Share this article
The Solana Foundation reported that the high-throughput blockchain was experiencing “intermittent instability” earlier today. Meanwhile, the Ethereum Layer Two solution Arbitrum is also down.
Solana, Arbitrum Face Network Issues
Solana and Arbitrum are down.
Solana Status, a Twitter page run by the Solana Foundation, posted an update reporting that the issue had been ongoing for 45 minutes at 12:38 UTC Tuesday. It read:
“Solana mainnet-beta is experiencing intermittent instability. This began approximately 45 minutes ago, and engineers are investigating the issue.”
The team added that resource exhaustion had caused a denial of service and that engineers were looking for a resolution. “Validators are preparing for a potential restart if necessary,” the announcement read.
Data from SolScan, a popular block explorer for Solana, indicates that the last block on the network was processed roughly three hours ago. Many users have also reported that their funds are stuck as a result of the incident.
Phantom, a popular Solana-based wallet, confirmed that it was “having trouble connecting” along with other applications.
Solana, which bills itself as a high-throughput blockchain, has faced other performance issues in recent weeks. On Sep. 2, Solana Status posted a similar message that the network was experiencing “intermittent instability,” which was the result of performance degradation. The issue reduced throughput on the network and reportedly lasted for about 62 minutes.
Solana’s SOL token took a dip around the time the issues started, hitting a low of $156.36. It’s slightly recovered since, trading at $162.41 at press time.
Following Solana’s update, the Ethereum Layer Two solution Arbitrum reported that its Arbitrum One mainnet had suffered an outage. A tweet read:
“We are currently experiencing an outage on Arbitrum One. Our team is working on it and we will post updates here.”
Editor’s note: This is a developing story. We’ll post further updates as we receive more information.
Disclosure: At the time of writing, the author of this feature owned ETH, ETH2X-FLI, CRV, and several other cryptocurrencies.
Solana, Fantom Recover From Dip to New All-Time Highs
Solana and Fantom have quickly recovered from the market’s recent flash crash. Both assets now sit at crucial support levels that could propel them into higher highs. Layer 1 Coins…
How to Trade Using the Inverse Head and Shoulders Pattern
In stock or cryptocurrency trading, you may have heard of the term “inverse head and shoulders.” Also known as the “head and shoulders bottom” formation, the inverse head and shoulders chart pattern can…
Solana Makes New All-Time High As Sell Signal Pops Up
Solana appears to be approaching exhaustion. A Wall Street-class trading indicator shows a one to four daily candlestick correction may occur before SOL advances further. Solana Flashes Sell Signal Solana…
Credit: Source link