fbpx
Skip to content Skip to sidebar Skip to footer

Ethereum’s Beacon Chain Faces Mysterious Disruption in Transaction Finality, Devs Swiftly Resolve the Issue

In a twist of fate, Ethereum’s (ETH) Beacon Chain encountered an enigmatic predicament on May 11, causing a temporary disruption in transaction finality for approximately thirty minutes.

Preston Van Loon, a prominent Ethereum protocol developer, has confirmed the resolution of the recent Ethereum mainnet issues causing community concerns.

Addressing the problem that prevented users from completing transactions for a period exceeding 25 minutes yesterday, Van Loon assured the community that “finality has been restored.”

The developer emphasized that the root cause remains elusive, with the mysterious event triggering a significant strain on multiple client implementations, compelling them to operate at their utmost capacity.

Although the exact origin of the issue remains unknown, its impact manifested as a difficult challenge for the affected systems as they endeavored to synchronize with the chain.

On March 15, there was a hiccup on the Goerli testnet during the “Shapella” upgrade due to low validator participation. However, the upgrade was successfully implemented on the Ethereum mainnet on April 12.

Ethereum’s original proof-of-stake blockchain, the Beacon Chain, was born in 2020. On September 15, 2022, a momentous event occurred as Ethereum’s pre-existing proof-of-work (PoW) chain merged with the Beacon Chain, completing the network’s transition to a faster and eco-friendly proof-of-stake consensus mechanism.

Ethereum is experiencing a bearish trend, with the ETH token’s price declining by 2.91% and currently trading at $1,768.86. The token’s low cost and high price are $1,742.40 and $1,835.62, respectively.

 

Leave a comment

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain & crypto news provider, covering daily news focused on trading and investment developments in bitcoin and crypto. We bring you expansive crypto news coverage around the world. We offer many thought leadership opinions from blockchain experts and leaders of the industry.

Subscribe to SCN

© Copyright of Novum Global Consultancy Pte Ltd {2020-2023}. All rights reserved.

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in blockchain, crypto, Web3, fintech and technology.

Follow Us On

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us