Solana’s Network Suffered Another Network Outage: Analysis

Solana’s network suffered another network outage for 48 hours but this time the users that took loans were forced to pay the price as they faced some heavy liquidations as we are reading more in our latest blockchain news.

While the crypto market was bleeding dramatically last week, Solana experienced another network hiccup that caused panic among traders and other DEFI users across the crypto community. Solana’s network suffered multiple issues in the past few months and this current incident happened twice in January. But unlike other occasions, the latest outage lasted 48 hours. The team said that they first noticed an issue on Friday at about 00:00 UTC:

“The mainnet-beta cluster is experiencing some performance degradation, we are currently investigating the issue.”

The investigation lasted more than a day before the team was able to identify a cause on Saturday at 17:55 UTC. As per the report on the Solana Status page, the issue was caused by excessive duplicate transactions that were done by bots. The issue was resolved after the release of the adoption of V1.8.14 which was designed to mitigate the effects of the issue:

“These forthcoming releases are aimed at improving the state of the network, with more improvements expected to roll out in the next 8-12 weeks. Many of these features are currently live on Testnet, where they are being rigorously tested.”

The recent network issue provided developers and non-Solana supporters with other opportunities to jeer the supposed Ethereum killer. HarperCollins’ author Mark Jeffrey thinks that Solana is already out of the winning blockchain of the future because of its many network outages:

“Another day, another 48 hour #Solana outage.

This is like the sixth time this has happened in 3 months.

I have zero faith in it now. It is the new EOS.

The fight is now between ETH, BSC, Fantom, Avalanche, and Terra.

— Mark Jeffrey ⚡️ January 23, 2022”

Solana was down for 48 hours a few times now and many question the viability of the monolithic structure so it is clear that the winning blockchain of the future will be one with a modular architecture. While the network issue was resolved, DEFI users on the blockchain were left to pay the price and even faced heavy liquidations in the past 48 hours that the network was down.