Solana developers have published a preliminary report on the causes of the large-scale failure. The incident took place on September 14 – the new blocks did not leave for 17 hours.
9-14 Network Outage Initial Overview https://t.co/cHYtqSwf5v
— Solana Status (@SolanaStatus) September 20, 2021
According to the report, the network was back to full functionality in less than 24 hours and no funds were lost. The developers named a DoS attack as the actual cause of the failure.
“At 12:00 UTC Grape Protocol launched its IDO on Raydium, and bots generated transactions that flooded the network,” the developers said.
According to them, the overflowing memory led to the failure of “many validators”, slowing down and eventually stopping the network. Immediately after the restart on September 15, the developers explained that transactions were overflowing the processing queue, and the lack of prioritization of critical messages led to a fork in the network.
“At 12:11 UTC, the validator community noticed a surge in transactions and a slowdown in the network. […]… When the problem was diagnosed, the community proposed a hard fork from the last confirmed slot, ”the message says.
According to the developers, the validators applied the update locally, checked the registry, and continued to issue blocks. The network was fully operational at 05:30 UTC, they added.
The developers expressed their gratitude to the validator community, engineers and the Solana ecosystem. A detailed report will appear in the coming weeks, they said.
Against the background of the failure, the SOL price dropped from levels around $ 160 to $ 142.39 (Kraken exchange). The token is currently trading at around $ 143.
Kraken Hourly SOL / USD chart. Data: TradingView.
Earlier, the founder of the BlockTower Capital crypto fund, Ari Paul, explained that in his criticism of Solana, many Ethereum supporters find themselves in the position of the bitcoin community in its disputes with opponents of digital assets.
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I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.