Ethereum (ETH) was struggling with a problem last night. As a result, the network was almost shut down for about 25 minutes. However, transactions were processed, but not completed.
Last night around 11 o’clock UTC, various Ethereum developers reported that there was a problem. It was found that the blockchain has not completed transaction blocks for 30 minutes. This means that these blocks have not been permanently stored on the blockchain for a long time.
The transactions were ultimately resolved, but without conclusion. This caused concern among those who had sent a transaction at that time. In a similar situation, these transactions are susceptible to manipulation. It is not clear whether this actually happened.
According to some developers, this also shows the resilience of the network. Despite the delay of some blocks of transactions, the transactions were finally resolved and processed. Ethereum is working properly again.
Meanwhile, the network is running properly again. Transactions are resolved and successfully completed. The exact cause is unknown for the time being. The developers of the network are working with all their might to find out how this could have happened.
It’s not the first time Ethereum has had problems. Even before the merger, the beacon chain, Ethereum’s proof-of-stake (PoS) blockchain, had an interruption. At that time, seven consecutive transaction blocks could not be processed. However, this happened still at the testing stage and did not have much effect.
The beacon chain stopped finalizing about thirty minutes ago. I don't know why yet, but in general the chain is designed to be resilient against this, transactions will continue as usual and finalization will kick in when the problem is resolved. pic.twitter.com/utAS0uAWpG
— superphiz.eth 🦇🔊🛡️ (@superphiz) May 11, 2023
The Ethereum competitor Solana (SOL) has actually been struggling with potential problems in recent years. The network was completely offline several times for a long time. However, it seems that by now they have got a better grip on their affairs.
In the first Ethereum news it was possible to read that the expected selling pressure after the recent merger definitely did not take place. In addition, staking activities reached a record high due to the hype around meme coins such as Pepe (PEPE).