The Solana team has revealed the reasons for the massive network outage on September 14th.
According to preliminary results of the investigation, the network was subjected to a large-scale DDoS attack. According to the developers, when the IDO of the Grape protocol was launched on the decentralized exchange Raydium, bots generated a huge number of spam transactions and flooded the network with them. As a result, the blockchain was overloaded, and transaction processing and the release of new blocks stopped for 17 hours.
To correct the situation, the validators carried out a network update and restored the production of blocks.
After diagnosing the problem, a hard fork was proposed from the last confirmed slot
Against the background of the failure, the token rate Sol fell to $140, after which it tried to return to its previous values. The altcoin is currently trading in the range of $143.
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