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Zilliqa on-chain transactions plunge amid ‘technical issue’

Replace December 18, 2023 10:09PM UTC: The Zilliqa mainnet has been restored and is now absolutely operational. 

The $383-million Zilliqa ecosystem is experiencing disruptions as a consequence of a “vital scenario” impacting the community.

Based on a Dec. 18 post by builders, the Zilliqa blockchain faces a “technical challenge that has resulted in an interruption to dam manufacturing.” Blockchain knowledge shows that day by day transactions on Zilliqa subsequently plunged by roughly 50% to 30,906, in comparison with a median of 61,000 up to now few days.

Exercise has since paused, with the final transaction occurring at round 11 am UTC, with no new blocks being produced since then. “The group are working laborious to get well the community,” wrote Matt Dyer, Zilliqa’s CEO, in a follow-up.

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“This sudden problem is our prime precedence and our technical group is working to determine and resolve the issue,” mentioned builders, warning that each one companions ought to “quickly halt any deposits or withdrawals on the community” as the problem is being resolved.

Nevertheless, builders emphasised that “funds are SAFU,” and customers can nonetheless verify their on-chain pockets stability utilizing the Zilliqa block explorer after reviews surfaced of customers unable to see token balances inside their Zilliqa pockets.

“No motion is required on customers’ ends. Simply watch for the community to be restored, and issues can be again to regular,” mentioned a group moderator on Zilliqa’s official Discord.

Based in 2017 in Southeast Asia, Zilliqa launched its mainnet the next yr and is devoted to blockchain scalability and a metaverse venture. The community has processed 61.4 million transactions since its inception. Even earlier than the present community outage, nonetheless, Zilliqa’s blockchain noticed relatively few transactions per second relating to utilization fee.