Zilliqa developers announced the complete restoration of network functionality after problems with block generation.
The team clarified that it is monitoring the network’s stability and trying to diagnose the root cause of the recent outages.
Following news of the network’s resumption, Zilliqa’s naive token, ZIL, reacted by falling. According to CoinMarketCap data, the coin fell 1.8% in the last 24 hours.
At the same time, token trading has increased sharply by 7%, reaching more than $15 million in the last 24 hours, indicating that traders could begin selling assets following the technical issues.
On May 8, the network slowed down block generation, and transaction processing stopped less than an hour later, allowing the protocol to clear the mempool and resume regular operation after 30 minutes.
Developers said they were investigating the cause of the incident and, the next day, admitted that network problems continued.
Technical specialists created internal testnets to test fixes for supposedly identified bugs. Zilliqa released the necessary software update in addition to the animated scheduled v9.3.4 update and announced the restoration of the blockchain.
However, by the evening of May 9, developers admitted that they had not been able to eliminate the leading causes of network shutdowns completely. However, the company assured that funds were safe and users could check their balances through the blockchain explorer.
In December 2023, Zilliqa encountered similar problems when the network processed blocks for less than half a day. In July 2022, the team had to restart the protocol after a glitch in the smart contracts.
