Solana Archives

CZ responds to mainstream FUD, and Solana goes down again — Watch The Market Report live

February 28, 2023 boss

This week on The Market Report, the resident experts at Cointelegraph discuss the recent fear, uncertainty and doubt (FUD) around the popular cryptocurrency exchange Binance and what the CEO of Solana had to say about recent outages. We kick things off with this week’s top stories Binance CEO responds to Forbes claims: ‘They don’t know how an exchange works’ In the aftermath of the FTX collapse, Forbes published an article focused on the recent “shuffling” of funds by the Binance cryptocurrency exchange. However, the following day on Feb. 28, Binance co-founder and CEO…

Solana Faces Renewed Criticism After 10th Downtime and Bumpy Restart, but Developers Remain Optimistic – Bitcoin News

February 28, 2023 boss

Following the initial incident on Feb. 25, Solana resolved the blockchain’s performance degradation after validators decided to restart the network. According to an outage report following more than 24 hours of downtime, Solana developers detailed that the “root cause is still unknown and under active investigation.” Social Media Mocks Solana’s 10th Downtime, Supporters Defend Project Solana has faced renewed criticism after the blockchain network experienced its tenth downtime on Feb. 25 and into the following day. The network was widely mocked on social media and forums, including r/cryptocurrency. In one…

Solana Developers Say Reason For Network Outage Still Unclear

February 28, 2023

“Votes aren’t just counted as transactions, they are literally implemented as transactions because there is no cheaper way to do it,” Yakovenko said. “If there was a cheaper way to get votes to all the nodes in the network, then why wouldn’t user transactions also take the cheaper path?” Source

Solana CEO hoses down claims network outages caused by on-chain voting

February 28, 2023 boss

Anatoly Yakovenko, the founder and CEO of Solana Labs, has denied claims that Solana’s network outages were being caused by a high volume of validator messages and its on-chain voting system clogging its consensus layer. While the Solana Foundation confirmed in a Feb. 27 post that the “root cause” of the recent 20-hour network outage is still not clear, the CEO responded to speculation that Solana’s decision to include on-chain votes as transactions is a “massive design flaw” that has led to its many outages. The controversial thread claiming that…

Solana outage triggers ballistic reaction from the crypto community

February 27, 2023 boss

As the Solana network suffered another setback, crypto community members went on social media to express various concerns, even comparing the blockchain to other projects like Ethereum and Bitcoin. On Feb. 25, the Solana network faced performance degradation issues, resulting in transaction disruptions, leading validators to opt for a network restart. Seemingly tired of the same old story, members of the community expressed themselves on Twitter, with some even questioning Solana’s (SOL) rank as a top cryptocurrency. Amid the network issues, nonfungible token (NFT) artist Crypto Tea raised a question…

First Mover Asia: Solana in the Green After Weekend Deep Freeze

February 27, 2023

ALSO: CoinDesk Chief Content Officer Michael Casey considers why the U.S. Securities and Exchange Commission has overreached in its recent actions against crypto entities, and that the crypto industry must improve its lobbying efforts; bitcoin’s price rises. Source

Solana Validators to Make Second Restart Attempt as Transaction Freeze Drags On

February 26, 2023

By evening New York time, validators running Solana’s infrastructure had long since concluded that the best way to right the chain would be to synchronize a restart and fork the chain. A first attempt was abandoned when validators realized they picked the wrong point at which to restart, further lengthening the delay. Source

Solana Blockchain Experiences Technical Glitch Causing Transaction Slowdowns – Altcoins Bitcoin News

February 25, 2023 boss

The Solana smart contract token network experienced a technical glitch on Saturday, February 25, 2023, known as a “large forking event,” causing transaction failures for some users. Solana’s incident report referred to it as “cluster instability” and indicated that a coordinated restart was launched to accelerate block finalization. Solana Blockchain Deals With ‘Large Forking Event’ On Saturday at about 6:37 UTC, the Solana blockchain experienced reduced functionality, and users reported a significant slowdown in block finalization, along with some transaction failures. Solblaze, the liquid staking pool, reported that while Solana…

Solana faces slowdown in block production, network restarted

February 25, 2023 boss

Solana network faced a slowdown in block production on Fev. 25 following the upgrade in the validator software. The incident resulted in disruptions to transactions and led validators to downgrade the software in an attempt to restore network performance. The technical issue started around 6:00 AM (UTC), leading validators to downgrade to version 1.13 in an effort to restore transactions in the network. The downgrade, however, was not enough to restore Solana to normal operations, forcing the decision to restart the network on v1.13.6. The Solana network is currently restarting…

Solana Network’s Transaction Processing Craters After ‘Forking Event’

February 25, 2023

It was not immediately clear what caused the “long forking event,” two validator operators told CoinDesk. Validator operators and representatives from Solana Foundation as well as Solana Labs are coordinating a response, the pseudonymous SolBlaze, who runs a staking service, said. Source