Bitcoin L2 Stacks faces 5 hour outage halting transactions
Bitcoin L2 Stacks faces 5 hour outage halting transactions Bitcoin L2 Stacks faces 5 hour outage halting transactions
The network developers are actively addressing the block manufacturing delay linked to a signer.
Hide art/illustration thru CryptoSlate. Image entails combined boom that could maybe also comprise AI-generated boom.
Stacks, a layer-2 blockchain constructed on Bitcoin, has faced a important outage lasting over four hours.
In protecting with its screech page, the network ceased producing transaction blocks at 7:15 UTC on Jan. 6. Since then, no fresh blocks were created, successfully halting transaction processing.
The mission’s team confirmed the problem on its social media platform, pointing out that developers are investigating a delay in block manufacturing caused by a signer. While updates are expected, the team has yet to provide a resolution timeline.
They mentioned:
“Core devs are investigating a delay in block manufacturing related to a Signer. Standby for extra updates.”
This outage occurs lower than three months after the Nakamoto upgrade, a important update designed to enhance transaction speeds and enhance safety.
The Nakamoto upgrade carefully aligns Stacks blocks with Bitcoin’s finality, leveraging the head crypto’s tough hash vitality to staunch transactions. By tying Stacks to Bitcoin’s blockchain, the network advantages from BTC’s resistance to reorganization, which will enhance its overall reliability.
The team mentioned:
“Any transaction you construct on Stacks is now secured by 100% of Bitcoin’s hash vitality.”
Despite the outage, the network’s Stacks (STX) token remains unaffected. Files from CryptoSlate shows STX has obtained over 4% in the previous 24 hours, reaching $1.71. This continues per week-prolonged rally of 15%, although the token has considered broader declines of over 33% in the center of the previous month.
sBTC milestone
In the period in-between, this outage coincides with Stacks’ progress in its sBTC initiative, a Bitcoin-wrapper token.
On Jan. 5, the mission mentioned that the final provide of sBTC reached 1,000 tokens, equivalent to nearly $ninety 9 million. This success emphasizes the rising adoption of Stacks in DeFi.
It added:
“After the first cap of 1,000 sBTC has been reached, the BTC is now slowly trickling down into the Decentralized Finance applications on Stacks. Efforts are underway to scale this momentum exponentially in the arrival weeks and months.”
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's doable. He imparts insights on a vary of issues admire DeFi, hacks, mining and culture, underlining transformative vitality.
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Stacks (formerly Blockstack) connects to Bitcoin, enabling you to comprise apps, natty contracts, and digital sources which could maybe be constructed-in with Bitcoin’s safety, capital, and network.
Bitcoin, a decentralized forex that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries thru a locate-to-locate network.
Source credit : cryptoslate.com
