Layer-1 Zilliqa Stops Generating Blocks for a Few Hours

Layer-1 Zilliqa stops generating blocks for a few hours

Evening of December 18, 2023, the X Zilliqa account posted a notice about a technical problem causing the inability to process transactions on the blockchain. Therefore, the administration team recommends that users suspend all deposit and withdrawal activities on the Zilliqa network.

Dear community, We are writing to inform you of a critical situation currently impacting the Zilliqa blockchain network.

The network 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

About 4 hours later, the project updated the network and was able to operate normally again. However, the cause and treatment will be announced at the appropriate time.

Hello everyone,

Thank you for your understanding and patience.

We are pleased to inform you that the network is now fully operational. In due course, we’ll provide more information on the issue we encountered.

As always we appreciate your continued support during these…

— Zilliqa (@zilliqa) December 18, 2023

Furthermore, Zilliqa’s leadership team also commits that users’ assets remain safe and no loss occurs.

Zilliqa started as a research project at the National University of Singapore and was launched in October 2017. At that time, this blockchain received attention and support from many large investment funds such as FBG, GBBL and EPFL. Although expected with sharding technology to expand capabilities, this blockchain in recent years has been quite quiet and does not have many outstanding features.

Chart of ZIL/USDT

Following news of the incident, Zilliqa’s ZIL experienced a slight drop of about 6%, currently fluctuating at $0.022.

ZIL/USDT 4H chart taken at 6:44 am on December 19, 2023 on Binance (UTC)