Millions of transactions per second and heavy traffic contributed to the network’s disruption, developers explained on Tuesday. Source
Here’s Why Solana Ceased Block Production for Seven Hours on Saturday
Tag: Solana
Solana PoS Blockchain Network Faces Outage For The Seventh Time
January has been a tough month for Solana as the coin encountered a total of six outages. This time Solana again faced a downtime as there has been an increased number of transactions flooded by the Candy Machine NFT bots causing network congestion. Blockchains often have an issue with scaling as they are quite inept in terms of handling the traffic that Web2.0 can handle without encountering major issues. The Layer-1 Ethereum competitor Solana faced this outage for 7 hours over the weekend. As reported by Solana, the network received…
Solana suffers 7th outage in 2022 as bots invade the network
The Solana (SOL) network suffered a seven-hour outage overnight between April 30 and May 1 due to a large number of transactions from nonfungible token (NFT) minting bots. A record-breaking 4 million transactions, or 100 gigabits of data per second, congested the network causing validators to be knocked out of consensus resulting in Solana going dark at roughly 8 PM UTC on April 30. It wasn’t until seven hours later on May 1, 3 AM UTC that validators were able to successfully restart the main network. Validator operators successfully completed…
After Solana’s Co-Founder Said BTC Should Change Its Consensus Algo, Solana Mainnet Loses Consensus for 7 Hours – Bitcoin News
Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Original
Solana Co-Founder Believes Bitcoin Needs to Change to Proof-of-Stake Consensus to Remain Relevant – News Bitcoin News
Anatoly Yakovenko, one of the co-founders of Solana, the proof-of-stake based, smart contracts enabled blockchain, issued a series of statements criticizing bitcoin’s consensus algorithm. In an interview on CNBC, Yakovenko stated that bitcoin might lose adoption if it doesn’t change to a proof-of-stake (PoS) consensus algorithm. Other organizations have also attacked bitcoin, hinting at this same change as a possible solution for what are considered drawbacks by some. Solana Creator Believes Bitcoin’s Proof-of-Work Consensus Algorithm Will Affect Its Usage Anatoly Yakovenko, one of the co-founders of Solana, the PoS consensus-based…
Solana Goes Dark For 7 Hours as Bots Swarm ‘Candy Machine’ NFT Minting Tool
Other parts of the ecosystem quickly moved to bolster their defenses. At 11:36 p.m. EST, Metaplex, the key steward of Solana NFT infrastructure and one closely intertwined with Candy Machine, tweeted it would soon deploy a 0.01 SOL “botting penalty” to help NFT projects stanch excessive traffic. Source
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Solana Stumbles At $100 Level As Bulls Recover The Market
Solana price action indicates that bulls are attempting to regain the market. SOL prices begin the daily trading chart in a horizontal trend. As the market encounters resistance at the $100.5 level, solana prices are trading close to $100. Bulls will attempt to drive prices higher in order to reclaim the $101 level. If prices can be pushed below $99.5, the bears will be able to take control of the market. In the previous 12 hours, Solana prices have fluctuated between $97.10 and $100.54, with the cryptocurrency gaining 0.11%. Solana…
Solana NFT Okay Bears tops charts, South African wine NFTs rake it in and more
Okay Bears, a Solana-powered NFT, managed to top OpenSea’s 24-hour sales tracker for the first time earlier today, beating out all other Ethereum (ETH) projects on offer. It’s the first time a Solana (SOL) NFT project has reached the top spot in popular NFT marketplace OpenSea’s 24-hour sales tracker. .@okaybears No.1 on the OpenSea 24h rankings A @solana project has topped OpenSea’s market-wide 24h sales tracker for the first time! Check out the latest featured Solana collections on our dedicated SOL page: https://t.co/gteXeNRocn pic.twitter.com/1duEDQyxyn — OpenSea (@opensea) April 27, 2022…
Solana DAOs can now bug you to vote with phone calls and texts
You’ll never have an excuse to miss another governance vote if the decentralized autonomous organization (DAO) calls or texts to badger you to vote. The Notifi Network is banking on this concept to help improve abysmal participation rates in governance votes. Launching with Solana DAOs, it combines popular centralized methods used by the Web3 community such as Telegram and Discord pings with more traditional, and harder to ignore notifications like phone calls, text messages or emails. Backed by crypto venture capital firms Race Capital and Hashed, on April 24 Notifi…