cryptogazette.com
Just in case you did not know, the Solana network suffered a major outage, but it’s now fully operational after it managed to recover.
The Solana Foundation tweeted the following message:
The Solana validator community successfully completed a restart of Mainnet Beta after an upgrade to 1.6.25. Dapps, block explorers, and supporting systems will recover over the next several hours, at which point full functionality should be restored.
— Solana Status (@SolanaStatus) September 15, 2021
The Foundation also noted that it was able to recover in an hour after the network problem arose.
Solana mainnet-beta is experiencing intermittent instability. This began approximately 45 minutes ago, and engineers are investigating the issue.
— Solana Status (@SolanaStatus) September 14, 2021
The Foundation continued and said: “Resource exhaustion in the network is causing a denial of service, engineers are working towards a resolution. Validators are preparing for a potential restart if necessary.”
Solana validator community completed a restart
They also posted the following message:
“The Solana validator community successfully completed a restart of Mainnet Beta after an upgrade to 1.6.25. Dapps, block explorers, and supporting systems will recover over the next several hours, at which point full functionality should be restored.”
They also noted that the firing led to excessive memory consumption, and it caused the nodes to go offline. Engineers across the ecosystem tried to stabilize the network, but they were not successful.
Solana wallet Phantom and other decentralized applications were not able to connect smoothly to the network.
“The Solana network seems to be experiencing intermittent instability right now. Phantom and other applications are having trouble connecting. We will keep you updated on the status of the situation.”
Institutions are pouring money into Solana
During the past period, when the crypto market has been seeing a significant correction, Solana defied the trend.
The price of this digital asset surged a lot and recorded close to $50 million in inflows compared to Bitcoin’s $0.2 million and Ethereum’s $6.3 million.
“During last week’s price falls, Solana’s price was a stalwart, outperforming a basket of the top 10 digital assets by 34%, having risen 24% week-on-week. This was reflected with inflows, dwarfing any other digital asset, totaling almost US$50m.”
Stay tuned for more news.