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Home»BITCOIN NEWS»Avalanche C-Chain experiences block production interruption, AVAX price reacts
BITCOIN NEWS

Avalanche C-Chain experiences block production interruption, AVAX price reacts

By Crypto FlexsFebruary 23, 20243 Mins Read
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Avalanche C-Chain experiences block production interruption, AVAX price reacts
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In recent developments, the Avalanche (AVAX) C-Chain encountered Block production was severely disrupted, halting for over an hour. The outage affecting the underlying network was observed via the Avascan browser, with the last transaction recorded at block 42046853 (19:13 UTC+8).

Other subnets experienced some delays, but the primary network was most affected.

Avalanche C-Chain block production discontinued

Ava Labs, the team that developed the Avalanche protocol, acknowledged the issue and immediately began investigating. Depending on the According to Avalanche co-founder Kevin Sekniqi, the outage is believed to be related to a new wave of inscriptions that began about an hour before block production stopped.

Sekniqi said he was confident the incident was caused by an “esoteric bug” resulting from an untested edge case, and emphasized the need for a quick resolution.

The outage is believed to be related to a mempool processing issue, specifically related to inscriptions, which resulted in an untested edge case.

When asked about the likelihood of such untested scenarios occurring, Sekniqi acknowledged that ideally there should be no untested edge cases, but that the massive codebase and constant updates make it difficult to predict all possible scenarios.

Avalanche C-Chain outage notification. Source: @PeckShield on X

The Avalanche co-founder further clarified that while thorough testing will be conducted on the testnet, the complexity of the mainnet environment may lead to “unforeseen issues.”

At this time, Avalanche Protocol has not released any further official statement and is awaiting further reports and updates from the development team to gain further insight into the situation.

AVAX price falls

While the block production outage occurred, the price of AVAX, which serves as the native token for the Avalanche protocol, reacted negatively, further extending the ongoing downward trend observed since Thursday when the price was at $43.

Currently, the AVAX price has reached $36.13, down over 2% in the last 24 hours and a significant decline of 11.7% over the past 7 days.

avalanche
The daily chart shows that the price of AVAX is trending downward. Source: AVAXUSD on TradingView.com

The subsequent actions taken by the Avalanche team in response to this situation and the resulting impact on AVAX prices are yet to be determined.

Featured image from Shutterstock, chart from TradingView.com

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

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