Ethereum Network Recovers after Two Consecutive Performance Issues Reported in 24 Hours
The Ethereum network has recovered after suffering from two performance issues in the past 24 hours that resulted in blocks not being finalized.
In a Friday tweet, pseudonymous Ethereum developer Terence.eth revealed that the network has resumed finalizing blocks, adding that clients, the software that runs Ethereum nodes, are releasing updates to address the issue.
"Mainnet just finalized but not out of the woods. Clients are releasing patches today. Stay tuned," Terence.eth said.
The blockchain experienced what is being described as technical issues on Friday that caused the network to stop finalizing blocks for over an hour.
It was the second such incident within 24 hours, which sparked major security concerns for users of the Ethereum blockchain, the second-largest blockchain by market capitalization.
Finalized blocks play an essential role in providing proof-of-work validation, making networks like Ethereum easy to trust and reliable to use.
In Ethereum, finality takes roughly 15 minutes and refers to the guarantee that a block cannot be altered or removed from the blockchain without burning at least 33% of the total staked ETH, according to the Ethereum Foundation.
Despite its technical hiccup, the Ethereum network resumed finalizing blocks and continues to operate effectively.
Ethereum’s performance issues within the past week could stain its credibility in the eyes of builders.
Network reliability is essential for blockchains looking to attract users and capital, and Ethereum has historically been viewed as among the most stable networks in the market.
Some of the services built atop Ethereum, such as DYdX, a leading crypto exchange platform, had to pause deposits temporarily due to Ethereum's lack of finality.
"The
Read more on cryptonews.com
