Zilliqa faces community disruption, on-chain transactions plunge

• Technical glitch causes a 50% drop in Zilliqa Community every day transactions.
• Pressing investigation and backbone underway; deposits/withdrawals halted.
• Funds deemed SAFU; customers suggested to attend for community restoration updates.

The Zilliqa blockchain, valued at $383 million, is grappling with a crucial state of affairs impacting its community. On December 18, builders reported a technical situation inflicting an interruption in block manufacturing, leading to a major drop in on-chain transactions.

This sudden problem has prompted the Zilliqa Core Workforce to deal with the matter urgently. Right here’s an summary of the continued state of affairs.

Zilliqa Community on-chain transactions plunge

The technical glitch going through the Zilliqa blockchain has led to a staggering 50% discount in every day transactions, plummeting from a median of 61,000 to 30,906.

The Zilliqa Core Workforce is actively investigating the basis reason for the technical situation, emphasizing its standing as the highest precedence. A press release from Matt Dyer, Zilliqa’s CEO, reassures the group that the technical staff is working diligently to determine and resolve the issue. Nonetheless, as a precautionary measure, all companions are urged to briefly halt any deposits or withdrawals on the community till the difficulty is totally addressed.

Pricey group, We’re writing to tell you of a crucial state of affairs at the moment impacting the Zilliqa blockchain community.

The community is presently experiencing a technical situation that has resulted in an interruption to dam manufacturing. This sudden problem is our high…

— Zilliqa (@zilliqa) December 18, 2023

The interruption has led to a pause in exercise, with the final transaction recorded at roughly 11 am UTC. Regardless of the inconvenience, builders have highlighted the protection of funds (SAFU) and offered a way for customers to verify their on-chain pockets balances by the Zilliqa block explorer. 

Customers are suggested to attend for the community to be restored, assuring that normalcy will return.