While Ava Labs is getting ready to upgrade to achieve 100k tps
[1], today the Avalanche blockchain experienced an outage caused by a surge in inscriptions, which are essentially the creation of new subnets on the Avalanche network. The sudden increase in inscriptions overloaded the network, leading to the outage.
The co-founder of AVA Labs, Kevin Sekniqi, believes that the outage was related to a bug in the code. The bug caused the network to incorrectly process inscriptions, leading to a backlog of transactions and ultimately the outage.
"Obviously, this is some esoteric bug from some edge case which should be handled quickly. Likely some mempool handling issue with inscriptions that hit some untested edge cases[2]."I hope the update, Avalanchego v1.1.1, will address the bug and prevent future outages from occurring.
This Avalanche outage highlights the challenges of scaling blockchain networks. I really hope that the 100k tps Vryx update will help the Avalanche blockchain avoid similar scalability issues in the future. At the same time, great speed can also help Avalanche be proactive and gain all the positive impact from the Inscription wave with the excitement of the ASC-20 token in the upcoming bullrun
[3].
And while we haven't had time to worry about the negative impact from unlocking the 9.54M AVAX token event that took place yesterday
[4] on the AVAX token price, now we continue to need to worry about the negative impact from this outage. As an Avalanche fan, I really did not expect the AVAX token price to retest the Fibo 0.618 ~ $25 zone.
What do you think about this Avalanche outage? Will AVAX token price be negatively affected? Did this event impact your investment decision in AVAX token?
[1]
Ava Labs Offers Solution To Increase Avalanche Performance To 100,000 TPS[2]
Avalanche Blockchain Faces Outage Amid Inscription Wave: AVA Labs Investigates[3]
Avalanche gets the ‘Ordinals’ bump, sets new transaction record[4]
Avalanche's AVAX Underperforms Ahead of $365M Token Unlock