Popular altcoin projects Solana and Arbitrum are facing major network issues.
- Solana experiences “intermittent instability” for the second time in 12 days.
- Arbitrum also recently experienced a temporary outage.
- Arbitrum fixed their problems after 48 minutes, while Solana’s problem took hours.
The Solana Foundation reported that the high-throughput blockchain is experiencing “intermittent instability” earlier today. Meanwhile, Ethereum Layer 2 solution Arbitrum also suffered an outage. Details cryptocoin.com We have compiled for you as…
Popular altcoin projects Solana and Arbitrum recently crashed
Solana and Arbitrum recently crashed. Solana Status, a Twitter page run by the Solana Foundation, posted an update on Tuesday stating that the issue had persisted for 45 minutes. Solana Status released the following statement:
Solana mainnet-beta is experiencing intermittent instability. This started about 45 minutes ago and engineers are investigating the issue.
The team added that resource exhaustion was causing denial of service and engineers were looking for a solution. “Verifiers are gearing up for a possible reboot if needed,” the announcement said. it was said.
Data from SolScan shows the last block was processed three hours ago
Data from SolScan, a popular block explorer for Solana, shows that the last block on the network was processed about three hours ago. Many users also reported that their funds were stuck as a result of the incident. Phantom, a popular Solana-based wallet, has confirmed that it is “having trouble connecting” along with other apps.
Billing itself as a high-throughput Blockchain, Solana has faced other performance issues in recent weeks. On September 2, Solana Status posted a similar message that the network is experiencing “intermittent instability” as a result of performance degradation. The issue reduced throughput on the network and reportedly lasted about 62 minutes.
Team: We are currently experiencing an outage on Arbitrum One
Popular altcoin Solana’s SOL token took a dip around the time the problems started, dropping as low as $143. It has since rebounded slightly and is trading at $164 at press time. Following Solana’s update, Ethereum Layer 2 solution Arbitrum reported that the Arbitrum One mainnet was down. They explained the following on the subject:
We are currently experiencing an outage in Arbitrum One. Our team is working on it and we will post updates here.
Arbitrum was launched on August 31 and has since welcomed many of Ethereum’s leading DeFi projects. On Monday, Curve Finance went live on the network, with the total value locked to over $2 billion. Arbitrum aims to help Ethereum scale by leveraging Optimistic Rollups to lower fees. Although Arbitrum released an update 48 minutes after its initial tweet confirming that the network was restored, the root cause of the problem is currently unclear.
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