- Altcoin Zilliqa (ZIL) experiences a complete block production halt, as confirmed by the developers.
- The issue, which began yesterday afternoon, was briefly resolved before the network stopped again.
- Developers are working to identify the root cause and restore the network to full capacity.
Altcoin Zilliqa (ZIL) faces a significant block production issue, halting the mainnet completely. Developers are striving to resolve the issue and restore the network to its full capacity.
Zilliqa Mainnet Halts Block Production
Developers of altcoin Zilliqa (ZIL) have officially announced a complete halt in the mainnet’s block production. The issue, which began yesterday afternoon, was briefly resolved before the network came to a standstill again. The team is currently working to identify the root cause of the problem and restore the network to full capacity.
Investigation into the Issue
The developers, in their announcement, acknowledged the block production halt. They also stated that they are beginning to understand the cause of the issue following today’s interruption. The team is currently delving into the problem and working to get the network back to full capacity.
Users’ ZIL Tokens Safe
The developers also addressed the issue of many users not being able to see their ZIL tokens in their wallets. They assured that the funds are safe and suggested users who cannot see their funds in the wallet application to use the Zilliqa block explorer to check their assets by entering their addresses.
Price Impact and Market Performance
Despite the halt, the price of the altcoin, listed on Binance and Upbit, does not seem to be significantly affected. According to data, ZIL has seen a 0.71% increase in the last 24 hours. At the time of writing, the altcoin’s market value is around $416 million.
Conclusion
While the Zilliqa mainnet faces a significant issue with block production, developers are actively working to resolve the problem. Despite the network issues, the altcoin’s market performance remains relatively stable. Users are assured of the safety of their ZIL tokens, and the team is striving to restore the network to full capacity.
