The Zilliqa blockchain briefly stopped producing blocks after a technical issue impacted the network over the weekend.
“This unexpected challenge is our top priority and our technical team is working to identify and resolve the problem,” wrote the Zilliqa team in an X post on Sunday, noting that “Funds are SAFU.”
Dear community, We are writing to inform you of a critical situation currently impacting the Zilliqa blockchain network.
The network is presently experiencing a technical issue that has resulted in an interruption to block production. This unexpected challenge is our top…
— Zilliqa (@zilliqa) December 18, 2023
Blockchain data shows that the number of daily transactions dropped to nearly half of the average levels seen in previous days, to 34,400 at the time of writing. The blockchain’s native token ZIL fell by 2% earlier in the day, but recovered to an intra-day high of $0.02287 at the time of writing.
A few hours after the issue was disclosed, the team said they had identified the cause of the issue and developers were working on a fix, during which time transactions would not be processed.
Around four hours later, Zilliqa announced that the issue was resolved and the network was back to operating at full capacity, with a more detailed explanation of the events earlier in the day to follow.
Appreciate those involved in recovering the entire network today, and thanks folks for your patience in dealing with the distruption it caused. 🙏👇 https://t.co/r88cwxWf1K
— mattdyer (@MattDDyer) December 18, 2023
Zilliqa was founded in 2017, designed to be a high-throughput public blockchain platform designed to scale thousands of transactions per second. Ecosystem data shows that the network has 4 million users, and around $129 million in staked value.