Solana was down for several hours

[worle1bm]

Why are you people worry about the price of Solana? Did you recently bought it? Bitcoin might have another upcoming crash so expect the unexpected. It might have another correction sooner. Thus it might affect the price of Solana. Condition your self that price might crash again. So better close the exchange site and simply HODL.

If you read his post, he define it as "flying superstar of crypto space", and obviously the price is soaring. So if you are a bagholder you will definitely be alarm as to what happen to the network itself.

And even if you are not a bagholder, it will caught your attention, as everyone here is somewhat connected. Unless you are a bitcoin or ethereum maximalist, then you don't care about what's going on the crypto space.

This kind of news creates a chit chat situation among the Market and people who hold it or don't wants to talk about it so it's normal thing as Solana was skyrocketing in prices within few months and was doing good but suddenly the blockchain went offline and the network has to be rebooted then it's kind of surprise as it was considered one of the best blockchain.But things are getting normal and the prices are slightly increasing also.

[Sweetbtc]

Solana and Cardano will end up being the affordable platforms of choice for people trading video game weapons and pics of pickles smoking joints.

The grownups will use Ethereum for all the important stuff.

[dogtana]

And it is centralised, who wants this vapourware 

[Galley]

Why are you people worry about the price of Solana? Did you recently bought it? Bitcoin might have another upcoming crash so expect the unexpected. It might have another correction sooner. Thus it might affect the price of Solana. Condition your self that price might crash again. So better close the exchange site and simply HODL.

If you read his post, he define it as "flying superstar of crypto space", and obviously the price is soaring. So if you are a bagholder you will definitely be alarm as to what happen to the network itself.

And even if you are not a bagholder, it will caught your attention, as everyone here is somewhat connected. Unless you are a bitcoin or ethereum maximalist, then you don't care about what's going on the crypto space.

This kind of news creates a chit chat situation among the Market and people who hold it or don't wants to talk about it so it's normal thing as Solana was skyrocketing in prices within few months and was doing good but suddenly the blockchain went offline and the network has to be rebooted then it's kind of surprise as it was considered one of the best blockchain.But things are getting normal and the prices are slightly increasing also.

Such news can have some consequences for the untrained human brain. After the rapid growth, the blockchain suddenly breaks down. What can you think? What if it’s some kind of global fraudulent scheme came into play. We've seen so much already. And suddenly it happened. Nobody wants to lose their money.

[akeegan]

what a joke. This would never happen to Bitcoin

[marine4u]

This was an unfortunate incident for SOL, it resulted in 250 million being badly liquidated. Not only Sol, the Arbitrum network also encountered problems when the error showed offline status and even Ethereum was attacked. I don't think there are any parallels when it comes to intraday events for altcoins.
Sol price is back today but it looks like it will come with cracks before stabilizing again.

Detail from @SolanaStatus: https://twitter.com/SolanaStatus/status/1437856638279487493?s=20

[mbakruroh]

~

I think Solana's current blockchain system is still running smoothly, despite the bottlenecks or overloads of the blockchain system. But I think Solana will be the best alternative going forward in the future blockchain system. The increase in users of the Solana blockchain system is currently getting higher which makes the system must be improved.

[teosanru]

It appears the new flying superstars of the cryptospace has landed on the ground with a few wounds and scratches hehehe. This might not greatly affect the Solana ecosystem market, however, this is a red mark on their report card. According to Solana Status, the network is being manually restarted and presently has 42% of the validators online. Solana blockchain requires 80%.



The network underpinning one of this year’s fastest-rising cryptocurrencies is having problems validating transactions, according to a Twitter account run by the Solana project.

The issue stemmed from “resource exhaustion” in the network that caused denial of service, one tweet from the Solana Status account said over eight hours ago. Third parties that validate transactions on the blockchain elected to coordinate a restart of the network and are preparing a new release, the developer team said later in a statement.  

“It has some interesting technical features, but realistically Solana hasn’t yet been fully tested in a live setting,” said Strah Savic, head of data and analytics at FRNT Financial. “What we are likely seeing is the experimental nature of blockchain tech playing out.”

Read in full https://www.bloomberg.com/news/articles/2021-09-14/blockchain-underlying-red-hot-crypto-solana-hits-processing-snag

What I have read is that due to excessive users giving out transactions for the IDO of grape protocol, the transactions in the meme pool exceeded the normal transactions and the size of these transactions went way up, the validators who are required to use 128 gigs of RAM to validate transactions on the SOL chain had to plug in their additional hard drives to complete the task which too got full due to an excessive number of transactions, this was when the validators decided to switch off their Nodes which led to this breakdown, SOL team later updated the version with a bug fix and ensured the chain moves smoothly.

[raji1995naya]

This is why, despite the fact that I was unable to withdraw my Solana on Binance the other day due to the outage, I still consider Solana to be a very promising project and one of Ethereum's closest competitors.  I expect Solana to have another massive pump in the coming months.

[Rigon]

 The SOL token pumped a lot for a while. There I bought and invested at a high price. I bought and hold each token for 208$. But now it has decreased a lot.Today it has decreased a lot in a short time.However, this token will be recovered very soon.

[RiskySanchez]

The SOL token pumped a lot for a while. There I bought and invested at a high price. I bought and hold each token for 208$. But now it has decreased a lot.Today it has decreased a lot in a short time.However, this token will be recovered very soon.

I think the SOL token for this year will only reach a maximum of $214 USD due to the current unsupportive market factor which looks bearish for the next 1-2 months. Solana's project is already strong enough in developing this technology, it just takes time for the SOL to be pumped again

[firesurfer]

The technical problem of Solana network is that it is very difficult to operate a node, people need equipment with powerful configuration. I saw the problem before looking at the 'Proof of history' consensus method. It is really recursive and makes the blockchain more and more heavy.

[gabbie2010]

don't worry about solana dropping.  this may be influenced by the decreasing price of BTC.  the most important thing is to always monitor your solana coins.  because solana coin is great, this correction is only temporary and solana will slowly recover

It like after the price of Solana dropped few days ago after it attained ATM at $216 while it was on the verge of resuming it bullish run then Bitcoin dumped massively which started yesterday consequently culminated to almost all the altcoins dumping too including Solana which had earlier started to trend bullish, I believe after this price correction, hopefully Solana would resume it earlier bullish sentiment and recover, thus another opportunity to buy at dip and accumulate

[7788bitcoin]

It appears the new flying superstars of the cryptospace has landed on the ground with a few wounds and scratches hehehe. This might not greatly affect the Solana ecosystem market, however, this is a red mark on their report card. According to Solana Status, the network is being manually restarted and presently has 42% of the validators online. Solana blockchain requires 80%.

The wounds are serious but they are holding up in valuation because even when the market corrected a lot in the overall market Solana went down 17% and during a outrage like that the market should crash usually but it is still holding up in valuation which is strange. I am not following their development but this was one of the hottest coins in the market for weeks.

[Scripture]

don't worry about solana dropping.  this may be influenced by the decreasing price of BTC.  the most important thing is to always monitor your solana coins.  because solana coin is great, this correction is only temporary and solana will slowly recover

The market is on a red candle sticks again and that is because of Bitcoins movement so technically, this is just a corrections and this is temporary only. If you really want to make profit have a strong hands to hold, SOL is a great project and for sure, it will recover in time.

[crwth]

Is this because of the spam transaction attack that made the system down? Like it took advantage of the cheap transaction fee and sent out tons of transactions?

I think the system is great when people try to put their work into the network and make NFTs or something. I believe it has the potential to rise higher but it's time who is going to tell what would happen.

[MSN02]

SOL couldn’t deal with all the people using the network. This is why I switched to NEAR because NEAR is ready for mass adoption. I found the project during the bull run and it’s charts are very similar to SOL charts before it blew up, this is why I looked into it. NEAR has a world class team of devs behind it and is backed by top VCs. I personally fell in love with the community and the project when I looked into it further, I definitely recommend giving NEAR a look.

[Jasad]

Solana have bigger community and now best moment to buy back, don't worry solana coin is the best right now with faster recovery and price keep going up, although dump under $130 now have raise up above $140 and keep touch higher price if bitcoin up. I will buy back if have money now for Solana coin maybe today or tomorrow will up again.

[the ghabbar]

It appears the new flying superstars of the cryptospace has landed on the ground with a few wounds and scratches hehehe. This might not greatly affect the Solana ecosystem market, however, this is a red mark on their report card. According to Solana Status, the network is being manually restarted and presently has 42% of the validators online. Solana blockchain requires 80%.



The network underpinning one of this year’s fastest-rising cryptocurrencies is having problems validating transactions, according to a Twitter account run by the Solana project.

The issue stemmed from “resource exhaustion” in the network that caused denial of service, one tweet from the Solana Status account said over eight hours ago. Third parties that validate transactions on the blockchain elected to coordinate a restart of the network and are preparing a new release, the developer team said later in a statement.  

“It has some interesting technical features, but realistically Solana hasn’t yet been fully tested in a live setting,” said Strah Savic, head of data and analytics at FRNT Financial. “What we are likely seeing is the experimental nature of blockchain tech playing out.”

Read in full https://www.bloomberg.com/news/articles/2021-09-14/blockchain-underlying-red-hot-crypto-solana-hits-processing-snag

The solana ecosystem is currently starting to develop, after going through some difficult times in the market, with a lot of correction happening for the coin as a whole, it is necessary to upgrade some of the existing solana network, so the red flags in the report may be disappearing slowly, the current 20% support is quite affecting solana developing in the future, with many considerations that will have a good impact in the future, I think solana has a good chance in the future, just waiting for the right time and moment.

[GreatArkansas]

Solana have bigger community and now best moment to buy back, don't worry solana coin is the best right now with faster recovery and price keep going up, although dump under $130 now have raise up above $140 and keep touch higher price if bitcoin up. I will buy back if have money now for Solana coin maybe today or tomorrow will up again.

Yep, the community of Solana tested with these recent downtimes of Solana ecosystem, as validators agreed to restart, a lot of people telling that the community was superb even the founder of Solana.
I believe that what happened on Solana recently will make the ecosystem stronger.

And the reason I think of the downtime was the bot on Raydium, as I saw one of the tweets of the Anatoly, fonder of Solana.