Another Blockchain Overwhelmed by NFT Transactions as Solana Crashes Outright

When it comes to processing transactions on a blockchain, scalability isn't everything. That's the biggest takeaway from the crash that knocked the Solana blockchain offline for seven hours.

Timeline of Solana

Within the crypto space, the gaming industry has found a niche that is now expanding to mainstream investors as well. This has given rise to blockchain gaming which, after gaining the attention of Venture Capitalists, is now stretching itself out to cater to the more crypto-centric audience.

Solana SOL/USD is a public, open-source blockchain network that supports smart contracts, as well as non-fungible tokens (NFTs). The SOL token is the native cryptocurrency token used throughout the Solana ecosystem. The token can pass to nodes within the Solana cluster in exchange for the procedure of running on-chain programs or validating their output. Solana's The post Can Solana get back up to speed after its network outage? appeared first on Invezz.

The Solana network has suffered its seventh outage this year as bots took down the network over the weekend. The often dubbed “Ethereum killer” has itself been killed several times this year.

Over the last weekend, the Solana blockchain network suffered a major outage for 7 hours knocking off validators out of the PoS consensus and halting the block production. This happened as the bots managed to exploit the Solana-based NFT project Candy Machine.

The Solana blockchain went offline for seven hours on Saturday evening following a bot attack that flooded the network. The post What now for Solana following ‘Candy Machine' spam attack?

The persisting problem of the network outages on Solana has left investors annoyed and frustrated. Still, the larger impact this problem can have is completely overlooked at the moment.

Okay Bears NFTs are the first Solana-powered NFT collection to achieve 24-hour sales records on the world's largest NFT marketplace, OpenSea. This is not only a significant milestone for the collection, but also a celebration of the entire Solana blockchain.

January has been a tough month for Solana as the coin encountered a total of six outages. This time Solana again faced a downtime as there has been an increased number of transactions flooded by the Candy Machin NFT bots causing network congestion.

After at least 9 days with reported outages so far in 2022, the price of solana (SOL), the 7th largest cryptoasset by market capitalization, does not appear overly affected by the network troubles, with prices for the most part staying rangebound between USD 80 and USD 120 since late January.

The Solana blockchain is back online following a 7-hour interruption due to many bots attempting to generate NFTs on the cryptocurrency network. Late Saturday, an NFT casting application for Solana known as Candy Machine suffered under a deluge of load from bots attempting to force actions, making Solana's mainnet go down.