Solana mainnet-beta is currently unstable
The Solana mainnet-beta has been experiencing intermittent instability for the past two hours. This was reported by Solana Status, a Twitter account dedicated to providing updates on the Solana network.
According to the tweet, engineers are currently looking into the problem to determine how they can fix it. The network is now down for more than two hours, with users reporting difficulties with their transactions.
The Block's Larry Cermak pointed out that the network is now down for a while. He said, "Actually never mind, it's been down for much longer. The timer on Solana Beach is actually just broken. Looks like down for almost 2 hours now."
Solana users are experiencing difficulties
The network instability has caused several Solana users to report difficulties in carrying out transactions on the blockchain. A user reported that his funds had been stuck after attempting to transfer money from ETH to SOL.Cermak attributed the instability to an upcoming IDO on the Solana network. The high demand for the IDO could have caused the outage.
SOL is up by 4% over the past 24 hours despite the ongoing challenges with the Solana network. It is currently the seventh-largest cryptocurrency by market cap.
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