The Zilliqa blockchain, with a market capitalization of $383 million, is dealing with a critical situation causing an interruption in block production and a 50% drop in daily on-chain transactions. The Zilliqa Core Team is focused on resolving the issue as a top priority and has advised all partners to halt deposits and withdrawals until the problem is fully addressed.
The unexpected challenge has caused a decrease in daily transactions from an average of 61,000 to 30,906. Matt Dyer, Zilliqa’s CEO, has reassured the community that the technical team is working hard to identify and resolve the issue. He has also noted that funds are deemed SAFU, and users can check their wallet balances through the Zilliqa block explorer while waiting for network restoration updates.
The last transaction was recorded at around 11am UTC, and users are advised to wait until normalcy is restored.
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