Solana blockchain has halted, according to reports on social media, crypto forums, onchain analytics, and the Solana Status Twitter account. Solana mainnet-beta was down for four hours and is currently offline due to a technical issue.
Solana (SOL) just entered the top ten crypto assets in terms of market capitalization, and it now has the seventh-largest market cap.
It is currently trading at $159 a unit and has been down 2.8% in the previous week.
“Most Solana nodes, including validation nodes, have experienced an OOM error due to tx overload. The network is now halted, and engineers on the team as well as the node operator community are trying to resolve the issue. If a restart is required, validators are prepared.”
Lido Finance also directed its Twitter followers to the ‘Solana Status' Twitter account for further information.
In a pinned Tweet, the Solana Status account stated, "Solana mainnet-beta is experiencing occasional difficulties. This started around 45 minutes ago, and engineers are looking into it.”
According to some, the repair might take anywhere from 24 to 48 hours. “With transactions being screened and commits failing, validators must update and deploy...
It will take around 24-48 hours to fix,” stated the Twitter account 'bruce.codes.'
"Engineers are trying to resolve a denial of service caused by network resource depletion. Validators are ready for a possible restart if one is required."
Solana has been added to the list of networks that have halted due to a lack of block production.