Home / Crime News /Solana Network Suffers Another Outage — Cyber Capital Founder Says Downtime Is ‘Another Consequence Of Bad Design’

Solana Network Suffers Another Outage — Cyber Capital Founder Says Downtime Is ‘Another Consequence Of Bad Design’

01 Oct 2022

Russia is preparing to provide Kazakhstan with additional energy needed to operate crypto mining farms in the Central Asian nation. New arrangements will allow Kazakhstan’s miners to buy electricity directly from the Russian power generation and distribution giant Inter RAO.

Crypto mining enterprises operating in Kazakhstan will be able to rely on electricity produced in neighboring Russia to power their energy-hungry hardware. To allow that, the two partnering nations will amend a bilateral agreement governing the coordinated operation of their energy systems.

The government in Moscow has already ordered the necessary changes and begun preparations to organize the supply of power for Kazakhstan’s crypto mining sector, the crypto news page of the Russian business information portal RBC unveiled.

In accordance with the new arrangements, Inter RAO, which holds monopoly on the export and import of electricity in Russia, will be able to sell in Kazakhstan under contracts concluded on commercial terms directly with the mining firms working there.

With its low, subsidized electricity rates, Kazakhstan attracted numerous mining companies after the Chinese government cracked down on the industry last year. The subsequent surge in consumption was blamed for the power shortages and multiple breakdowns of the country’s aging energy infrastructure. In January, Kazakh authorities temporarily shut down around 200 mining facilities.

The state-owned Russian energy giant first started considering additional supplies to Kazakhstan last fall, when the country was expecting its electricity deficit to reach 600 megawatts amid increasing demand during the cold winter months after consumption neared 83 billion kilowatt-hours (kWh) in the first nine months of 2021.

At the time, Inter RAO criticized Kazakhstan for its capped tariffs which the Russian holding said had led to lack of funds for investments in modernizing and upgrading the country’s generation capacities and distribution network. Also, electricity imports were previously restricted in Kazakhstan, unless the national grid operator KEGOC identified a risk of shortages.

Lawmakers in Nur-Sultan have recently proposed a bill aiming to reduce what they describe as “uncontrolled use of electricity by ‘gray’ miners.” The new legislation seeks to reserve the opportunity to mint digital coins only for mining companies registered with the Astana International Financial Center (AIFC). If the law is adopted, foreign entities would only be allowed to mine under contracts with domestically licensed data centers.

Do you think Kazakhstan will be able to solve its problems with power deficit and ensure sufficient electricity supplies for its crypto mining industry? Share your thoughts on the subject in the comments section below.

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Russia is preparing to provide Kazakhstan with additional energy needed to operate crypto mining farms in the Central Asian nation. New arrangements will allow Kazakhstan’s miners to buy electricity directly from the Russian power generation and distribution giant Inter RAO.

Crypto mining enterprises operating in Kazakhstan will be able to rely on electricity produced in neighboring Russia to power their energy-hungry hardware. To allow that, the two partnering nations will amend a bilateral agreement governing the coordinated operation of their energy systems.

The government in Moscow has already ordered the necessary changes and begun preparations to organize the supply of power for Kazakhstan’s crypto mining sector, the crypto news page of the Russian business information portal RBC unveiled.

In accordance with the new arrangements, Inter RAO, which holds monopoly on the export and import of electricity in Russia, will be able to sell in Kazakhstan under contracts concluded on commercial terms directly with the mining firms working there.

With its low, subsidized electricity rates, Kazakhstan attracted numerous mining companies after the Chinese government cracked down on the industry last year. The subsequent surge in consumption was blamed for the power shortages and multiple breakdowns of the country’s aging energy infrastructure. In January, Kazakh authorities temporarily shut down around 200 mining facilities.

The state-owned Russian energy giant first started considering additional supplies to Kazakhstan last fall, when the country was expecting its electricity deficit to reach 600 megawatts amid increasing demand during the cold winter months after consumption neared 83 billion kilowatt-hours (kWh) in the first nine months of 2021.

At the time, Inter RAO criticized Kazakhstan for its capped tariffs which the Russian holding said had led to lack of funds for investments in modernizing and upgrading the country’s generation capacities and distribution network. Also, electricity imports were previously restricted in Kazakhstan, unless the national grid operator KEGOC identified a risk of shortages.

Lawmakers in Nur-Sultan have recently proposed a bill aiming to reduce what they describe as “uncontrolled use of electricity by ‘gray’ miners.” The new legislation seeks to reserve the opportunity to mint digital coins only for mining companies registered with the Astana International Financial Center (AIFC). If the law is adopted, foreign entities would only be allowed to mine under contracts with domestically licensed data centers.

Do you think Kazakhstan will be able to solve its problems with power deficit and ensure sufficient electricity supplies for its crypto mining industry? Share your thoughts on the subject in the comments section below.

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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The proof-of-stake (PoS) blockchain network Solana suffered another outage on September 30 and the network restart did not take effect until six hours later on October 1. Solana has suffered a myriad of network outages during the last year, and the blockchain’s latest downtime caused the network’s native currency to slide 4% lower against the U.S. dollar in the last 24 hours.

Solana’s network had an outage again after validators failed to process blocks due to a misconfigured node within the system. On September 30, 2022, the Twitter account Solana Status wrote:

The Solana network is experiencing an outage and not processing transactions. Developers across the ecosystem are working on diagnosing the issue and to restart the network. More information will be provided as it becomes available.

Following the Solana Status update, a Solana proponent explained that the blockchain would be restarted. “The Solana mainnet network will be restarted at slot 153139220, the last confirmed slot,” the individual said. “It appears a misconfigured node caused an unrecoverable partition in the network. Validators, please participate in finding consensus on the relevant data.”

Amid the outage, Solana Status shared instructions on how validators could participate in the restart. “Mainnet Beta Validators: Please follow the cluster restart instructions,” Solana Status stressed. Around 3 a.m. (ET) Solana Status detailed that the cluster restart has been deployed. “Validator operators successfully completed a cluster restart of Mainnet Beta at 7 AM UTC,” Solana Status wrote. The team added:

Network operators [and] dapps will continue to restore client services over the next several hours.

Solana took a lot of criticism from the crypto community when the outage happened, as the blockchain is nearing its tenth outage since Solana’s inception. The founder of Cyber Capital, Justin Bons, gave the project flak over the most recent outage. “[Solana] has gone down again,” the Cyber Capital founder tweeted. “This is the 8th time [Solana] has gone down in the past year. Blockchains should never have [downtime], yet [Solana] goes down almost every month. This is another consequence of bad design,” Bons added.

Another person asked about the misconfigured node problem. “Def not FUD…honest question…what good is a Nakamoto coefficient of 30 if 1 misconfigured node can bring everything to a halt?” the individual asked. Meanwhile, Solana supporters shrugged off the criticism and told people that the blockchain network will continue to improve as long as the engineers are persistent.

“Solana will be fine,” one person remarked on Twitter. “As long as the [developers] continue to improve the [blockchain]. That is what’s important. Still bullish on [Solana] for the long term.

What do you think about Solana’s latest hiccup on September 30? Do you agree Solana will be just fine or do you agree that it’s a “consequence of bad design?” Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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