Solana and Ethereum suffer thanks to NFT mints from interruptions at the weekend

Solana and Ethereum suffer thanks to NFT mints from interruptions at the weekend

The two outstanding smart-Contract platforms had performance problems on Saturday after high traffic requirements from NFTS transactions temporarily brought to a standstill.

The Solana blockchain stopped-again-and had to be restarted. Ethereum continued unabated, but the cost of block space rose to a level that has not been seen since 2020.

While the immediate cause of the failures was the same - high data traffic - the source of demand and the reaction of each network were quite different.

Solana was completely offline for about 8 hours - no blocks were produced status.solana.com re -recording only after network validators carried out a "cluster-neustart".

The failure was due to an extreme overload due to activities of specialized bots or automated software programs that attempted to "blindly shape" NFTs (non -fungible tokens) and immediately resell them to secondary sleeves. The data traffic became so intense that the network suffered a collapse of the consensus - a cascade effect that ultimately brought the blockchain to a standstill

"Restarts are incredibly frustrating, time-consuming and annoying for SOL supporters, investors and everyone involved. All in all, things went remarkably well, but it is never a desirable situation. href = "https://twitter.com/laine_sa_/status/152077854287361?s=20&t=tprsjdcfiixq9a-kxvabvw"> tweeted a Solana-Validator approved by Anatoly Yakovenko, co -founder of Solana Labs.

Most of these transactions came via Metablex, whose Correction machine Tool on the Solana-based NFT project To bring market, according to the group . In response to this, Metablex raises a first fee of 0.01 SOL to prevent bots from effectively spotting the network when testing MINT.

Solana itself is currently missing a fee market to control spam or sudden traffic tips, although one was available repeated last month.

Solana also suffered great failures in January 2022 for similar reasons, but with arbitrage- and Liquidation Bots Nft flippers. In contrast to this incident and a 10-hour failure in September 2021, the price of Solanas Sol-Token remained relatively intact, was temporarily fell by about 9 % and is now traded for $ 88.16 per block works collected.

Ethereum never stops, but it will be expensive

The Ethereum network has had an almost perfect operating time balance since its foundation, but times of high demand, the blockchain can make it costly due to extreme tips in transaction fees. This happened when the latest NFT project by Yuga Labs-a virtual sale inspired by the Bored Ape Yacht Club-called Other page -started.

The company called it "Much times the biggest NFT coin in history." From Monday there are over 95,000 plots of NFTS on the NFT-Marktplatz OpenSea with a minimum price of 4.2 ether or about 11.700 $

Potential landowners in the meta-verse project-which is not yet available-had to qualify for a whitelist, including registration for know-your-customer purposes (KYC), and were limited to two NFTs each. But when they tried to get your swaths of virtual real estate, the gas fees in the Ethereum-Mainet shot up to 8.600 temporarily go to the thousands of dollars.

The Ethereum's fee market is based on supply and demand, but its Maximum throughput is about 13 transactions per second, which the protocol is susceptible to Extreme tips.

"Of course, gas optimizations are only part of the equation. You need a better coin mechanism design ... money that is spent on gasoline is money that could go to builders", Papper said on Twitter after the event.

More than $ 64,078 ETH, around $ 180 million, were issued during the NFT coin, Show data from Etherscan . Due to the Ethereum upgrade EIP-1559 last year, the amount of burned Ether on May 1st shows a corresponding jump.

Source: ethburned.info