Celo Blockchain Suffers A Critical Network Outage.
At 6:20 p.m. ET on Wednesday, the Celo blockchain stopped at block #14,035,19. Validators on the network are working on a solution to bring the network back online.
The Celo blockchain is experiencing downtime after the network’s production of new blocks abruptly ceased. At 06:20 p.m. ET on Wednesday, the network came to a halt at block #14,035,19. Meanwhile, all of the applications on the chain are inoperable.
Celo‘s proof-of-stake network could not validate new transactions for more than nine hours, according to its official block explorer, until block production was restored for a few minutes at 3:39 a.m. ET on Thursday. The chain, however, froze again at block #14,035,044.
According to the platform’s most recent update, the network’s validators have been working on a fix to bring the network back online. The team has yet to provide an explanation for the outage.
The team said:
“Validators are working to identify and resolve the issue. All funds are safe. Updates will be provided as soon as possible,”
Despite the fact that this was Celo’s first network outage, the core team had previously dealt with technical issues related to its bridge. Optics, Celo’s bridge to Ethereum and Polygon, was hit by a critical security bug in November 2021, necessitating an emergency upgrade.
Celo is an Ethereum Virtual Machine-compatible blockchain that raised $25 million in April 2019 from venture firms such as Horowitz and Polychain Capital. Celo currently hosts Ethereum-based decentralized exchanges such as Uniswap and Sushiswap. It is also the home of Valora, Mento, Moola Market, UbeSwap, and Mobius Money.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Patrick
CoinCu News
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Blockchain
Celo Blockchain Suffers A Critical Network Outage.
At 6:20 p.m. ET on Wednesday, the Celo blockchain stopped at block #14,035,19. Validators on the network are working on a solution to bring the network back online.
The Celo blockchain is experiencing downtime after the network’s production of new blocks abruptly ceased. At 06:20 p.m. ET on Wednesday, the network came to a halt at block #14,035,19. Meanwhile, all of the applications on the chain are inoperable.
Celo‘s proof-of-stake network could not validate new transactions for more than nine hours, according to its official block explorer, until block production was restored for a few minutes at 3:39 a.m. ET on Thursday. The chain, however, froze again at block #14,035,044.
According to the platform’s most recent update, the network’s validators have been working on a fix to bring the network back online. The team has yet to provide an explanation for the outage.
The team said:
“Validators are working to identify and resolve the issue. All funds are safe. Updates will be provided as soon as possible,”
Despite the fact that this was Celo’s first network outage, the core team had previously dealt with technical issues related to its bridge. Optics, Celo’s bridge to Ethereum and Polygon, was hit by a critical security bug in November 2021, necessitating an emergency upgrade.
Celo is an Ethereum Virtual Machine-compatible blockchain that raised $25 million in April 2019 from venture firms such as Horowitz and Polychain Capital. Celo currently hosts Ethereum-based decentralized exchanges such as Uniswap and Sushiswap. It is also the home of Valora, Mento, Moola Market, UbeSwap, and Mobius Money.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Patrick
CoinCu News
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