Search
Close this search box.

Bitcoin Layer-2 Network Stacks Halted for Over 9 Hours

Stacks stopped producing blocks for about nine hours early Friday, causing a price plunge in the Bitcoin layer-2's token as well
Bitcoin Layer-2 Network

The Bitcoin Layer-2 network, Stacks, encountered a significant issue that caused a prolonged network outage.

According to on-chain data, the Stacks network experienced a block interruption today, halting block production for over nine hours between blocks 153917 and 153918. Block creation resumed at 20:20 on June 14, but the number of new blocks produced remains lower than usual.

Stacks, formerly Blockstacks, is a blockchain platform that supports Bitcoin, allowing developers to build decentralized applications (dApps) using Bitcoin as the underlying infrastructure.

Stacks employs a technology called Proof of Transfer (PoX) to connect the Stacks network with the Bitcoin network. This enables transactions to be validated using Bitcoin and allows developers to leverage Bitcoin’s blockchain data to create new applications.

At the end of April, following extensive research and development, the Stacks blockchain underwent its largest upgrade, named “Nakamoto.” The upgrade process began at Bitcoin block 840,360 and continued through the end of May.

Despite these advancements, the Stacks blockchain frequently experiences congestion, leading to extended periods of network downtime.

Share:

New Post

Read more

Bitcoin ETFs see record inflows in July, signaling strong investor sentiment and driving Bitcoin, Ethereum, and altcoins higher.
Mastercard integrates its API with Alchemy Pay to enhance security for crypto solutions, reducing fraud with advanced machine learning and boosting user protection.
Some firms have proposed business practices that the SEC agrees could exempt them from controversial crypto accounting guidance, according to an SEC source.