Ethereum had issues processing transactions on May 11, 2023, at around 4:13 p.m. Eastern Time on Thursday, and transaction finality issues lasted for roughly 25 minutes. Currently, developers do not know what caused the issue and the blockchain is now running normally.
Ethereum Network Experiences Temporary Transaction Processing Issue
The Ethereum blockchain was unable to process ETH transactions and reach consensus for approximately 25 minutes on Thursday, just after 4 p.m. (ET). Ansgar Dietrichs, a researcher at the Ethereum Foundation said: “The beacon chain had a brief period of non-finalization just now. Good illustration for the robustness of the chain — while there was some slowdown of blocks, transactions continued to be processed as usual. We are back to normal now.”
Prysmatic Labs co-founder Preston van Loon also informed the public that developers were “Investigating current mainnet issues… Will post an update once we learn something.” Roughly an hour later, at 5:40 p.m., the developer wrote:
Finality has been restored. We do not know the root cause yet, but something happened to cause several client implementations to work really hard to keep up with the chain.
In addition to Dietrichs and van Loon, the Ethereum Beacon Chain community health consultant, Superphiz, wrote about the issue on Twitter. “The beacon chain stopped finalizing about thirty minutes ago,” Superphiz said. “I don’t know why yet, but in general the chain is designed to be resilient against this, transactions will continue as usual and finalization will kick in when the problem is resolved.”
The issues come at a time when Ethereum developers have been discussing block validity conditions and the next hard fork called “Dencun.” The upgrade will feature the Ethereum Improvement Proposal (EIP) 4844, otherwise known as ‘proto-danksharding.’ After the issue with the Beacon chain was resolved, Superphiz stressed that “regardless of what caused [the transaction finality issue] we must continue hardening every vector.”
What are your thoughts on the temporary disruption in Ethereum’s transaction processing on Thursday? Share your thoughts about this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Leave a Reply