On Tuesday, cryptocurrency supporters on social media and forums discussed Blockstream’s liquid side product because the block signature has been down for more than 20 hours. While Blockstream has indicated that the sidechain is undergoing a hard fork upgrade on October 5, a number of crypto proponents still despise the project for being hypocritical towards blockchains like Solana.
Fluid Blockstream suffers from block signature issues while upgrading dynamic unions
Cryptocurrency supporter Udi Wertheimer torn Crypto firm Blockstream on Tuesday as Liquid Network’s block signature was down and it was initially is expected for 24 hours. On October 5, Wertheimer She said: “The fluids have been off for 15 hours and no one has noticed yet, good morning.” “Good morning” or “GM” has been the latest trending phrase in the crypto community in recent times.
Continuing, Wertheimer mocked the company’s hardcore supporters and employees when he was note: “You don’t need an alternative cryptocurrency that you can only build on Liquid.” Anyone who told you they were intellectually dishonest, no one had ever used Liquid, how could anyone recommend it in good faith. Criticism continued like Wertheimer added:
When Solana was frustrated, everyone couldn’t stop [talking] About it hmmm… and when the liquid goes down, no one even notices hmmm maybe nothing HMMMMM.
The Wertheimer Solana outage is indicated when the SOL blockchain experienced a problem on September 14, stopping the production of network blocks. At the time, Solana was heavily criticized by members of the crypto community for the network outage.
On Tuesday, when Twitter user Josuard I. Gonzales asked on the social media platform if he could “create tokens on Liquid,” anyone replied “No, because the questioner is broken.” Blockstream sidechain Liquid has also been criticized on Reddit. Moreover, Wertheimer took screenshot From Blockstream’s reason for why Liquid Network’s block signature has stopped.
Restart liquid block signature
The Liquid Blockstream Network upgrade is well documented in the company’s blog section. One special publication, “Preparing the Liquid Network of Dynamic Federations,” written by Phil MacLean, explains the engineer’s actions in more detail.
At approximately 3:44 p.m. (EST) on October 5, the official Twitter account of the Blockstream Liquid project tweeted that block signature was working again.
“Enough Liquid Network employees have upgraded and resume signing ban,” account Hinge Tuesday. Transactions that are overdue are now included in the new blocks.
Prior to the 3:44 p.m. Twitter announcement of Liquid’s resume, the first known instance of the block signing issue was chirp By the official Twitter account 22 hours ago. Then followed the tweet two more Examples of tweets that mentioned a “ban signature side-chain issue”.
Liquid side chain issues on October 5 follow the company’s latest $210 million Series B funding round. The company explained that the funding was led by Baillie Gifford and Ifinex, the parent company of Bitfinex. Blockstream’s capital increase announcement on August 24, 2021 revealed: “The new capital will move towards accelerating bitcoin mining efforts and acquiring Spondoolies to launch an enterprise-class mining company.”
In addition, on June 24, Selo James Prestwich I found a problem with the liquid side chain. I got 870 BTC stuck in limbo Prestwich stressed: “For a little less than an hour, 2 out of 3 in an emergency were controlled with 870 bitcoins, and this violates the liquid security model we know about this because Liquid holds bitcoin. We don’t know why this is, because the union’s behavior The questioner is trusted and closed.
Blockstream’s Liquid has approximately 3,298 L-BTC in circulation which is approximately $170 million using current exchange rates. As of October 5, 2021, there are approximately 272,061 BTC coins on the Ethereum blockchain, according to sand dune analytics metrics. Binance Smart Chain has also released a circulating offering of BEP2 tokens Bitcoin (BTCB), and as of today, 105,148 BTCB coins have been issued.
What do you think of the outage from the liquid network Blockstream that was dealt with on Tuesday? Tell us what you think about it in the comments section below.
photo credits: Shutterstock, Pixabay, Wiki Commons, Twitter, Liquid,
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