The Solana SOL/USD network was forced to stop block production for four hours on Wednesday.
What Happened: Validators reported the issue around 1 p.m. ET on the Solana Status Twitter page.
The bug was related to the “durable nonce” feature of the blockchain, which caused the network to consider some blocks invalid, and as a result consensus cannot be reached.
Around 5 p.m. ET, Solana validators brought the network back online by way of a restart.
Solana is considered an Ethereum ETH/USD killer because of its high-speed transactions with lower transaction fees. However, multiple outages over the last few months have made some industry proponents question the network’s reliability.
See Also: HOW TO BUY SOLANA (SOL)
Price Action: SOL was down 13% over the last 24 hours, as per data from Benzinga Pro. The cryptocurrency is down 84% from its all-time high of $259.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.