The Solana network experienced a 7-hour outage at 20:00 UTC caused by an onslaught of bots attempting to mint NFTs. Solana developers and engineers said traffic hit a record high at 4 million transactions per second. In addition, it will significantly surpass all other previous highs in terms of transactions on the blockchain per second.
Today the validators completed a cluster restart and the Solana blockchain was running slow in the morning. The reason is that it takes a while for each node to come back online.
Solana has now climbed the crypto ranks and is in the top 10 in terms of market cap. The blockchain also naturally has the second-highest NFT volume alongside Ethereum.
Solana Blockchain is fighting against the significant influx of bots
Solana has had server issues before, one in January lasted 18 hours. Both times the blockchain crashed, it was due to a massive influx of NFT bots. If Solana goes under, that’s not ideal for Solana NFT traders as they can’t buy and sell anything.
After the recent blackout, Solana fell 7.4% overnight. Solana co-founder Anatoly Yakovenko applauded the network’s validators for the speedy recovery.
Solana’s recent blackout reinforces why it is unlikely to ever take over Ethereum in terms of NFT size and volume. ETH will continue to dominate as more and more users lose confidence after such an event. All in all, Solana has been doing very well lately and is enjoying their biggest volume ever. This is a positive takeaway from the recent blockchain outage.