A large-scale failure in the Ethereum network has been reported

Users have reported a large-scale Ethereum outage, with the network not confirming transactions for 25 minutes. Although the problem has now been fixed, there is a risk of a repeat failure.

According to the Ethereum Core developers, the exact causes of the failure are currently unknown, but if it was intentional, the situation may occur again.

The ETH team urged users not to panic, as similar cases have occurred in the past, and the developers of the main altcoin have always managed to resolve everything.

«There was a failure in the network. I don’t know why it happened yet, but Beacon Chain is designed to be resistant to such precedents. Transactions can already be carried out as usual, all of them will be confirmed after the cause of the failure is eliminated,» said a representative of the Beacon Chain community with the nickname superphiz.

Finality has been restored. We do not know the root cause yet, but something happened to cause several client implementations to work really hard to keep up with the chain.

— prestonvanloon. eth (@preston_vanloon) May 11, 2023

Beacon Chain is a key element in the Ethereum 2.0 update, which has improved the speed, security, and scalability of Ethereum. Beacon Chain introduced a new consensus mechanism called Proof of Stake (instead of Proof of Work), which allows the network to work faster and more efficiently. Beacon Chain is an important step in the development of Ethereum, enabling it to process transactions more efficiently and support a growing number of applications and users.

As a reminder, while ETH developers are solving network problems, Bitcoin Core representatives are drawing up a plan to save BTC. Bitcoin developers are dissatisfied with the high fees due to the popularity of the Ordinals project and want to make changes to the BTC code base that would limit the ability to create transactions with BRC-20 tokens.