Over the past few days, the Ethereum network has faced some challenges in finalizing transactions.
Ethereum Validator Software Patched After Finalization Issues
Over the past few days, the Ethereum network has faced some challenges in finalizing transactions. On May 11 and 12, the network experienced two incidents that prevented block finalization for 25 minutes and over an hour, respectively. The cause of the problem is still under investigation, but it seems to be related to high load on some of the clients .
The network was able to continue operating thanks to the diversity of clients available to validators. However, the developers released patches for two of the affected clients, Prysm Labs and Teku, to optimize their performance and avoid excessive resource consumption. These updates are expected to restore stability and security to the Beacon Chain. The Ethereum Foundation has also urged validators to update their clients as soon as possible.
The Beacon Chain was launched on Dec. 1, 2020, and merged with the existing proof-of-work chain on Sept. 15, 2022. Since then, the network has seen increased activity and staking rewards, especially due to the popularity of memecoins. According to on-chain data, validators earned $46 million or 24,997 ETH in the first week of May.
