plunge in the price of the native cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. SOL, which fell from a range near USD $100 to a 24-hour low of USD $83 at around 11:00 p.m UTC. However, the disruption failed to keep prices down, as a few hours after the restart, SOL climbed back above $90.
As of press time, the cryptocurrency of Solana is trading at USD $87.6, down 1.36% daily and a little over 10% in the last 7 days, according to data from CoinMarketCap .
Solana accumulates more than 70 hours of outages
This is not the first disruption to the network. Solana . According to data provided by Solana Status The main network has suffered several similar incidents in recent months.
In September 2021, the blockchain experienced a 17-hour outage. At that time, the problem was attributed to a Distributed Denial of Service (DDoS) attack in an Initial Decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. Exchange Offering (DEX) due to bots spamming the network at a speed of 400,000 transactions per second.
Then, between January 6 and January 12 of this year, the network was plagued with problems that caused outages ranging from 1 hour to 19 hours at a time. During that period, Solana accumulated about 56 hours of downtime due to “ high computing transactions “which caused a reduction in the capacity of the network to “ several thousand “The number of transactions per second (TPS), far less than the 50,000 TPS promised by the project.
Unos días después, entre el 21 y 22 de enero, la plataforma volvió a sufrir un apagón que la dejó inactiva por más de 28 horas seguidas. En ese momento, el volumen de transacción masiva fue lo que causó la congestión y posterior interrupción de la red.
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Article by Hannah Estefania Perez / DiarioBitcoin
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