Stacks, a layer 2 blockchain constructed on Bitcoin, confronted a big outage that lasted for greater than 4 hours.
In line with the standing web page, the community stopped producing transaction blocks on January 6 at 7:15 UTC. No new blocks have been created since then, successfully halting transaction processing.
The mission crew confirmed the problem on their social media platform and mentioned that the builders are investigating the delay in block manufacturing brought on by the signer. Though updates are anticipated, the crew has but to offer a timeline for an answer.
They said:
“Core builders are investigating delays in Block manufacturing associated to Signer. Standby for extra updates.”
This outage comes lower than three months after the Nakamoto improve, a significant replace designed to enhance transaction speeds and enhance safety.
Nakamoto's improve carefully aligns Stacks blocks with Bitcoin's finitude and makes use of the sturdy hashing energy of the highest cryptocurrency to safe transactions. By tying stacks to the Bitcoin blockchain, the community advantages from BTC's resistance to reorganization, rising its general reliability.
The crew said:
“Any transaction you make on stacks is now secured by 100% Bitcoin hashing energy.”
Regardless of the outage, the Stacks community token (STX) stays intact. Information from fromcrypto reveals that STX has gained greater than 4% within the final 24 hours to achieve $1.71. This continues a weekly achieve of 15%, though the token has seen a broader decline of greater than 33% over the previous month.
sBTC milestone
In the meantime, this outage coincides with Stacks' progress on its sBTC initiative, a Bitcoin wrapper token.
On January fifth, the mission reported that the entire provide of sBTC had reached 1,000 tokens, equal to just about $99 million. This success highlights the rising adoption of Stacks in DeFi.
Added:
“After reaching the primary restrict of 1,000 sBTC, BTC is now slowly flowing into decentralized finance purposes on Stacks. Efforts are underway to exponentially enhance this momentum within the coming weeks and months.”
