Liquid network block production resumes following transaction processing issues
Pending Liquid transactions had been queued in the mempool for roughly 22 hours after the network reported an issue which caused "block signer nodes failing to validate certain parameters against each other." Block production on Blockstream’s Liquid network has resumed after technical problems related to a functionary upgrade caused many transactions to queue for hours.In a Monday update from a Liquid oversight board member identified only as Wiz, Liquid’s failsafe mode was activated yesterday as “an unexpected issue occurred causing block signer nodes failing to validate certain....
Related News
Blockstream has just announced the rollout of Liquid, its first production sidechain on bitcoin. The company has been in collaboration with its launch partners, which include Bitfinex, BTCC, Kraken, Unocoin, and Xapo. It is also in discussions with another dozen major institutional traders and licensed exchanges, according to its blog post. The bitcoin network has currently been undergoing a lag when it comes to processing transactions, most likely due to the block size limit combined with the large growth in transaction volume over the past months. Liquid aims to provide a way to improve....
Transaction fees have dropped this year, after a spike earlier this summer. According to YCharts data, the average transaction fee of Bitcoin (BTC) has dropped from $4.40 to $1.80 this year, a decrease of 57.97%. This rise may be attributed to a variety of factors. One explanation is that the fast expansion of the Bitcoin Lightning Network, in which transactions are off the blockchain, may have been a catalyst.For perspective, the Bitcoin network charges a fee for each transaction. This payment is then divided between miners. When the network is congested and demand for transaction....
On June 1, 2022, the Solana network halted block production again as the blockchain network has stopped working a number of times during the network’s lifetime. According to the Solana status update, validator operators are being asked to prepare for a restart. Solana Continues to Be Plagued by Outages, SOL Downtime Denounced by the Crypto Community The blockchain network Solana (SOL) is down again as the network has been halted by the development team. The Twitter account Solana Status (@solanastatus) tweeted about the incident on Wednesday at 12:56 p.m. (ET) and the Solana status....
Martin Harrigan is a computer scientist and software developer. He is the founder of QuantaBytes, an Irish startup developing a suite of tools for analyzing and visualising bitcoin's block chain. He is also the co-author of one of the earliest academic papers to study the network properties of the block chain and its implications for anonymity. The block chain is a decentralised, consensus-driven ledger of every successful bitcoin transaction to date. As of the 300,000th block, the ledger includes over 38 million transactions. Aside from being a monumental technical achievement, the block....
To what extent does block size increase improve bitcoin scalability? Will the blockchain ever be able to match VISA's transaction processing rate? Bitcoin was first introduced in the year 2009. Since then the digital currency’s network has been growing non-stop. Over the past few years, bitcoin network has grown over multiple times but not much changes have happened on the technical side since its inception. The bitcoin block size has remained at 1 MB since the beginning and in order to ensure the survival of bitcoin, it is very important to increase the block size. The bitcoin community....