Litecoin

Kevin

Impact

Dogecoin

Avalanche

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/avalanche-network-halts-investigating-the-cause-and-impact/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Avalanche Network Halts: Investigating the Cause and Impact</a> 
For several hours, the <a href="https://en.coin-turk.com/impressive-surge-in-avalanche-avax-price-amidst-crypto-market-fluctuations/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Avalanche</a> network has been unable to produce new blocks, and the issue has become quite frustrating for its users. This situation, while common for Solana, is unusual for Avalanche and has caused unease among investors. Indeed, we saw the price drop to a $36 base as the network outage began. However, the Avalanche Co-Founder has shed light on the issue.
<h2 style="text-align: justify" id="why-did-avalanche-stop">Why Did Avalanche Stop?</h2>
The initial explanation suggested that the halt in block production could be due to an inscription initiated about an hour before the stoppage. Avalanche Co-Founder Kevin Sekniqi personally made this statement, leading all <a href="https://newslinker.co/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">news</a> sources to point to it as the root of the problem. However, while developers were working to solve the issue, Kevin was trying to clarify to editors that there had been a misunderstanding.
The network issue was announced similarly to past interruptions in Litecoin and <a href="https://coin-turk.com/dogecoinin-doge-iki-kurucusundan-carpici-iki-aciklama" data-wpel-link="internal" rel="noopener noreferrer nofollow">Dogecoin</a> networks, where ordinals caused efficiency problems leading to outages. However, Kevin states that the situation here is different. The problem with the Avalanche network was not related to efficiency or performance but was triggered by a mistake in the code.
Kevin Sekniqi wrote the following:
<blockquote>
 “To clarify: the issue is entirely related to a coding error. It seems like a mempool management mistake and is not a performance processing issue. It appears that inscriptions reached an endpoint, but they did not affect performance. So, the current issue does not mean the network is clogged by inscriptions.”
</blockquote>
Litecoin, Dogecoin, Bitcoin, and many other networks have previously experienced a temporary halt in block production due to “network congestion,” which Kevin has denied. During that time, the Avalanche community and developers expressed confidence in their network’s efficiency and stated that a similar issue would not occur in their network. Perhaps it’s important to be cautious with big claims.
<h2 style="text-align: justify" id="avax-coin-price-analysis">AVAX Coin Price Analysis</h2>
As with many other altcoins, we’ve been discussing how the AVAX price has been constrained by a parallel channel for a rise. After surpassing the $31.4 base support, the popular altcoin targeted the $50 resistance to accelerate the rally. However, it has been unable to permanently break free from this area. It is now continuing to fluctuate within the parallel channel.
<img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-318859 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/AVAXUSDT_2024-02-23_17-52-25.png" alt="" width="1814" height="836">
If the selling continues, we could see a return to $31.4 after $33.7. However, if the $38 level is maintained, a retest of $50 is possible.
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/avalanche-network-halts-investigating-the-cause-and-impact/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Avalanche Network Halts: Investigating the Cause and Impact</a></h5>

Avalanche Network Halts: Investigating the Cause and Impact

Table of Contents

COINTURK NEWS

Other articles published on Feb 23, 2024

BREAKING: Judge Approves Binance to Pay $4.3 Billion Penalty!

Marathon Digital Holdings Introduces Slipstream to Enhance Bitcoin Transaction Efficiency

PancakeSwap Launches Cross-Blockchain Expansion Project in Response to Rising DeFi Demand

Reddit Files for IPO, Reveals Crypto Holdings in Bitcoin and Ether

Crypto Asset Inflows Soar As JPM Turns Bullish; $GFOX Offers 10X Potential

Dogecoin hints bullish move, Here’s how?

Join our free newsletter for daily crypto updates!