Solana Experiences Its Seventh Outage In 2022 As Bots Infiltrate The Network.

2022-05-02 | Selina Mathew

Solana Experiences Its Seventh Outage In 2022 As Bots Infiltrate The Network.

Owing to a huge amount of transactions from nonfungible token (NFT) minting bots, the Solana network had a seven-hour downtime overnight between Saturday as well as Sunday.

A career-high four million transactions, or 100 gigabits of data per second, crowded the network, knocking validators out of consensus and forcing Solana to go black on Saturday about 8:00 p.m. UTC.

Auditors were unable to effectively restore the main network until seven hours later, at 3:00 a.m. UTC on Sunday.

The bots hoarded Candy Machine, a prominent tool utilized by Solana NFT initiatives to initiate collections. Metaplex revealed in a Twitter post that traffic from bots on their application was partly responsible for the network outage.

Metaplex announced that it would levy a 0.01 Solana (SOL) fee, or $0.89 at the time of posting, on wallets that try to execute an erroneous transaction, which the company described as "usually done by bots who are blindly attempting to mint."

The downtime led the price of SOL, the blockchain's native token, to fall by about 7% to $84, however prices have subsequently recovered to slightly over $89.

As per Solana's own status tracking, this is the fourth time this year that company has experienced disruptions. Between January 6 and 12, 2022, the network had problems that resulted in partial outages lasting between 8 and 18 hours.

According to Solana, "heavy compute transactions" reduced network capacity to "few thousand" transactions per second (TPS), well below the projected 50,000 TPS.

Later that month, between the 21st as well as 22nd of the month, over 29 hours of downtime was reported, with numerous repetitive transactions creating network congestion and outages on the blockchain.

In September 2021, Solana experienced a significant outage that knocked the network offline for nearly 17 hours. That disruption, according to Solana, was caused by a distributed denial-of-service (DDoS) assault on an early decentralised exchange (DEX) offering, with bots flooding the network at 400,000 per second. Industry analysts weighed in on what has been dubbed an "Ethereum killer."

Throughout the weekend, Solana was the second network to see significant transaction traffic connected to NFTs. The Ethereum transaction cost increased to above $450 on average as a result of Yuga Labs' distribution of 55,000 NFTs, with certain customers spending up to 5 Ether (ETH), or $14000, in gas costs for transactions as well as much more to mint one amongst the NFTs.


Leave a comment

Your email address will not be published. Required fields are marked *

Top 7 cryptocurrency overview

Best trading tool for cryptocurrency

2022 Top cryptocurrency Price Prediction List