Blockchain Network Zilliqa Halts Block Production, ZIL Drops 6%

Layer-1 blockchain network Zilliqa is experiencing a difficulty that has caused “an interruption to block production.” Following the official announcement from the network’s core developer team, its native coin, ZIL, has plummeted by over 6%.

The latest fault in block production comes after the blockchain has crossed 3.4 million in its block height and over 61.3 million transactions. The last transactions made on the blockchain occurred seven hours ago, as revealed on the blockchain explorer ViewBlock.

Zilliqa Addresses Block Production Halt

Block production is a key feature of blockchain technology. This is the process through which transactions are permanently stored in blocks created and added to the blockchain. Interrupting its operations can delay transaction completion, affecting the blockchain network’s overall performance.

Zilliqa’s core team noted that its technical team is actively addressing the issue. In the meantime, users are urged not to deposit or withdraw assets from the network as this may cause a loss of funds.

“The network is presently experiencing a technical issue that has resulted in an interruption to block production. This unexpected challenge is our top priority and our technical team is working to identify and resolve the problem,” the team wrote.

Meanwhile, the team reassured users that their funds stored in the network were safe. If users cannot see their wallet balance in their wallet, they can view them on ViewBlock.

ZIL Drops 6%

With ZIL down by over 6%, the asset currently trades at $0.02206. The price also represents a 2.5% decrease over the past seven days and 91.3% below its all-time high (ATH), attained in May 2021.

Source: CoinStats

Impressively, the coin has soared by over 820% since March 2020.

Notably, this is not the first time a blockchain network will experience such downtime. Last week, layer-2 network Arbitrum saw a temporary outage in its Arbitrum One sequencer lasting over an hour. The fault was attributed to a surge in network traffic.