- Solana price tumbles as the blockchain is hit by a software glitch, resulting in a second network outage over the past month.
- The Solana network has shut down more than seven times over the past year, staying offline for several hours.
- Analysts predict another leg down in Solana price before the Ethereum-killer begins its recovery.
Solana price suffered a drop as a software glitch hit the blockchain and led to an outage for the eighth time over the past year. Analysts believe Solana price could plummet lower before it recovers from the slump.
Also read: Solana price will outperform once it overcomes this resistance level
Solana price nosedives as glitch hits network blockchain
After suffering a full outage, the Solana price has plummeted below the $40 level. Block production on the Ethereum-killer blockchain was halted at 16:55 UTC on June 1. The outage lasted four and a half hours as validators restarted the mainnet around 21:00 UTC.
Reportedly, a software glitch or a bug triggered the outage and halted the Solana blockchain. The outage has been resolved based on the incident report, and network operators and dApps will continue to restore client services over several hours. The bug was identified in a niche type of transactions designed for offline use cases, and validators began disabling the “durable nonce transactions” until developers identified and patched it.
While the Solana blockchain was offline, there may have been ramifications for custodians whose transactions fall under the “offline-use case” category. The outage could have frozen their ability to move funds until the patch is in.
Incident report by Solana
The incident on June 1 was a failure in Solana’s network ability to handle durable nonces. Instead of treating them as a single transaction, validators double-counted them at two different block heights, breaking the blockchain’s consensus mechanism.
Stakewiz.com, a firm that operates validators on the Solana blockchain, offered insight into the issue. After observing an incidence of this error over the weekend, the validator reported it to the Solana blockchain. However, the bug didn’t affect a broader cluster at the time.
Solana halt today, what happened?
A bug relating to durable nonces was triggered on a majority of validators, leading to a block hash mismatch & validators stalling.
This was actually a known bug that was being fixed and hadn't been triggered in this form previously.
— Laine | stakewiz.com (@laine_sa_) June 1, 2022