Solana blockchain network suffers another outage, SOL price dropped

There is currently an outage on the Solana blockchain network, which is the 11th in the last two years. According to the most recent updates, block advancement has stopped, and Solana’s (SOL) mainnet beta has not been operational for roughly two hours.

Two well-known block explorers, Solscan and OKLink, first reported that there weren’t many new transactions on the network, which led to the discovery of the issue.

The most recent transaction was recorded at 9:52 a.m. UTC. Upbit, a crypto exchange, announced that it would not be taking any more SOL or other token deposits or withdrawals, citing ongoing disruption.

Solana’s team acknowledged the situation in an incident report. Although they admitted to the incident, they did not explain, only stating that “engineers from across the ecosystem are investigating an outage on mainnet-beta.”

Laine, a blockchain software startup and Solana validator, provided more details on the technical issues encountered.

“At 246464040, there is consensus on the final optimistic slot. Validators are prepared to take any additional action as needed,” Laine said.

Additionally, they said that while engineers are working on a potential solution, it is still unclear whether a coordinated cluster restart will be required.

“Once this has been built and tested, additional instructions will be released to validators,” the team stated, adding, “Engineers are building a release containing a remediation.”

“UPDATE: Validators have begun generating snapshots using their local ledger state to prepare for a restart,” SolanaFloor reported, adding to the updates.

Engineers at Solana Ecosystem Core are working on releasing the remediation build in anticipation of the outage.