UPDATE: Solana validators are attempting to restore the network's speed by reverting to older software, a possible fix that could take hours. Restarting the chain is seen as a 'last resort.' realDannyNelson reports
Infrastructure operators on the Solana network rushed to right the struggling blockchain early Saturday after a tech issue throttled users’ ability to trade crypto, transfer assets, or do anything on-chain.
Those tech troubles combined to effectively freeze nearly all on-chain activity on the Solana network. By 02:00, the network was processing about 93 transactions per second , well below the rate near 5000 TPS some 15 minutes prior, according to the data site Solana Explorer. Without a definite bug to squash, some validators began downgrading to the previous version in hopes of reviving Solana’s throughput, said the pseudonymous SolBlaze, who runs a liquid staking pool and is active in developer circles. Later, Solana employees began advocating for the downgrade, too.
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