Solana mainnet crashed again! The native token SOL collapsed by 13%

Solana mainnet , known as the “Ethereum Killer”, failed again in the early morning of this (2) day. The blockchain stopped producing blocks, could not process transactions, and was disconnected for more than 4 hours. However, according to the blockchain browser Solana Beach It shows that the last transaction is still stuck 6 hours ago.

The mainnet shutdown coincided with the sell-off in the cryptocurrency market, and Solana’s native token SOL also collapsed. As of press time, it has fallen below $40 and reported $39.47, a 13.3% drop in the past 24 hours, from a record high in November last year. Point retracement 84.8%.

According to the official statement, the funds of the entire network are safe, but there is a problem with a transaction function, which causes the same block to generate different random numbers, resulting in the inability of the nodes in the entire network to synchronize and generate blocks. The developer is currently working on fixing the issue, and the Solana network will be upgraded when the issue is successfully resolved.

The Solana team tweeted earlier that the entire network nodes have been restarted at 5:00 this morning. The problematic transaction function will be suspended in the short term, and the network operator and dApp will resume in the next few hours. customer service.

This is the second time Solana has crashed in the past month, and analysts at MICA Research, a cryptocurrency research team, commented,

Although Solana claims to have 50,000 tps high performance and low transaction costs, and is also known as the “Ethereum killer”, it has been shut down many times since this year, and nodes must restart the network for synchronization to continue to operate. Its stability is still up to now. No improvement, as long as Solana goes down, it will have an immediate impact on the market. Bitcoin was still at $31,000 yesterday, and the crash of Solana immediately sent the market back to $29,000.

The Solana blockchain has experienced repeated failures in recent months. In January this year, it crashed twice, and both times were disconnected for more than 48 hours. As a result, many users’ mortgage assets were forced to close their positions and suffered heavy losses. To a large extent Investors and traders have been disappointed, and even began to question whether Solana, who was dubbed the “Ethereum Killer” at the beginning, would “die before he was born.”