The Solana network was down for 48 hours again, but this time users who took loans had to pay the price due to heavy liquidations.
While the crypto market was in free fall on Friday, Solana (SOL) experienced another network outage, causing panic among traders and DeFi users across the crypto community.
Solana Network Outage for 48 Hours
The Solana network has been plagued by problems in recent months, with this being the second incident in January. However, unlike previous instances, the most recent outage lasted approximately 48 hours.
The hiccup was first noticed by the Solana team on Friday, January 21, 2022, around 00:00 UTC.
"The mainnet-beta cluster is experiencing some performance degradation, which we are currently investigating," the team wrote.
The team spent more than 24 hours investigating before determining the cause on Saturday at 17:55 UTC.
The issue was caused by "excessive duplicate transactions" performed by bots, according to the brief report on the Solana Status page.
The problem was resolved today on January 23, at approximately 16:19 UTC, following the release and adoption of v1.8.14, which was designed to "mitigate the worst effects of the issue."
"These upcoming releases are aimed at improving the network's state, with additional improvements expected to roll out in the next 8-12 weeks." "Many of these features are currently live on Testnet and being rigorously tested," the team added.
The recent Solana network outage provided another opportunity for developers and non-Solana supporters to mock the ostensible Ethereum killer.
According to HarperCollins author Mark Jeffery, Solana is already out of the running for the winning blockchain of the future due to persistent network outages.