Solana has two power outages in a month, causing prices to plummet

vv181

legendary

Activity: 1932

Merit: 1273

This won't go well if the Solana network keeps getting halted. And those who still believe in the project should not tolerate any further concern regarding how the network behaves. Even if they say the network is still "Mainnet Beta", that makes it safe to assume there is something wrong regarding how the developments process going thoroughly.

Quote from: PrivacyG on June 03, 2022, 06:34:07 PM

Does Solana have just one validator up and running? Is this thing then not centralized?

Around ~1774[1]. But I bet one hardly at all want to run as validators, noting how the hardware requirement is: https://docs.solana.com/running-validator/validator-reqs#hardware-recommendations

Code:

Hardware Recommendations#

    CPU
        12 cores / 24 threads, or more
        2.8GHz, or faster
        AVX2 instruction support (to use official release binaries, self-compile otherwise)
        Support for AVX512f and/or SHA-NI instructions is helpful
        The AMD Zen3 series is popular with the validator community
    RAM
        128GB, or more
        Motherboard with 256GB capacity suggested
    Disk
        PCIe Gen3 x4 NVME SSD, or better
        Accounts: 500GB, or larger. High TBW (Total Bytes Written)
        Ledger: 1TB or larger. High TBW suggested
        OS: (Optional) 500GB, or larger. SATA OK
        The OS may be installed on the ledger disk, though testing has shown better performance with the ledger on its own disk
        Accounts and ledger can be stored on the same disk, however due to high IOPS, this is not recommended
        The Samsung 970 and 980 Pro series SSDs are popular with the validator community

[1] https://solana.com/validators

Johnyz

full member

Activity: 2086

Merit: 193

Quote from: X-ray on June 04, 2022, 07:13:38 AM

Yeah, The price plunged caused by this. if this is always happening and im sure that if solana will be dead as soon as possible. it's not caused by the algorithmic problem but it will be caused by people are starting to distrust this blockchain. We do know that how good the reputation of solana but this is will be destroying this blockchain in long term, people didn't believe anymore with this blockchain and they will be walking to the another blockchain.
They need a blockchain that will be very stable to make them feel convenience.

The second time around means something is bad on the system and that problem needs to be address right away because you're correct, people and developer will look for a more suitable blockchain technology that don't have this kind of outages so they can have a good system on their platform, if SOL continues to be like this then it will be useless to use this blokchain since small investors will always go for the best option.

X-ray

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Yeah, The price plunged caused by this. if this is always happening and im sure that if solana will be dead as soon as possible. it's not caused by the algorithmic problem but it will be caused by people are starting to distrust this blockchain. We do know that how good the reputation of solana but this is will be destroying this blockchain in long term, people didn't believe anymore with this blockchain and they will be walking to the another blockchain.
They need a blockchain that will be very stable to make them feel convenience.

PrivacyG

legendary

Activity: 882

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Crypto Swap Exchange

Quote from: Bitcoin_Arena on June 03, 2022, 06:59:38 PM

I am one of the people who do not like the idea of Ethereum switching to POS. It's bullshit and might cost Ethereum a lot in terms of decentralization.

Maybe that is actually the idea behind the move. I am sure governments will be so much happier when they know there is just one single point of failure in case they do not like something about the coin.

It might be time to finally start defining a clear separating line between actual DeFi and coins pretending to be decentralized and help decentralization. It is getting so stupid. Also, food for thought. How come all of these coins are getting wrecked all of a sudden during the bearish market? What if it is a coordinated attack of some sort, something significant seems to go down every time the market shows a very small sign of recovery.

-
Regards,
PrivacyG

Jackl87

sr. member

Activity: 1722

Merit: 269

Quote from: brives887 on June 02, 2022, 06:04:09 AM

The validator on the network did not process the new block for several hours. As a result, applications built on Solana's blockchain are now offline.

I don't own any Solana myself sadly, therefore i don't follow the developments around Solana that closely to be honest. Still i also had the news about the recent outages of the Solana blockchain in the news feed of my social media accounts.
I am also not really an IT expert but for me it is a pretty concerning thing, if a blockchain completely breaks down twice in only 1 month. So i am pretty surprised that the price of Solana stays relatively stable despite this news.

Bitcoin_Arena

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฿itcoin for all, All for ฿itcoin.

I always laugh out so hard when I hear the so-called pretenders like Solana, or LUNA claiming to be the next Ethereum killers but then end up having a big fail Grin

I remember the likes of NEO and TRON tried to dethrone Ethereum network, but they too failed. This is the same story with a new generation of shitcoins like Luna. This goes to show how solid Ethereum has been despite gas issues. I am one of the people who do not like the idea of Ethereum switching to POS. It's bullshit and might cost Ethereum a lot in terms of decentralization.

PrivacyG

legendary

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Crypto Swap Exchange

Does Solana have just one validator up and running? Is this thing then not centralized?

You see, this is what I hate about most of the popular coins of today. They can get wrecked by algorithms, outages and all other sorts of issues and threats. They promote a false definition of Decentralization. We have 'DeFi' on a coin that can literally go offline for hours long. This can not happen with the decentralized coins, can it? Or am I missing something?

-
Regards,
PrivacyG

KennyR

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DGbet.fun - Crypto Sportsbook

Solana is praised to be the ethereum killer while reaching the market based on its processing of transactions. Solana process far higher number of transactions than the ethereum, but this outages will be a big blow for the platform. In several discussions it is said that solana will takeover the popularity of ethereum, but ethereum won't allow it to happen if this is how the network performs. Even Sam Bankman Fried, FTX founder stated solana has the ability to scale to the mass adoption level of bitcoin. For now everything is a question mark.

Twinkledoe

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Quote from: cryptomaniac_xxx on June 03, 2022, 05:48:55 PM

Perhaps as SOL network grow bigger, this kind of thing can't be avoided. But they should have learn their lessons in this kind of outages and fix the bugs whether it's software or hardware as they can't afford this kind of downtime. Uptime should be at least 99.99% or almost perfect. So this is not good for them in the long run, and maybe their validators might left them for good and so the price could suffer as well in the future.

If they are aiming for larger audience, they should be ready to accommodate higher number of transactions. I am seeing that SOL network is being included in a lot of trading platforms already, so it is getting busy these days. They need to resolve these kind of issues as fast as they can, because they are building their integrity to the community. If this will happen very often, some may have hesitations to use their network.

cryptomaniac_xxx

hero member

Activity: 1344

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Perhaps as SOL network grow bigger, this kind of thing can't be avoided. But they should have learn their lessons in this kind of outages and fix the bugs whether it's software or hardware as they can't afford this kind of downtime. Uptime should be at least 99.99% or almost perfect. So this is not good for them in the long run, and maybe their validators might left them for good and so the price could suffer as well in the future.

livingfree

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Yeah, this was the second time that we've seen them have this outage.

Did the devs do nothing upon experiencing the first outage? Because they should have done something to prevent this to happen for the 2nd time and if another time happens again for the 3rd time halting the network.

I guess even if many are too optimistic with sol, this is going to make them leave and they have enough reasons to dump it. Undecided

mu_enrico

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Activity: 2324

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Solana's price should be 0 because it doesn't work. I think I've read similar news about Solana network down, offline, problem, for every few weeks (probably every month). It's not an interesting news and not funny anymore Cheesy

This coin is the 2nd dumbest thing since LUNA & LUNAC.

GreatArkansas

legendary

Activity: 2534

Merit: 1397

It's just sad that a lot of projects were affected during this outage on Solana, especially some projects that are quality, that are just built under Solana are affected. If you take a look, their price is also affected when Solana's issue started or when Solana's price was also dumped.
I thought before this will not happen again.

Takyeon

member

Activity: 63

Merit: 10

I am the type that doesn't expect perfection out of the box, solana is trying honestly I am not a fan or a holder but I believe in mistakes more than solutions, if a mistake never existed where will correction comes from? In the case of crypto everything is different, there will always be fixes after fixes and this is the way.

Ideas can never be the same.
Team members are pro than the other.

bittick

hero member

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Cryptocasino.com

People are so dumb keep using this shit. A platform that being hyped by the whales. This blockchain is down, down and down again. Dev said everything already solved but this keeps down anytime. How garbage this blockchain is. This is different with AVAX that never faces this problem. This blockchain is overrated. I hope that people will realize this. I know that this has a very cheap blockchain but if it gets shutdown anytime and people can't do something with their asset.

brives887

newbie

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The validator on the network did not process the new block for several hours. As a result, applications built on Solana's blockchain are now offline.

In recent years, Solana has been the focus of attention in the NFT and DeFi ecosystems because it is cheaper and faster to use than Ethereum. According to the website, the blockchain processes 50,000 transactions per second and the average cost per transaction is $ 0.00025. Ethereum can only process about 13 transactions per second, and transaction fees are significantly higher than Solana.

However, the blockchain network was hit by multiple obstacles, and a compromise was revealed in the last year and a half. Most recently, on May 1, Solana was down for a few hours and then brought back online as well after a restart of the validator network.

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