Solana: Why is Solana down?

The Solana network has had at least seven full or partial outages throughout the previous year, which is not a good year for its investors. The Solana network outage that stretched for hours ultimately had a significant influence on the price of Solana (SOL). According to Coinmarketcap, the prices of SOL decreased nearly 13% in the past 24 hours.

Solana price plummets after its latest network outage

Solana, one of the most valuable cryptocurrencies by market value, fell more than 13% in the wake of a worldwide network outage that harmed its price. This was just the second major outage in a month for the network.

The Solana blockchain suffered another outage on Wednesday, 1 June 2022, when a bug caused production to come to a halt at 16:55 UTC. According to the incident report, validator operators were able to restart the mainnet after around four and a half hours by restarting it at around 21:00 UTC.

Later, Solana’s co-founder Anatoly Yalovenko went on Twitter to clarify things, stating that the previous worldwide outage was caused by a bug that prompted the nodes to generate distinct outputs, resulting in a consensus failure. He explained that because of the long-lasting nonce instruction, a portion of the network believed the block invalid, and no transactions could be processed.