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Solana confirms that the entire blockchain is down, unable to produce blocks

At around 4:00 a.m. on May 1, blockchain user Solana suddenly found herself unable to make transactions through the world’s sixth largest cryptocurrency network.

After that, Solana’s crash site Solana Status confirmed that the entire blockchain was down, unable to continue producing blocks.

A source at the Solana Foundation said the cause is believed to be bots that flooded the popular NFT minting tool called Candy Machine early Saturday and created an unprecedented ‘wave’ in traffic. network at four million transactions and 100 gigabits of data per second – a record for the network. For reasons that are not yet clear, this group pushed validators out of consensus. Block production became impossible and the network crashed at 4:32 a.m on May 1.

This is not the first time Solana has had a blockchain crash. In September of last year, Solana blockchain also crashed for 17 hours.

The outage has had a big impact on the price of SOL. According to CoinGecko, Solana’s native token fell to a 24-hour low of $83.13, about three hours after the outage before rallying back to $89.