The crypto market was drowning in red last Friday, but it appears that was the least of Solana’s worries as the network suffered yet another outage, causing users and traders to panic. This isn’t the first time the Solana network has experienced a hiccup.
It has experienced this issue several times throughout the last couple of months. This is the second outage for January 2022 alone, but unlike the other times, this outage lasted a whopping 48 hours.
The team behind Solana initially noticed the issue on Friday, saying:
It took the team 24 hours before they could pinpoint the cause of the hiccup. On Saturday, Solana revealed that “excessive duplicate transactions” due to bots were the cause of the issue. The hiccup was officially resolved only today, on Sunday, after the release of v1.8.14, which reportedly diminished “the worst effects of the issue.”
Solana Is Receiving Mocking Remarks
Unfortunately, this recent outage only provided developers and non-Solana users another reason to mock the network.
Another day, another 48 hour #Solana outage.
This is like the sixth time this has happened in 3 months.
I have zero faith in it now. It is the new EOS.
The fight is now between ETH, BSC, Fantom, Avalanche and Terra.
— Mark Jeffrey (@markjeffrey) January 23, 2022
https://twitter.com/HighCoinviction/status/1484976175076323329?s=20
Even though the network has since resolved the issue, Solana’s DeFi users were left with hefty liquidations during the 48-hour outage. You see, the outage took place at the worst possible moment in the crypto market, as many prices took a plunge and liquidation was drawing closer and closer. Users needed to top up their balance to avoid that from happening.
Unfortunately, Solana users who took out loans during the outage couldn’t save their assets when the market drowned in red due to congestion. A massive liquidation took place, and users had no choice except to count their losses.
Can we all admit @solana has been down now for about ~48 hours?
Tried over 100 times to repay a Solend loan, failed.
Couldn't even send a friend some USDC for dinner with @phantom.It's times like these that make you appreciate Bitcoin's fee markets.
— Zain Allarakhia (@zallarak) January 22, 2022
https://twitter.com/willl_speaks/status/1484842030937395202?s=20
