Invest In Crypto News
  • Home
  • Latest News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
    • Blockchain News
    • Doge News
    • NFT News
    • Video
    • Market Analysis
    • Business
    • Finance
    • Politics
    • Mining
    • Regulation
    • Technology
  • Top 10 Cryptos
  • Market Cap List
  • IC DAO
  • Donations
  • Contact
  • Buy Crypto
  • IC DAO
No Result
View All Result
Invest In Crypto News
  • Home
  • Latest News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
    • Blockchain News
    • Doge News
    • NFT News
    • Video
    • Market Analysis
    • Business
    • Finance
    • Politics
    • Mining
    • Regulation
    • Technology
  • Top 10 Cryptos
  • Market Cap List
  • IC DAO
  • Donations
  • Contact
  • Buy Crypto
  • IC DAO
No Result
View All Result
Invest In Crypto News
No Result
View All Result

Breaking Down Solana’s Outage: What Went Wrong Yesterday?

CryptoExpert by CryptoExpert
February 7, 2024
in Altcoin News
0
Solana ETF
  • Facebook
  • Twitter
  • Pinterest


You might also like

Avalanche Team1 Grant Puts YourGrails RWA Platform In Focus

Upbit Rebalances 864B SHIB In Internal Wallet Move

SecondFi Renews Bounty Push After $16.1M Cardano Exploit

On Tuesday, the Solana blockchain encountered a significant setback, experiencing an outage that halted block production for four hours and 46 minutes. This interruption in service is not the first for Solana, a network celebrated for its high throughput and speed, but also scrutinized for its operational stability. Validators were compelled to initiate a restart with updated software provided by Solana Labs, incorporating a crucial patch intended to rectify the underlying issue.

The Solana Foundation has yet to publish a comprehensive report detailing the cause of the outage. However, insights shared via X (formerly Twitter) by Matthew Sigel, Head of Digital Assets Research at VanEck, and reshared by co-founder Anatoly Yakovenko, provide a technical explanation of the events leading up to the disruption.

Here’s Why Solana Went Down Yesterday

Sigel’s analysis points to a critical flaw in the Berkley Packet Filter (BPF) loader—a fundamental component for deploying, upgrading, and executing programs on the Solana network. This mechanism is essential for deploying, upgrading, and executing programs on the Solana network.

Related Reading: Solana Recovery: Blockchain Restored Within 5 Hours After Shutdown

okex

He elaborated, “BPF loader, the ‘Berkley Packet Filter,’ which is the mechanism to deploy upgrade and execute programs on Solana, failed due to a bug linked to a recent Solana Improvement Proposal (SMID) that altered BPF features, including the removal of metadata usage which was deemed redundant.”

Sigel further elaborated on the reason for the bug’s activation, suggesting, “There is speculation that the bug was manually triggered, leading to the network’s downtime.”

The bug, identified during tests on the testnet, had a fix that was not yet deployed to the main network due to the ongoing testing phase. Addressing the steps taken to mitigate the issue, Sigel stated, “Developers have re-written the BPF code lines to eliminate the bug, necessitating a critical patch to the core software. This ensures that once patched, the network can resume its operations securely.”

The process for restarting the network involves validators creating a snapshot of the last block verified by 66% of the network, achieving consensus on this block, and then restarting the chain. The network can only fully resume once 80% of validators agree on the last block, with a risk of halting if the fix does not perform as expected.

Sigel also touched on second order effects of the outage, suggesting, “Once restarted, we anticipate a significant uptick in DeFi activity as arbitrage bots leverage existing arbitrages, potentially leading to $25M in MEV. This incident may caution future development and SMID discussions, particularly around the debated changes to fee markets.”

Moreover, Sigel touched on the long-term implications of this outage for Solana’s innovation trajectory, noting, “This may slow down innovation on Solana as future SMIDs will be more heavily debated.” He specifically referenced the contentious changes to fee markets as an example of the complex dynamics at play within the ecosystem.

Remarkably, the outage had no lasting effect on the SOL price. SOL even closed yesterday’s trading day with a green candle. At press time, SOL was trading at $95.76.

SOL price, 1-week chart | Source: SOLUSD on TradingView.com

Featured image from Shutterstock, chart from TradingView.com



Source link

  • Facebook
  • Twitter
  • Pinterest
CryptoExpert

CryptoExpert

Recommended For You

Avalanche Team1 Grant Puts YourGrails RWA Platform In Focus

by CryptoExpert
August 1, 2026
0
Total crypto market cap

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Avalanche’s Team1 Accelerator has awarded a $30,000 grant to YourGrails, a platform focused on tokenizing...

Read more

Upbit Rebalances 864B SHIB In Internal Wallet Move

by CryptoExpert
August 1, 2026
0
Total crypto market cap

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure South Korean exchange Upbit has reorganized 864 billion SHIB between internal wallet addresses, creating a...

Read more

SecondFi Renews Bounty Push After $16.1M Cardano Exploit

by CryptoExpert
July 31, 2026
0
Cardano

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure SecondFi has renewed its bounty offer to the attacker behind a $16.1 million Cardano exploit,...

Read more

Aviva Debuts XRPL Tokenized Fund with Irish Approval

by CryptoExpert
July 30, 2026
0
1 minute letter

Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries.All news, reviews, and analyses are produced with full journalistic independence and integrity....

Read more

Dogecoin (DOGE) Flashes Major Buy Signals: 10x Rally Ahead?

by CryptoExpert
July 28, 2026
0
Dogecoin (DOGE) Might Explode Soon But Under This Important Condition (Analyst)

"It seems a historical breakout is about to occur," one analyst stated. Last week, the OG meme coin briefly tumbled under a key level, prompting analysts to...

Read more
Next Post
XRP lawsuit prediction Ripple SEC

Lawyer Unveils New Prediction For Ripple Case

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Doge News
  • Ethereum News
  • Finance
  • Market Analysis
  • Mining
  • NFT News
  • Politics
  • Regulation
  • Technology
  • Trending Cryptos
  • Video

Sitemap

  • Market Cap
  • Donations
  • Trading
  • Mining
  • Contact

Legal Information

  • Privacy Policy
  • Anti-Spam Policy
  • Copyright Notice
  • DMCA Compliance
  • Social Media Disclaimer
  • Terms Of Service

Categories

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Doge News
  • Ethereum News
  • Finance
  • Market Analysis
  • Mining
  • NFT News
  • Politics
  • Regulation
  • Technology
  • Trending Cryptos
  • Video

© Copyright 2024 InvestInCryptoNews.com

No Result
View All Result
  • Home
  • Latest News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
    • Blockchain News
    • Doge News
    • NFT News
    • Video
    • Market Analysis
    • Business
    • Finance
    • Politics
    • Mining
    • Regulation
    • Technology
  • Top 10 Cryptos
  • Market Cap List
  • IC DAO
  • Donations
  • Contact
  • Buy Crypto
  • IC DAO

© Copyright 2024 InvestInCryptoNews.com

This website is using cookies to improve the user-friendliness. You agree by using the website further.

Privacy policy
bitcoin
Bitcoin (BTC) $ 63,048.00
ethereum
Ethereum (ETH) $ 1,866.20
tether
Tether (USDT) $ 0.999172
bnb
BNB (BNB) $ 578.96
usd-coin
USDC (USDC) $ 0.999644
xrp
XRP (XRP) $ 1.06
solana
Solana (SOL) $ 72.87
tron
TRON (TRX) $ 0.327847
figure-heloc
Figure Heloc (FIGR_HELOC) $ 1.01
staked-ether
Lido Staked Ether (STETH) $ 2,265.05

Pin It on Pinterest

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?