The $383 million Zilliqa ecosystem is experiencing disruption due to a “critical situation” affecting the network.
According to the December 18th post According to the developers, the Zilliqa blockchain is facing “technical issues that are halting block production.” According to blockchain data, Zilliqa’s daily transactions fell by about 50% to 30,906, compared to an average of 61,000 over the past few days.
There has since been a pause in activity, with the last transaction occurring around 11:00 AM UTC, and no new blocks have been created since. “The team is working hard to restore the network.” wrote Zilliqa CEO Matt Dyer follows up.
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“This unexpected issue is our top priority and our technical team is working to identify and resolve the issue,” the developers said, warning that all partners “must temporarily suspend deposits and withdrawals on the network” while the issue is resolved. .
However, the developers emphasized that “your funds are SAFU,” and even after reports emerged that users were unable to view token balances within their Zilliqa wallets, users can still check their on-chain wallet balances using the Zilliqa block explorer.
“No action is required on the user’s part. Just wait until the network is restored and everything will be back to normal.” said a community moderator on Zilliqa’s official Discord.
Dear Community, I am writing to inform you of an important situation currently affecting the Zilliqa blockchain network.
There is currently a technical issue with the network and block production has been halted. This unexpected challenge is our best…
— Zilliqa (@zilliqa) December 18, 2023
Founded in Southeast Asia in 2017, Zilliqa launched its mainnet the following year and is committed to blockchain scalability and metaverse ventures. The network has processed 61.4 million transactions since its inception. However, even before the current network outage, Zilliqa’s blockchain had relatively few transactions per second in terms of utilization.