Core

Zilliqa

<div class="coinjournal">
 <ul>
 <li>Technical glitch causes a 50% drop in Zilliqa Network daily transactions.</li>
 <li>Urgent investigation and resolution underway; deposits/withdrawals halted.</li>
 <li>Funds deemed SAFU; users advised to wait for network restoration updates.</li>
 </ul>
 The Zilliqa blockchain, valued at $383 million, is grappling with a critical situation impacting its network. On December 18, developers reported a technical issue causing an interruption in block production, resulting in a significant drop in on-chain transactions.
 This unexpected challenge has prompted the Zilliqa Core Team to address the matter urgently. Here’s an overview of the ongoing situation.
 <h2 id="zilliqa-network-on-chain-transactions-plunge">Zilliqa Network on-chain transactions plunge</h2>
 The technical glitch facing the Zilliqa blockchain has led to a staggering 50% reduction in daily <a rel="noopener noreferrer nofollow" title="transactions" href="https://thebittimes.com/tag/transactions.html">transactions</a>, plummeting from an average of 61,000 to 30,906.
 The Zilliqa Core Team is actively investigating the root cause of the technical issue, emphasizing its status as the top priority. A statement from Matt Dyer, Zilliqa’s CEO, reassures the community that the technical team is working diligently to identify and resolve the problem. However, as a precautionary measure, all partners are urged to temporarily halt any deposits or withdrawals on the <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a> until the issue is fully addressed.
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 Dear community, We are writing to inform you of a critical situation currently impacting the Zilliqa blockchain network.
 The <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a> 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
 </blockquote>
 
 The interruption has led to a pause in activity, with the last <a rel="noopener noreferrer nofollow" title="transaction" href="https://thebittimes.com/tag/transaction.html">transaction</a> recorded at approximately 11 am UTC. Despite the inconvenience, developers have highlighted the safety of funds (SAFU) and provided a means for users to check their on<a rel="noopener noreferrer nofollow" title="-chain" href="https://thebittimes.com/tag/chain.html">-chain</a> wallet balances through the Zilliqa block explorer.&nbsp;
 Users are advised to wait for the network to be restored, assuring that normalcy will return.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/zilliqa-faces-network-disruption-on-chain-transactions-plunge-tbt74082.html">https://thebittimes.com/zilliqa-faces-network-disruption-on-chain-transactions-plunge-tbt74082.html</a>

Zilliqa faces network disruption, on-chain transactions plunge

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