There was a problem in Avalanche (AVAX), one of the closely followed altcoin projects in Turkey. Avalanche suffered a software issue and block production had to stop for almost three hours. Here are the details…
Software problem appeared in altcoin network
Avalanche, a popular blockchain network, recently suffered a software issue that caused the block production process to stop for almost three hours. According to SnowTrace, a blockchain explorer, no new blocks were created on Avalanche’s C-Chain after 02:30 am on March 23. The cause of the incident has not been officially confirmed by the project, but Kevin Sekniqi, one of the co-founders of Ava Labs, the team behind Avalanche, stated that the issue is related to node software version v.1.9.12.
He explained that after upgrading to this version, nodes will no longer be able to connect to nodes that have not yet been upgraded, which will affect the process of reaching consensus on Blockchain data. In response, Avalanche quickly released a patch called v.1.9.14 and urged validators to update their nodes to avoid disruption to operations. Sekniqi confirmed that Avalanche continues to produce blocks and process transactions as usual. However, SnowTrace still shows its Blockchain in transaction as it has not updated its data yet. Meanwhile, Avalanche’s subnets continued to generate new blocks without registering any problems.
Famous exchanges stopped AVAX transactions
The incident caused Upbit and Bithumb, two of South Korea’s leading crypto exchanges, to temporarily suspend AVAX deposits and withdrawals due to C-Chain’s issues. Avalanche is a Blockchain consisting of three Blockchains named C-Chain, X-Chain and P-Chain, and the functions of each chain are EVM server for smart contract transactions, UTXO based payment provider and staking validator respectively.
AVAX price is down about 4 percent due to the C-Chain’s block stop and it slumped as low as $16.38. Despite this, Sekniqi emphasized that users who have upgraded to version 1.9.12 are not affected, and for those who have not upgraded yet, the situation is safe, albeit not live. At the time of writing, the cryptocurrency is changing hands at $17.10. On a daily basis, it managed to climb as high as $17.92.
cryptocoin.com As we reported, Avalanche is a layer-1 Blockchain that functions as a platform for decentralized applications and private Blockchain networks. It is one of Ethereum’s competitors, aiming to displace Ethereum as the most popular Blockchain for smart contracts. It aims to do this by having higher throughput of up to 6,500 transactions per second without sacrificing scalability.
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