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Solana validators announced that they will restart the blockchain network's Mainnet-Beta cluster using version 1.17.20 after an outage today, February 6.
Earlier today, Solana's status page confirmed an outage on its mainnet. “Engineers from across the ecosystem are investigating an outage on the Beta mainnet,” one of the blockchain company’s official social networks. wrote.
Laine, a software and blockchain company that validates the Solana blockchain, further explained that:
“Solana Mainnet-Beta is experiencing performance degradation, block progression is currently paused, core engineers and validators are actively investigating.”
The company added:
“Engineers are investigating and identifying a possible fix, it is not yet clear whether recovery is possible without a coordinated restart of the cluster. Consensus on the last optimistic slot was reached at 246464040, validators are on standby for next steps if necessary.
An overview of Solana's blockchain explorer watch that the blockchain network processed its last transaction two hours ago, around 09:52 UTC.
Solana has a long history of outages, and the last such experience occurred early last year, according to its status. page.
GROUND Dips
Following this news, SOL's value fell about 5% to around $94, continuing a largely negative trend that has seen it lose more than 10% over the past week, according to CryptoSlate data. Solana remains the sixth largest digital asset in terms of market capitalization despite the price decline.
Last year, the network showed enormous resilience after its deep relationships with Sam Bankman-Fried, the founder of the bankrupt FTX exchange, were revealed.
This has led to improved adoption and growth among crypto enthusiasts who have flocked to the network for its cheaper and faster transactions compared to more reputable rivals like Ethereum. Over the past three months, Solana-based decentralized exchanges briefly surpassed Ethereum's twice when facilitating more everyday trading activities.
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