Solana and Arbitrum knocked offline, while Ethereum evades attack

Solana's validators are preparing a new release after the network was brought down by a sudden surge in transaction volume, while Ethereum evaded a malicious assault.

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Solana and Arbitrum knocked offline, while Ethereum evades attack

Surging Ethereum rival, Solana (SOL), has shed 15% of its value over the by 24 hours after suffering a deprival-of-service disruption.

On Tuesday at 12:38 pm UTC, Twitter account Solana Condition announced that Solana'due south mainnet beta had been suffering intermittent instability over a 45-minute menses.

Six hours after announcing the incident, Solana Status explained that a big increment in transaction load to 400,000 per second had overwhelmed the network, created a deprival-of-service, and caused the network to start forking.

1/ Solana Mainnet Beta encountered a big increase in transaction load which peaked at 400,000 TPS. These transactions flooded the transaction processing queue, and lack of prioritization of network-critical messaging acquired the network to offset forking.
— Solana Status (@SolanaStatus) September 14, 2022

With Solana's engineers unable to stabilize the network, its validator community opted to coordinate a restart of the network. Solana's community is currently preparing a new release, with further information expected to exist released soon.

The incident has knocked confidence in Solana, with prices falling by fifteen% in 12 hours. While SOL had already retraced from its all-time loftier of $215 on Th to trade below $175 prior to the incident, news of the outage rapidly saw prices slide downward to $145.

Solana is not the but high-profile crypto network to have suffered downtime on Tuesday, with Ethereum layer-2 rollup network Arbitrum One reporting its sequencer had gone offline for roughly 45 minutes.

While Arbitrum One emphasized that user funds "were never at risk," new transactions could not be submitted during the period. Offchain Labs, the team edifice Arbitrum I, also highlighted that its network is yet in beta and warned that "further outages are possible in these early on days."

Lol, WTF is going on today? $sol goes offline for a few hours#arbitrum goes down for almost an hour#ethereum got attacked (unsuccessfully)
— Distraction Davis (@TheCryptoLark) September xv, 2022

The team attributes the downtime to a "bug causing the sequencer to get stuck" later on a very big batch of transactions were submitted to the Arbitrum sequencer over a short period of time.

Related: Arbitrum's TVL surges to $ane.5B as DeFi degens ape into ArbiNYAN

And if that wasn't plenty drama for i 24-hour interval, an unknown entity also unsuccessfully sought to assail Ethereum, with programmer Marius van der Wijden flagging the failed incident on Twitter.

According to the programmer, only a small number of Nethermind nodes were tricked into switching to the invalid chain, with all other clients having "rejected the long sidechain as invalid." All affected nodes have since reorganized back to the correct chain.