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Solana Hit by Major Outage

SOL took a dive this morning when the network suffered an hours-long outage.

Jack Inabinet
Feb 6, 2024 • 1 min read

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Solana experienced its first major outage in a year, and markets initially responded by selling SOL, sending the token tumbling by 3.5%. Why was this event a testament to Solana’s resilience?

A patch to resolve the issue was live within an hour of the incident, coinciding with SOL’s local bottom, but the outage continued for another 4 hours, as 80% of Solana’s validators needed to come back online to reach the critical number of validators required for the network to resume.

Step 5)
Enough validators restart, critical number is hit, network resumes.

End.

Hope you gained a bit more knowledge today!

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Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.