{"id":1449,"date":"2021-09-15T07:56:24","date_gmt":"2021-09-15T06:56:24","guid":{"rendered":"https:\/\/tradersofcrypto.com\/news\/?p=1449"},"modified":"2021-09-15T07:56:24","modified_gmt":"2021-09-15T06:56:24","slug":"solana-sol-crashes-on-network-outage","status":"publish","type":"post","link":"https:\/\/tradersofcrypto.com\/news\/solana-sol-crashes-on-network-outage\/","title":{"rendered":"Solana (SOL) Crashes on Network Outage"},"content":{"rendered":"\n<p>Solana (SOL) broke down to lower levels after its network reached transaction capacity. The sudden transaction volume caused validators to fall out of sync, deciding to shut down the network and restart with a new consensus.&nbsp;<\/p>\n\n\n\n<p>The need for the restart arose after validator nodes could not coordinate, leading to a chain split. Some nodes went offline, leading to start with a clean slate. At this point, it is uncertain which transactions would be rolled back.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">1\/ Solana Mainnet Beta encountered a large increase in transaction load which peaked at 400,000 TPS. These transactions flooded the transaction processing queue, and lack of prioritization of network-critical messaging caused the network to start forking.<\/p>&mdash; Solana Status (@SolanaStatus) <a href=\"https:\/\/twitter.com\/SolanaStatus\/status\/1437856638279487493?ref_src=twsrc%5Etfw\">September 14, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The Solana network failed to produce a block for 17 hours. Later, an almost complete restart was announced, though blockchain explorers post misleading information on the last blocks produced.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"und\" dir=\"ltr\">YES: 81.530\/80%. \ud83d\ude80<\/p>&mdash; Is Solana Up Yet? (@IsSolanaUpYet) <a href=\"https:\/\/twitter.com\/IsSolanaUpYet\/status\/1438014075225526274?ref_src=twsrc%5Etfw\">September 15, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The network has been built with the idea of up to 50,000 transactions per second, and crashed under a load of estimated 400,000 attempted transactions per second.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Network Outage Hurt SOL Rally<\/strong><\/h3>\n\n\n\n<p>Solana extended the crash from the recent <a href=\"https:\/\/tradersofcrypto.com\/news\/cryptocurrency-market-update-btc-eth-sol-xtz\/\">SOL rally above $209<\/a>, sliding to $158.74, logging a 15% drop from its Monday highs. Trading continues at volumes close to normal, with the market rebouncing from the $150 price. <a href=\"https:\/\/tradersofcrypto.com\/news\/platform-projects-thrive-after-market-crash\/\">SOL<\/a> remains one of the biggest gainers in 2021, returning above 2,491% since the start of the year.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SOL<\/a> just saw its largest percentage daily drop since August 1st after the <a href=\"https:\/\/twitter.com\/hashtag\/Solana?src=hash&amp;ref_src=twsrc%5Etfw\">#Solana<\/a> network experienced an outage\ud83d\udcc9<br><br>However, it seems that <a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SOL<\/a> has found support around $150!<br><br>Bet on the price of <a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SOL<\/a> (\u2b06\ufe0for\u2b07\ufe0f) with up to x400 leverage\ud83d\udc47<a href=\"https:\/\/t.co\/9XQAOupH3B\">https:\/\/t.co\/9XQAOupH3B<\/a> <a href=\"https:\/\/t.co\/EDKraboOFu\">pic.twitter.com\/EDKraboOFu<\/a><\/p>&mdash; Rollbit (@rollbitcom) <a href=\"https:\/\/twitter.com\/rollbitcom\/status\/1437943493536714758?ref_src=twsrc%5Etfw\">September 15, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>For the upcoming days, SOL may not be sent and received from exchanges, leaving the market with the current available supply. A restart is expected as soon as sufficient SOL staking is achieved. This means the new SOL network may restart with a smaller number of nodes.&nbsp;<\/p>\n\n\n\n<p>There is no current set date for the relaunch. The best approach is to wait out the exchanges until full recovery of withdrawal and deposit functionalities.&nbsp;<\/p>\n\n\n\n<p>The Binance exchange still holds its Solana wallets closed, while users expected a return to normalcy after reports that block generation has resumed.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Hey <a href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\">@binance<\/a> \ud83d\udc4b What about enabling <a href=\"https:\/\/twitter.com\/hashtag\/Solana?src=hash&amp;ref_src=twsrc%5Etfw\">#Solana<\/a> withdrawals again? The network is back for around 30 min now.<\/p>&mdash; Go ahead and jump \ud83d\udc99 (@a_premiers) <a href=\"https:\/\/twitter.com\/a_premiers\/status\/1438024581730668544?ref_src=twsrc%5Etfw\">September 15, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Is Solana Fully Decentralized<\/strong><\/h3>\n\n\n\n<p>The recent network outage stress-tested node operators. In theory Solana can restart with only leading nodes that hold enough SOL.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">the solana network outage should be simply a short-term speed bump. 20 nodes (2%) hold 66% of staked <a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SOL<\/a>, you only need 80% of stake to restart.<br><br>What if Sol validators are actually decentralized in the future though? How long could a network restart take?<\/p>&mdash; Sisyphus (@0xSisyphus) <a href=\"https:\/\/twitter.com\/0xSisyphus\/status\/1437858030461333510?ref_src=twsrc%5Etfw\">September 14, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>This has raised questions of whether networks could restart in case all nodes are anonymous and fully decentralized. The recent network outage also underlined issues with running a validator node. Despite the low costs to end users, validators now need a significant upfront investment to secure the network.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Users: The fees on <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> are too high, use Solana<br><br>Validators: The fees on <a href=\"https:\/\/twitter.com\/hashtag\/Solana?src=hash&amp;ref_src=twsrc%5Etfw\">#Solana<\/a> are too high I can&#39;t afford to validate the chain anymore<br><br>It now costs nearly $100k a year in transaction fees for a validator to participate in consensus &amp; $1.2 Million of <a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SOL<\/a> stake to break even <a href=\"https:\/\/t.co\/NYwg6D7u1e\">https:\/\/t.co\/NYwg6D7u1e<\/a><\/p>&mdash; Seq \ud83d\udd3a (@CryptoSeq) <a href=\"https:\/\/twitter.com\/CryptoSeq\/status\/1435842976589230081?ref_src=twsrc%5Etfw\">September 9, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The network allows up to 1,000 validator nodes, though a smaller number of validators can, in theory, produce secure transactions.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What Caused the Transaction Overload<\/strong><\/h3>\n\n\n\n<p>In the past, networks have been spammed with multiple micro-transactions, which have affected even the Bitcoin blockchain. Projects with very low transaction fees are often attacked.&nbsp;<\/p>\n\n\n\n<p>On the Solana network, one of the sources for millions of transactions is KIN, which claims to be the network\u2019s most active token. Other potential sources include games, bot activity, or some forms of so-called \u201ctransaction mining\u201d.&nbsp;<\/p>\n\n\n\n<p>According to Anatoly Yakovlenko, CEO of Solana Labs, the transaction overload originated with the Raydium project. Raydium is the leading automated market maker and liquidity pool hub on the Solana network.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Bots during a raydium ido are flooding the network at 300k txs per second. The queues that forwards txs to block producers grew in size to a point that caused excessive forking.  The fix to prioritize messages in this queue was already in the works but wasn\u2019t out yet.<\/p>&mdash; Anatoly Yakovenko (@aeyakovenko) <a href=\"https:\/\/twitter.com\/aeyakovenko\/status\/1437795827704029189?ref_src=twsrc%5Etfw\">September 14, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Raydium performs a series of token sales, including NFT collections. Other sources of activity include IDOs, or decentralized token sales. According to Yakovlenko, similar \u201cresource exhaustion\u201d has been noted in the past, and is connected to token issuance events on the Raydium platform.<\/p>\n\n\n\n<p>Transaction mining has affected EOS and TRON in the past, and originated with projects that minted new tokens in exchange for making multiple micro-transactions.&nbsp;<\/p>\n\n\n\n<p>In the case of Solana, a Break Solana game has been spotted, where users are asked to produce as many micro-transactions as possible, in an attempt to stress the network. Other possible explanations include an NFT minting announcement, where bots compete to generate rare collectibles.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Ethereum Nodes Also Face False Ledger Attack<\/strong><\/h3>\n\n\n\n<p>The Solana network was not the only one to be attacked. Ethereum, despite its claims to higher security through proof-of-work, saw nodes lose consensus.&nbsp;<\/p>\n\n\n\n<p>Fortunately, only a handful of nodes verified a fake chain of transactions, later reverting to the valid state supported by other nodes.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Someone unsuccessfully tried to attack <a href=\"https:\/\/twitter.com\/hashtag\/ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#ethereum<\/a> today by publishing a long (~550) blocks which contained invalid pow&#39;s. Only a small percentage of <a href=\"https:\/\/twitter.com\/nethermindeth?ref_src=twsrc%5Etfw\">@nethermindeth<\/a> nodes switched to this invalid chain. All other clients rejected the long sidechain as invalid<\/p>&mdash; MariusVanDerWijden (@vdWijden) <a href=\"https:\/\/twitter.com\/vdWijden\/status\/1437712249926393858?ref_src=twsrc%5Etfw\">September 14, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>An invalid chain on Ethereum cannot be sustained for a long time, as it would need some mining power behind it, making it more expensive to continue the attack.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Arbitrum Also Experiences Temporary Freeze<\/strong><\/h3>\n\n\n\n<p>In a different kind of failure, the Arbitrum project experienced a 45-minute partial outage. The project, which allows transfers between blockchains and serves as a second-layer solution to <a href=\"https:\/\/tradersofcrypto.com\/news\/will-focus-shift-to-the-top-two-cryptos-bitcoin-and-ethereum\/\">Ethereum<\/a>, failed to submit some of the transactions.\u00a0<\/p>\n\n\n\n<p>The outage affected the project\u2019s Sequencer, a smart contract that temporarily held signed transactions.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Please see below for more information on today&#39;s Sequencer downtime.<a href=\"https:\/\/t.co\/85inudbSGk\">https:\/\/t.co\/85inudbSGk<\/a><\/p>&mdash; Arbitrum is live on mainnet! (@arbitrum) <a href=\"https:\/\/twitter.com\/arbitrum\/status\/1437855924249575424?ref_src=twsrc%5Etfw\">September 14, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>No funds were lost during the outage, though the project warned of new eventual Sequencer outages in the coming days.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana (SOL) saw its network resources depleted, possibly by a token generation event on the Raydium platform. SOL prices crashed after new block generation stalled.<\/p>\n","protected":false},"author":3,"featured_media":1450,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[20,374,77,82],"class_list":["post-1449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised","tag-nft","tag-raydium","tag-sol","tag-solana","entry"],"_links":{"self":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts\/1449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/comments?post=1449"}],"version-history":[{"count":0,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts\/1449\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/media\/1450"}],"wp:attachment":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/media?parent=1449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/categories?post=1449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/tags?post=1449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}