Solana Network Struggles with Tech Issue Causing On-Chain Activity Freeze

Infrastructure operators on the Solana network are working to resolve a tech issue that has throttled users' ability to trade crypto, transfer assets, or conduct any on-chain activity.

The issue began when the blockchain started "forking" and creating conflicting versions of its transaction history at around 00:53 New York time on Saturday. Shortly after, validators' RAM increased, while the chain's transaction throughput dropped dramatically, effectively freezing nearly all on-chain activity.

Although the issue has not been traced to any definite bug, some validators began downgrading to the previous version of Solana's code to revive its throughput. However, it may take hours before a supermajority of validators switch back to the old software and restore Solana's operations.