The recurring transactional issues due to high traffic on the Solana blockchain were addressed by the Solana community validators, who successfully restarted the Mainnet Beta.
Third-Party Solana Validators Brought In
On Tuesday, the Solana Foundation took to social media to update the community that the network was experiencing resource exhaustion, causing transactional issues on its usually high-throughput blockchain. The network maintainers also revealed third-party validators have been brought on board for a complete system reboot.
The validators claimed that the transaction blocks were not being finalized properly because certain transactions were taking longer than the allotted time as per the network code. Finally, on Wednesday, Solana tweeted about the successful restart conducted by the community.
“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.”
Team Solana Gets To Root Of Technical Difficulty
Talking about the issues, Solana Labs CEO Anatoly Yakovenko attributed the instability to a flood of bot-generated transactions on Raydium, a newly-launched decentralized finance protocol. He also pointed out that the excessive forking was being caused by the rapid growth of the queues that forward transactions to block producers.
However, an official spokesperson from Solana spoke to CryptoDaily about the situation,
“Solana Mainnet Beta encountered a large increase in transaction load which peaked at 400,000 TPS. These transactions flooded the transaction processing queue, and the lack of prioritization of network-critical messaging caused the network to start forking. This forking led to excessive memory consumption, causing some nodes to go offline.”
Did Solana Grow Too Fast?
Solana has been one of the fastest-rising cryptocurrencies of the year. It is currently the seventh-largest crypto worldwide by market cap ($47bn) and has shot up over 30,000% from its lowest value of 50 cents from just a year back. In addition, the coin has more than doubled in the last month, peaking at $211 last Thursday.
However, according to Strah Savic, the Head of Data and Analytics at FRNT Financial, the issues on the Solana blockchain could be attributed to a lack of testing. He stated,
“It has some interesting technical features, but realistically Solana hasn’t yet been fully tested in a live setting. What we are likely seeing is the experimental nature of blockchain tech playing out.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.