According to data Solana Explorer, around 2:00 AM ET today, the network was only processing 93 transactions per second (TPS), well below the usual 5,000 TPS. Due to a sharp drop in throughput, Solana users have lost the ability to conduct transactions and transfers in their usual mode.
The manager of staking service Solana, under the pseudonym SolBlaze, told CoinDesk that the network continues to validate blocks, but the validators are at risk of running out of memory until the root cause of the failure is determined.
In a Discord channel set up to coordinate action, Solana’s validators and engineers are discussing a range of options, including a potential network restart or software downgrade. However, so far the participants in the discussion have not been able to reach a consensus.
Earlier, the Solana project team announced the closure of Solana Spaces branded offline stores in New York and Miami due to their low popularity.
Source: Bits
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