{"id":240908,"date":"2022-06-02T11:20:20","date_gmt":"2022-06-02T10:20:20","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=240908"},"modified":"2022-06-02T14:53:59","modified_gmt":"2022-06-02T13:53:59","slug":"solana-falls-below-40-as-network-suffers-another-outage","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/solana-falls-below-40-as-network-suffers-another-outage\/","title":{"rendered":"Solana falls below $40 as network suffers another outage"},"content":{"rendered":"<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><a href=\"https:\/\/cryptoslate.com\/coins\/solana\/\">Solana<\/a>&#8216;s value fell 12% on June 1 after the network went offline for more than four hours.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The outage is the second time such an event <\/span><span style=\"font-weight: 400;\">has occurred in the last 30 days.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The outage was caused by a bug that stopped block production. Solana Status on Twitter revealed the blackout and instructed validators to restart the network using instructions from the account.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Mainnet Beta Validators: Please follow the restart instructions linked below, and upgrade 1.9.x to 1.9.28 \u2013 If you are on 1.10.x please upgrade to 1.10.23<a href=\"https:\/\/t.co\/gBAOPrpnNe\">https:\/\/t.co\/gBAOPrpnNe<\/a><\/p>\n<p>&mdash; Solana Status (@SolanaStatus) <a href=\"https:\/\/twitter.com\/SolanaStatus\/status\/1532082272316293121?ref_src=twsrc%5Etfw\">June 1, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Bug causes latest Solana outage<\/h2>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Solana Labs co-founder Antony Yakovenko explained what happened. He said:<\/span><\/p>\n<blockquote>\n<p style=\"font-weight: 400;\"><strong>Durable nonce instruction caused part of the network to consider the block is invalid, no consensus could be formed.<\/strong><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">tldr:<br \/>Durable nonce instruction caused part of the network to consider the block is invalid, no consensus could be formed. Network is restating with durable nonce feature disabled.  Fix for durable nonces will be out asap. <a href=\"https:\/\/t.co\/5gZnpCp36N\">https:\/\/t.co\/5gZnpCp36N<\/a><\/p>\n<p>&mdash; T\u25celyxNFT, \ud83c\uddfa\ud83c\uddf8 (@aeyakovenko) <a href=\"https:\/\/twitter.com\/aeyakovenko\/status\/1532076517739532288?ref_src=twsrc%5Etfw\">June 1, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"font-weight: 400;\">The network's official <a href=\"https:\/\/docs.solana.com\/offline-signing\/durable-nonce\"><span style=\"font-weight: 400;\">documentation<\/span><\/a> states that durable nonce is the mechanism that addresses the short lifetime of a transaction blockhash. A bug in this feature led to nodes generating different outputs.<\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Over the past 12 months, the network has suffered seven other outages, enough to generate FUD around its native token. The latest outage piles more pressure on the Solana dev team. <\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In May, it suffered degraded performance and service disruptions eight times. It also went down after non-fungible tokens mining bots overwhelmed its network in April.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Meanwhile, the latest outage led to a price slump for Solana. The asset's price has now fallen below $40. According to <em>CryptoSlate<\/em> <\/span><a href=\"https:\/\/cryptoslate.com\/coins\/solana\/\"><span style=\"font-weight: 400;\">data<\/span><\/a><span style=\"font-weight: 400;\">, SOL has lost almost 85% of value since hitting an ATH in November 2021.\u00a0<\/span><\/p>\n<h2>Doubts begin to build around Solana<\/h2>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Solana is one of the few networks that rode on the crypto community's need for a scalable and cheaper alternative to <a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">Ethereum<\/a>\u00a0and found wide <a href=\"https:\/\/cryptoslate.com\/bank-of-america-calls-solana-visa-of-the-digital-asset-ecosystem\/\">acclaim and adoption<\/a>.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">While the blockchain has enjoyed significant adoption, as can be seen in its burgeoning NFT space, its recurrent outages leave doubt in the mind of investors.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A crypto community member described it as the Windows vista of the blockchain, while another <\/span><span style=\"font-weight: 400;\">urged<\/span><span style=\"font-weight: 400;\"> the team to get its acts together.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The Windows Vista of blockchain world<\/p>\n<p>&mdash; letsgotweet (@letsgotwitt_er) <a href=\"https:\/\/twitter.com\/letsgotwitt_er\/status\/1532093952811315203?ref_src=twsrc%5Etfw\">June 1, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"font-weight: 400;\">On May 26, the network <a href=\"https:\/\/status.solana.com\/\"><span style=\"font-weight: 400;\">revealed<\/span><\/a> that its blockchain clock was slower, running about 30 minutes behind real-world time. This means that its promise of faster transactions might not be entirely accurate.<\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">All these issues have left many skeptical about its potential. But there are still those who think all of these issues are just a bump in the road.\u00a0<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">NFT trader, DegenSwings said, <\/span><\/p>\n<blockquote>\n<p style=\"font-weight: 400;\"><strong>Every blockchain goes through cycles of adoption\u2026 I believe that Solana is going through a cycle which other networks have seen before, Bitcoin in 2013 and Ethereum in 2017.<\/strong><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Every blockchain goes through cycles of adoption, each network grows and it gains users which measured by wallets.<\/p>\n<p>I believe that Solana is going through a cycle which other networks have seen before, Bitcoin in 2013 and Ethereum in 2017.<\/p>\n<p>Let&#39;s see some data \ud83e\uddf5<br \/>1\/6<\/p>\n<p>&mdash; DS \u25ce\u300aTYR\u300b (@DegenSwings) <a href=\"https:\/\/twitter.com\/DegenSwings\/status\/1532115994348425216?ref_src=twsrc%5Etfw\">June 1, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana&#8216;s value fell 12% on June 1 after the network went offline for more than four hours. The outage is the second time such an event has occurred in the last 30 days. The outage was caused by a bug that stopped block production. Solana Status on Twitter revealed the blackout and instructed validators to [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":240922,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77494],"tags":[77382,72190,76674,75380],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Solana falls below $40 as network suffers another outage<\/title>\n<meta name=\"description\" content=\"Solana blockchain suffered another outage that lasted for over four hours on June 1, 2022 leading to its price dropping below $40.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/solana-falls-below-40-as-network-suffers-another-outage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana falls below $40 as network suffers another outage\" \/>\n<meta property=\"og:description\" content=\"Solana blockchain suffered another outage that lasted for over four hours on June 1, 2022 leading to its price dropping below $40.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/solana-falls-below-40-as-network-suffers-another-outage\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-02T10:20:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-02T13:53:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/image_2022-06-02_151229330.png\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"378\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/solana-falls-below-40-as-network-suffers-another-outage\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/solana-falls-below-40-as-network-suffers-another-outage\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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