SOL is down 11% for the day as Solana experienced another period of outage, necessitating a rollback and restart by validators.
Solana, a blockchain platform, was offline for over four hours this afternoon due to a bug that halted blockchain manufacturing. The issue was reported just before 1 p.m. ET today on the official Solana Status page and Twitter account, with validators getting the network back online via a restart at 5 p.m. ET.
According to Solana co-founder Anatoly Yakovenko and other developers on Twitter, the problem was caused by a fault in the blockchain’s persistent nonce mechanism. According to Yakovenko, the problem “caused a portion of the network to consider the block invalid,” and as a result, “no consensus could be reached.”
Solana validators collaborated to restart the Solana network without the durable nonce feature, and Yakovenko stated that the bug will be resolved in a future upgrade. According to the Solana Status page, the network was down for 4 hours and 10 minutes. Some Solana RPC nodes are still coming back online as of this writing. Solana is a new competitor to Ethereum, which has grown in popularity as a platform for NFT collectables, decentralized software (dapps) and games, and decentralized finance (DeFi) services.
The network’s SOL cryptocurrency experienced a stratospheric spike in value last fall but has since cooled along with the rest of the crypto market. Solana is currently down 11% in the last 24 hours to just above R620,70 according to CoinMarketCap data, and is down 84 % from its November record of R4034,58.