Solana Suffers 5th Outage in 2022, SOL Dives

Source: AdobeStock / JorgeEduardo

The Solana (SOL) blockchain suffered its 5th outage of 2022 on Wednesday after the production of new blocks on the network ceased due to a consensus failure.

The blockchain went offline at 16:55 UTC and resumed block production at 21:06 UTC, after more than four hours, according to the official incident report.

Block production on Solana Mainnet Beta has halted. Validator operators should prepare for a restart in mb-validators on Discord. https://t.co/gRJJRqEMPn— Solana Status (@SolanaStatus) June 1, 2022

Solana’s native token SOL plunged during the outage, diving by as much as 14% at one point. At 7:31 UTC, the 9th coin by market capitalization is trading at USD 39.84, down by more than 11% over the past 24 hours and nearly 17% in a week. Notably, the coin is down by 85% compared to its all-time high of USD 259 recorded in November 2021, according to CoinGecko.

SOL 7-day price chart. Source: coingecko.com

Meanwhile, a bug that led to consensus failure was the culprit, according to Solana Status.

“Earlier today a bug in the durable nonce transactions feature led to nondeterminism when nodes generated different results for the same block, which prevented the network from advancing,” Solana Status said.