Stacks, a layer-2 blockchain constructed on Bitcoin, has confronted a major outage lasting over 4 hours.
In keeping with its standing web page, the community ceased producing transaction blocks at 7:15 UTC on Jan. 6. Since then, no new blocks have been created, successfully halting transaction processing.
The challenge’s workforce confirmed the problem on its social media platform, stating that builders are investigating a delay in block manufacturing attributable to a signer. Whereas updates are anticipated, the workforce has but to supply a decision timeline.
They acknowledged:
“Core devs are investigating a delay in block manufacturing associated to a Signer. Standby for extra updates.”
This outage happens lower than three months after the Nakamoto improve, a major replace designed to enhance transaction speeds and improve safety.
The Nakamoto improve carefully aligns Stacks blocks with Bitcoin’s finality, leveraging the highest crypto’s strong hash energy to safe transactions. By tying Stacks to Bitcoin’s blockchain, the community advantages from BTC’s resistance to reorganization, which will increase its total reliability.
The workforce acknowledged:
“Any transaction you make on Stacks is now secured by 100% of Bitcoin’s hash energy.”
Regardless of the outage, the community’s Stacks (STX) token stays unaffected. Information from CryptoSlate exhibits STX has gained over 4% up to now 24 hours, reaching $1.71. This continues a week-long rally of 15%, though the token has seen broader declines of over 33% in the course of the previous month.
sBTC milestone
In the meantime, this outage coincides with Stacks’ progress in its sBTC initiative, a Bitcoin-wrapper token.
On Jan. 5, the challenge acknowledged that the full provide of sBTC reached 1,000 tokens, equal to almost $99 million. This achievement emphasizes the rising adoption of Stacks in DeFi.
It added:
“After the primary cap of 1,000 sBTC has been reached, the BTC is now slowly trickling down into the Decentralized Finance functions on Stacks. Efforts are underway to scale this momentum exponentially within the coming weeks and months.”
