Yayasan Solana recently released a report on the network slowdown for hours and technical problems that started on Saturday. Blockchain outages again have caused great concern in the community as a major issue occurred during a version upgrade from 1.13 to 1.14.
Solana Status in a tweet on February 27 announced the Solana Mainnet Beta Outage Report to provide details on the reason behind the February 25 outage. Although the cause of the outage is still unknown, the team is actively investigating to find the real cause. The report will be updated periodically as new details become available.
Based on the report, the Solana Mainnet Beta experienced a significant performance degradation at 05:46:16 UTC on February 25. The validation representative took over and restarted the chain with the previous upgrade, returning normal network functionality on Sunday at 01:28 UTC.
The price of Solana has been down for over 20 hours without a single successful transaction. Validating nodes automatically enter vote-only mode, a 'safe mode' designed to help the network recover if data is unavailable.
The validator community collectively agreed with the engineers to downgrade to the previous stable release, v1.13.6, at the same time to reduce risk.
Solana price has fallen to a trading level of $22.76 at the time of writing the string of Mainnet Beta failure issues. This raised concerns among Solana investors.
