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Last night, Solana's network verification nodes experienced a serious malfunction -28.83% of the pledged SOL collective lost contact, almost causing the world's second largest PoS public chain to permanently shut down. During the malfunction, 333 SOL rewards were permanently lost, at a current price of approximately $25000- but what was truly terrifying was not the money, but the fact that the network almost crossed the death spiral. More than a quarter of Solana's total staking amount is collectively disconnected within the fault window, and if it drops another 5%, the network will trigger a shutdown condition. ETH has over 4000 highly dispersed nodes worldwide, and Solana's node concentration problem is directly exposed to the sunlight. After the incident, SOL plummeted 2.6% overnight, from $77.33 to $75.62, putting all Solana DeFi protocols, meme coin ecosystems, and Jupiter trading at risk of shutdown. BTC synchronously fell below 64000, hitting a low of 63310; ETH fell to 1900. The Solana risk shutdown has become the biggest bearish factor in today's cryptocurrency market - when even PoS leaders can almost shut down, the trust foundation of the entire alt ecosystem is shaking. There are only a few events left until the SEC Regulation Crypto vote (8.14), and the Solana event may become a catalyst for the SEC to accelerate the launch of the "PoS Chain Pledge Compliance Framework" - regulatory requirements for node decentralization and failover mechanisms will be significantly tightened. Risk Warning: The views, conclusions, and recommendations presented in this article are for reference only and do not constitute investment advice. The market is risky, and investment needs to be cautious.