Ethereum had transaction processing issues on May 11, 2023, around 4:13 p.m. EST Thursday, and the transaction finality issues lasted for approximately 25 minutes. Currently, the developers do not know what caused the problem and the blockchain is now working normally.
The Ethereum network is experiencing a temporary issue processing transactions
Ethereum blockchain could not process ETH trading and reaching consensus for about 25 minutes Thursday, just after 4 p.m. ET. Ansgar Dietrichs, researcher at the Ethereum Foundation said: “The beacon chain had a brief period of non-completion earlier. Good illustration of the robustness of the chain — although there was some slowdown in blocks, transactions continued to be processed as usual. We are back to normal now.
Prysmatic Labs co-founder Preston van Loon also informed the public that the devs were “investigating current mainnet issues…will post an update once we learn anything.” About an hour later, at 5:40 p.m., the developer writing:
Finality has been restored. We don’t know the root cause yet, but something happened that caused several customer implementations to work very hard to keep up with the chain.
In addition to Dietrichs and van Loon, Ethereum community health consultant Beacon Chain, Superphiz, writing about the issue on Twitter. “The beacon chain stopped finalizing about thirty minutes ago,” Superphiz said. “I don’t know why yet, but in general the chain is designed to be resilient to this, transactions will continue as usual and finalization will begin when the issue is resolved.”
The issues come at a time when Ethereum developers have been discuss block the conditions of validity and the following hard fork called “Dencun”. The upgrade will include Ethereum improvement proposal (EIP) 4844, otherwise known as “proto-danksharding”. Once the issue with the Beacon channel is resolved, Superphiz stress that “regardless of what caused (the transaction finality issue), we must continue to strengthen each vector”.
What are your thoughts on Thursday’s temporary halt in Ethereum transaction processing? Share your thoughts on this topic in the comments section below.
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