Blockchain Celo (CELO) encountered an unknown issue on the morning of July 14, resulting in an outage of operations for extra than three.five hrs.
Celo (CELO) is a following-generation blockchain, employing the open supply Proof-of-Stake (PoS) consensus protocol and built to help mobile units. The undertaking was the moment anticipated to be ready to compete with other names this kind of as Solana, Avalanche, BNB Chain or even Ethereum.
According to the announcement posted on Twitter, Celo had a significant technical issue on the morning of July 14, which produced it extremely hard for the blockchain to produce new blocks and method transactions.
The Celo network crashed at block 14.035.19. Validators are doing work to recognize and resolve the issue. All money are protected. Updates will be presented as quickly as attainable.
– Celo (@CeloOrg) July 14, 2022
“The Celo network has been stopped at block variety 1403519. Validators are doing work to recognize and resolve the issue. All money are protected. We will give extra information and facts when attainable. “
Celoscan’s information is at this time only up to date to block variety 1403518, identified at 06:twenty on July 14 (Vietnam time), which is extra than three.five hrs in the past.
At the time Coinlive writes the short article, Celo has not however announced the motive for the issue as effectively as the alternative.
CELO’s cost has not observed substantially detrimental modify in light of the over information, with 24-hour trading volume on Binance pretty very low.
CELO is at this time the 82nd greatest cryptocurrency in the globe with a market place capitalization of $ 380.five million. In terms of TVL, this blockchain ranks 28th with a block worth of $ 126.seven million, divided by ten from a peak of $ one.two billion in October 2021.
Another blockchain undertaking, Helium (HNT), also not long ago encountered a four-hour “freeze” issue.
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