Stacks, a layer 2 blockchain constructed on Bitcoin, confronted a big outage lasting greater than 4 hours.
In line with its standing web page, the community stopped producing transaction blocks at 7:15 UTC on January 6. Since then, no new blocks have been created, halting transaction processing.
The venture workforce confirmed the difficulty on its social media platform, stating that the builders have been investigating a delay in block manufacturing brought on by a signer. Whereas updates are anticipated, the workforce has but to supply a decision timeline.
They declared:
“Core builders are investigating a signer-related block manufacturing delay. Ready for extra updates.
This outage comes lower than three months after the Nakamoto Improve, a big replace designed to enhance transaction speeds and strengthen safety.
Nakamoto's improve intently aligns Block Stacks with the aim of Bitcoin, leveraging the crypto's highly effective hashing energy to safe transactions. By linking Stacks to the Bitcoin blockchain, the community advantages from BTC's resistance to reorganization, rising its general reliability.
The workforce mentioned:
“Any transaction you make on Stacks is now secured by 100% of Bitcoin’s hashing energy.”
Regardless of the outage, the community's Stacks (STX) token is just not affected. Knowledge from forexcryptozone reveals that STX gained greater than 4% within the final 24 hours, reaching $1.71. This continues a 15% week-over-week rise, though the token has seen broader declines of over 33% over the previous month.
sBTC milestone
In the meantime, this outage coincides with Stacks' progress in its sBTC initiative, a Bitcoin-wrapper token.
On January 5, the venture mentioned the whole sBTC provide reached 1,000 tokens, or practically $99 million. This achievement highlights the rising adoption of Stacks in DeFi.
He added:
“As soon as the primary cap of 1,000 sBTC is reached, BTC is now slowly trickling all the way down to decentralized finance purposes on Stacks. Efforts are underway to scale this momentum exponentially within the weeks and months to return.
