Bitcoin L2 Stacks faces 5 hour outage halting transactions

Stacks, a layer-2 blockchain built connected Bitcoin, has faced a important outage lasting implicit 4 hours.

According to its presumption page, the web ceased producing transaction blocks astatine 7:15 UTC connected Jan. 6. Since then, nary caller blocks person been created, efficaciously halting transaction processing.

Stacks Blockchain Outage (Source: Stacks)

The project’s squad confirmed the contented connected its societal media platform, stating that developers are investigating a hold successful artifact accumulation caused by a signer. While updates are expected, the squad has yet to supply a solution timeline.

They stated:

“Core devs are investigating a hold successful artifact accumulation related to a Signer. Standby for much updates.”

This outage occurs little than 3 months aft the Nakamoto upgrade, a important update designed to amended transaction speeds and heighten security.

The Nakamoto upgrade intimately aligns Stacks blocks with Bitcoin’s finality, leveraging the apical crypto’s robust hash power to unafraid transactions. By tying Stacks to Bitcoin’s blockchain, the web benefits from BTC’s absorption to reorganization, which increases its wide reliability.

The squad stated:

“Any transaction you marque connected Stacks is present secured by 100% of Bitcoin’s hash power.”

Despite the outage, the network’s Stacks (STX) token remains unaffected. Data from CryptoSlate shows STX has gained implicit 4% successful the past 24 hours, reaching $1.71. This continues a week-long rally of 15%, though the token has seen broader declines of implicit 33% during the past month.

sBTC milestone

Meanwhile, this outage coincides with Stacks’ advancement successful its sBTC initiative, a Bitcoin-wrapper token.

On Jan. 5, the task stated that the full proviso of sBTC reached 1,000 tokens, equivalent to astir $99 million. This accomplishment emphasizes the increasing adoption of Stacks successful DeFi.

It added:

“After the archetypal headdress of 1,000 sBTC has been reached, the BTC is present dilatory trickling down into the Decentralized Finance applications connected Stacks. Efforts are underway to standard this momentum exponentially successful the coming weeks and months.”

The station Bitcoin L2 Stacks faces 5 hr outage halting transactions appeared archetypal connected CryptoSlate.