The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
All Alt Coin

Solana Blockchain Hits Roadblock, Faces Major Downturn with ‘Intermittent Stability’

by Miki 09/16/2021
by Miki 09/16/2021 0 comment

This is one of the major attacks faced by Solana blockchain after SOL major rally over the last month. The validator community has successfully managed to restart the mainnet beta.

The Solana blockchain which has emerged as a strong alternative to Ethereum faced a major downturn on Tuesday, September 14. There appeared a major ‘denial-of-service’ disruption with the Solana blockchain experience intermittent instability for nearly 45 minutes.

The Solana Foundation officially confirmed the downturn through its Twitter handle Solana Status. It noted:

“Solana Mainnet Beta encountered a large increase in transaction load which peaked at 400,000 TPS. These transactions flooded the transaction processing queue, and lack of prioritization of network-critical messaging caused the network to start forking”.

Solana further explained that the forking led to excessive memory consumption. This resulted in some nodes going offline. Later, Solana Labs CEO Anatoly Yakovenko called the network validators to restart the network.

Soon after the news, the Solana (SOL) price tanked more than 15% to a new weekly low of under $145. However, it has recovered since then partially. As of press time, Solana is trading at a price of $160.89 and a market cap of $47.7 billion.

Off lately, with its staggering bull run, market analysts have been comparing Solana to Ethereum. However, the recent downturn has caused analysts to rethink these claims. Furthermore, with the recent downturn, some have also started questioning Solana’s decentralization.

Last week, Twitter handle Chris Blec question about Solana’s decentralization. The analyst noted that only 20 validators are enough to shut down the network.

OK, I spent much of today looking for decentralization in @solana and I seriously can’t find any.

20 validators could collude to shut down the network right now, according to @solanabeach_io.

That’s not unstoppable, that’s not autonomous, that’s not censorship-resistant. pic.twitter.com/kjeY0on5AP

— Chris Blec (@ChrisBlec) September 9, 2021

Solana Successfully Restarts the Blockchain Mainnet Beta

After hitting a major roadblock, the Solana validator community managed to successfully restart the mainnet beta. Solana updated its recent status noting:

“The Solana validator community successfully completed a restart of Mainnet Beta after an upgrade to 1.6.25. Dapps, block explorers, and supporting systems will recover over the next several hours, at which point full functionality should be restored”.

Although the validators have managed to restart the mainnet beta, Solana’s comparison with Ethereum is too early to make. On Tuesday, September 14, Ethereum developer Marius Van Der Wijden also updated that the Ethereum blockchain faced an attack. The attacker tried to trick a few nodes and published a chain of 550 blocks with invalid proofs.

By seeing that that the Proof-of-work blocks were invalid, the Ethereum nodes rejected them outrightly. “Another great demonstration of how client diversity makes ethereum stronger,” said Van Der Wijden, adding that there’s “no immediate attention required from node operators.”

next Altcoin News, Blockchain News, Cryptocurrency news, Ethereum News, News

Thank you!

You have successfully joined our subscriber list.



Source link

Views: 0
blockchaindownturnFacesHitsIntermittentMajorRoadblockSolanastability
Share
0
FacebookTwitterPinterestEmail
previous post
Cardano Records Over 100 Smart Contracts Following Alonzo Upgrade
next post
How Shrinking Short-Term Supply Of Bitcoin Is Affecting The Asset’s Price

Related Posts

Are Solana’s bulls really strong enough to halt...

12/29/2021

IXFI Announces Launch of New-Age Exchange Platform

12/29/2021

Litecoin repeating history will have this effect on...

12/28/2021

More than just a game – what GameFi...

12/28/2021

Even as network hits one million users, FTT...

12/28/2021

Fintech Expert Makes Six Bold Predictions for Crypto...

12/28/2021

A recovery rally in play for Sushiswap, as...

12/28/2021

SEC Accused of Deliberately Trying to ‘Kill’ XRP...

12/28/2021

Recent gains may finally boost Aave’s dominance in...

12/28/2021

Santa Floki Price Rallies 5,000% after Elon Musk’s...

12/28/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • Bitcoin ATM Operators Joins Forces to Float New Compliance Cooperative

  • Bitmain reveals divestiture plans for Antpool, the leading BTC mining pool

  • Litecoin: Warning signs ahead as this pattern threatens extended decline

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$29,471.001.35%
  • ethereumEthereum(ETH)$1,982.542.03%
  • tetherTether(USDT)$1.00-0.07%
  • usd-coinUSD Coin(USDC)$1.000.04%
  • binancecoinBNB(BNB)$312.684.45%
  • rippleXRP(XRP)$0.4168322.00%
  • Binance USDBinance USD(BUSD)$1.00-0.34%
  • cardanoCardano(ADA)$0.534.12%
  • SolanaSolana(SOL)$50.322.20%
  • dogecoinDogecoin(DOGE)$0.0853112.21%
  • polkadotPolkadot(DOT)$9.953.65%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,494.001.59%
  • Lido Staked EtherLido Staked Ether(STETH)$1,931.850.86%
  • AvalancheAvalanche(AVAX)$29.704.18%
  • tronTRON(TRX)$0.0741980.94%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • Shiba InuShiba Inu(SHIB)$0.0000122.63%
  • daiDai(DAI)$1.000.08%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$70.213.41%
  • CronosCronos(CRO)$0.1899661.89%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$4.91-1.41%
  • matic-networkPolygon(MATIC)$0.653.79%
  • NEAR ProtocolNEAR Protocol(NEAR)$5.974.00%
  • FTX TokenFTX Token(FTT)$30.151.81%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$193.061.73%
  • RareRare(RARE)$0.0461220.00%
  • chainlinkChainlink(LINK)$7.083.45%