After an outage, the Solana validator community has completed the mainnet beta restart.

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Institutions have recently placed large bets on Solana investment products. In fact, it accounted for an astounding 86.6 percent of total weekly inflows into crypto-investment products. Solana has so stood tall, even when contrasted to Bitcoin and Ethereum.

CoinShares’ Digital Asset Fund Flows Weekly shed further light on this “hot” altcoin and its dominance. Or at least, that was the case until recently.

Did it bite more than it could chew? 

Unfortunately, it could have been the case.

Solana has made headlines today after Solana Status, the official SOL support account, warned the community that the mainnet beta was suffering “intermittent instability” for 45 minutes. It went on to say,

Post Mortem findings 

Solana Status discovered that a massive spike in transaction load to 400,000 per second had overburdened the network after further examination. As a result, transaction processing queues were “flooded,” with the lack of “prioritisation of network-critical communications leading the network to start forking.”

Despite many attempts, the engineers were unsuccessful in stabilizing the network. The aforementioned forking led to excessive memory consumption, leading to some nodes going offline. Soon after, the validator community opted to coordinate a restart of the network.

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“…the community is preparing a new release, and instructions will be posted in Discord,” a later tweet noted.

At the time of writing, the Solana validator community had “successfully completed a restart of Mainnet Beta after an upgrade to 1.6.25.”

It added,

“Dapps, block explorers, and supporting systems will recover over the next several hours, at which point full functionality should be restored.”

The sudden downtime led to a lot of confusion within the community. Solana, considered by some as a direct rival of Ethereum, saw a sharp decline in its price soon after.

Source: Coinstats

SOL was trading slightly shy of $162 at the time of publication, with a 4-percentage-point drop in the previous 24 hours.

However, this isn’t the first time Solana has had to take a break. In December 2020, the same mainnet beta network went offline for around six hours. Even so, engineers voted to restart the network.

Solana isn’t the only project in the news today, however. Ethereum’s layer-two rollup network Arbitrum One suffered a similar fate. The Arbitrum Sequencer went offline for roughly 45 minutes.

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“The root cause of the downtime was a bug causing the Sequencer to get stuck when it received a very large burst of transactions in a short period of time. The issue has been identified and a fix has been deployed,” a report observed.

These occurrences and disruptions are not new. Take, for example, IOTA. The project’s mainnet was notoriously offline for 11 days in a row. According to many, these instances have had a role in dragging the altcoin down the rankings over time.

Will Solana face the same fate? The only way to know is to wait and see.

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