Solana, a rival blockchain network to Ethereum (ETH), went down on the evening of Tuesday (Hong Kong Time). Production of new blocks on the Solana stopped, denying all transactions on the blockchain. According to the Solana team, the blockchain has been down due to “resource exhaustion”. On the afternoon of Wednesday, engineers succeeded in restoring across Solana’s network.
The Solana blockchain has recently increased in popularity due to the surge in DeFi applications and NFT projects. However, the uprising blockchain network was down on Tuesday night, and stopped producing new blocks.
Larry Cermak, Director of Research at crypto media The Block reveals the issue via his Twitter. He believes the root cause is the abrupt surge in transactions on Raydium during the initial DEX offering (IDO) of the Grape Protocol. Thereby, some validators of the Solana blockchain ran out of RAM.
Raydium is a decentralized exchange (DEX) and liquidity provider on the Solana blockchain.
400,000 TPS Flooding Solana Blockchain During Raydium IDO
Solana’s official Twitter (“Solana Status”) reveals that Solana’s mainnet beta encounters a large increase in transaction load which peaked at 400,000 TPS (transaction per second).
“These transactions flooded the transaction processing queue, and lack of prioritization of network-critical messaging caused the network to start forking.” Then, the problem leads to a “resource exhaustion” of the storage memory of the nodes on the network. Thereby, that causes the denial of service.
Anatoly Yakovenko, Solana Labs CEO reveals on Twitter the main reason for the blockchain downtime. “Bots during a raydium IDO are flooding the network at 300k transactions per second.” Also, he called for network validators to join Solana’s official Discord server to coordinate the potential response.
With engineers racing to restore service, Solana announces that all Solana’s blockchain validators came back online on Wednesday afternoon. After being down for more than half a day, the high-speed blockchain succeeds to implement a network patch and restores service.
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