Solana network faces degraded performance for the second time this week
Solana suffered a fourth network incident in the span of a few months. Two out of the four issues happened this week. The Solana blockchain has faced its second network performance degradation incident this week. According to Solana, this is happening because of a rise in high compute transactions. As a result, the network capacity, which was originally advertised to be 50,000 transactions per second (TPS), was reduced to several thousand TPS. Solana cited this as the reason why users experienced failed transactions and added that its developers are already working to fix the issues.This....
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Solana reportedly went offline for four hours on Jan. 4, however Solana.Status shows there have been no issues on the network. The Solana blockchain has suffered a third incident in just a few months that clogged the network and caused transactions to fail, with users debating whether it was caused by another DDos attack or if it was just network issues.The scale and nature of the incident is hard to ascertain, with Coinbase, Wu Blockchain and Redditors reporting there had been an incident causing the network to slow and transactions to fail. However Solana Labs co-founder Anatoly....
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 2022 the blockchain has suffered from ten partial or full outages along with slow block times and Solana’s co-founder said it’s “not the experience that we want to deliver.” Solana (SOL) co-founder Anatoly Yakovenko says the past year has been mired by the network's reliability issues and outages, but recent updates will help the blockchain resolve its reliability issues. During the Breakpoint 2022 annual conference in Lisbon, Portugal on Nov. 5, Yakovenko discussed the past and future of the blockchain, noting the network has faced difficulties over the past year:“We've had a lot of....
The cryptocurrency industry has demonstrated a strong positive trend throughout the course of the week, with leading cryptocurrencies experiencing substantial increases in their market value. Moreover, the price of Solana (SOL) has exhibited superior performance compared to prominent cryptocurrencies, experiencing a notable increase of more than 34% in value over the course of one week. Solana is a widely recognized Layer-1 network renowned for its scalability. The Solana network is characterized by its rapid confirmation times and has a thriving ecology and community. Over the course of....
The crypto exchange added that "all customer accounts and funds remain completely secure." Major U.S.-based cryptocurrency exchange Gemini has experienced two service disruptions today and is now reporting degraded performance in its mobile app, web interface, and application programming interface.According to an update on the Gemini status page, the crypto exchange began investigating reports of potential service disruptions at 13:24 EST today. Though the exchange said it had restored all of its services only minutes later, Gemini reported another service disruption a few hours later,....