The new DEFI platform enters the market! Earn passively - token sale 0.25 $ I'm going in!

Solana and Arbitrum hit offline while Ethereum dodges attack

3 min reading

Solana (SOL) has lost 155 percent of its value in the last 24 hours, despite Ethereum increasing its value

Increasing Ethereum, Solana (SOL) has dropped 155 of its value over the last 24 hours after going through a denial-of-service destruction. Solana recently declared on Twitter that Solana’s mainnet beta had been going through intermittent instability over a 45-minute period. 

After six hours of declaring this Solana gave details on how they witnessed a large increase in transaction load to 400,000 per second had impressed the network to built a denial-of-service and cause the network to start separating. “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.”

There are Solana’s engineers who are failing at stabilizing the network its validator community chose to coordinate a reboot of the network. Solana’s community is preparing a new release at the moment which will give more details expected to be released soon. This whole incident has hit some confidence in Solana with prices decreasing by 15% in 12 hours. SOL had already return from its all-time-high of $215 to trade under $175 prior to the incident news of the blackout witnessed the decrease of prices down to $145. 

Solana is not the only high-profile crypto network to have gone through downtime with Ethereum layer-two rollup network Arbitrum one stating that its sequencer went offline for around 45 minutes. While Arbitrum one emphasized that user fund “were never at risk,” where latest transactions couldn’t have been submitted during the period. OFFchain Labs the team which is building Arbitrum One said that its network is still in beta and warned that “further outages are possible in these early days.” 

The team owes the pause to a “bug causing the sequencer to get stuck” after a huge batch of transactions which were given to the Arbitrum sequencer over a short period of time. 

Currency Exchange rate Buy cryptocurrency

The new DEFI platform enters the market! Earn passively - token sale 0.25 $

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Lushup Holdings FZ LEE. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the tokeneo.com/news/pl website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah - Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.