#Solana Network Crash: Unpacking the Five-Hour Disruption
Buckle up, crypto enthusiasts! Solana, the titan of throughput, recently faced a major outage lasting five hours, sending shockwaves through the crypto sphere. Let's dive into the details of this unexpected event and its aftermath.
The Crash Unfolds: A Chain Reaction of Overload
The chaos ensued as pending transactions on the SOL network surged, overwhelming its capacity and leading to a staggering peak of 400,000 transactions per second (TPS). This overload triggered a chain reaction, with nodes forking themselves and disrupting normal operations, defying Solana's usual Proof of History consensus mechanism.
Swift Resolution: Validators to the Rescue
Solana's validators and core team sprang into action, swiftly identifying the source of the problem and implementing software fixes. Speculations hinted at potential issues with the Berkley Packet Filter mechanism, prompting the release of a patch and a new version of the validator software.
Recovery Efforts: Snapshot Magic
To restore functionality, validators utilized snapshots of their local ledger states before the outage, syncing them to restart the network successfully. By 15:00 UTC on Tuesday, the network was revived, thanks to the collaborative efforts of the Solana community and validators.
Market Response: Resilience Amidst Volatility
Despite the initial hiccup, Solana's resilience shone through as the network stabilized. SOL experienced a temporary 4% decline but quickly rebounded to $95.5, supported by its 50-day Exponential Moving Average (EMA). The charts indicate SOL consolidating below the $100 mark, fending off bearish pressure.
Looking Ahead: Bullish Sentiment Prevails
As Solana navigates through consolidation, bullish sentiment persists, with further upward momentum anticipated. However, a breach below the $79 low from January could signal potential bearish dominance, urging caution amidst the volatility of crypto markets.
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