Bitcoin L2 Stacks faces 5 hour outage halting transactions

Stacks, a layer 2 blockchain constructed on Bitcoin, skilled a major outage lasting greater than 4 hours.

In accordance with his standing pageOn January 6 at 07:15 UTC, the community stopped producing transaction blocks. Since then, no new blocks have been created, successfully halting transaction processing.

The venture’s workforce confirmed the difficulty on its social media platform, stating that builders are investigating a delay in block manufacturing brought on by a signer. Whereas updates are anticipated, the workforce has but to offer a decision timeline.

She declared:

“Core builders are investigating a delay in block manufacturing associated to a Signer. Stand by for extra updates.”

This outage happens lower than three months after the Nakamoto improve, a significant replace designed to enhance transaction speeds and improve safety.

The Nakamoto improve brings the Stacks blocks intently consistent with Bitcoin’s finality, leveraging the highest crypto’s strong hashing energy to safe transactions. By linking Stacks to Bitcoin’s blockchain, the community takes benefit of BTC’s resistance to reorganization, rising its general reliability.

The workforce declared:

“Each 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 stays unaffected. Knowledge from CryptoSlate exhibits that STX is up over 4% within the final 24 hours to succeed in $1.71. This continues a week-long 15% rally, 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 in its sBTC initiative, a Bitcoin wrapper token.

On January 5, the venture acknowledged that the overall provide of sBTC reached 1,000 tokens, equal to nearly $99 million. This achievement highlights the rising adoption of Stacks in DeFi.

It added:

“After reaching the preliminary restrict of 1,000 sBTC, BTC is now slowly trickling all the way down to the decentralized finance functions on Stacks. Efforts are underway to scale this momentum exponentially within the coming weeks and months.”

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