The Ethereum (ETH) Network Had a Short-Term Problem: ‘Developers Stated!’

The biggest altcoin Ethereum (ETH) The network seems to have experienced a technical problem which meant that transaction certainty was temporarily not achieved. Ethereum’s (ETH) beacon chain suffered a short term termination and the cause is still unknown.

Ethereum (ETH) Network Reportedly Has a Short-Term Problem

The cause of the problem is not clear, and Ethereum (ETH) developers say the situation is being investigated. For now, the network data and the developers’ explanations show that transaction certainty has returned, referring to the situation where transactions cannot be changed.

Preston van Loon, co-founder of Prysmatic Labs, tweeted that precision has been restored. “We don’t know the root cause yet, but something happened that caused a few client apps to work really hard to keep up with the chain.” said.

Data sources on Ethereum network activity indicate that the issue is experienced by validators. Validators offer validation suggestions when performing network transactions.

Data provider Beaconcha.in shows that Ethereum saw a sharp decline in the number of confirmations received during the period between 200,552 and 200,554. The first troubled period took place at 19:13. According to network data, the issue was resolved within half an hour.

EthereumPools.info tweeted that “nearly every operator we tracked for several periods went offline.”

🚨 For a couple of epochs almost every pool/operator that we monitor went offline 🧐

Any idea what happened? pic.twitter.com/3Q9BDFis1d

— ethereumpools.info (@EthereumPools) May 11, 2023

After the event, community members cited client diversity, meaning the variety of software clients available to validators, as a reason why the issue is not more widespread or long-lasting.

At the time of this writing, Ethereum was trading at $ 1756, down 2%.

*Not investment advice.