Solana Network Crashes Again, Is SOL Price Affected?

    The endpoints of RPC (Remote Procedure Call) operated by the Solana Foundation are currently unavailable.

    The RPC endpoints that help crypto wallets and apps connect to the blockchain have gone offline due to a bug in the 1.14 Solana Validator beta. RPC is a network engineering model, which is a method of communication between two processes, helping programmers to interact easily with the blockchain network.

    Here is the announcement from Solana:

    The tweet clarified that the incident did not affect Solana’s ability to generate new blocks, unlike previous outages. Other RPCs provided by Triton, QuickNode and Alchemy are still working properly.

    Austin Federa, head of strategy and communications for the Solana Foundation, added:

    This is the first time Solana has encountered an issue in 2023, but in 2022, there have been no less than 5 times when the Solana network crashed. Most of these outages are due to poor resistance to spam bots, which overloads transactions.

    Most recently, more than 1,000 nodes were disconnected because of being blocked by a cloud service provider, causing over 22% of SOL staking to not receive transaction confirmation rewards. The worst incident is probably in May 2022, as the network crashed for 8.5 hours, behind the record of 18 hours in August 2021.

    The above incident seems not to impact negatively SOL price. It even increased by more than 17% in the last 24 hours, following the general correction of the whole market in the morning of January 9.

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