Zilliqa Experiences Malfunctions, Working on Fix
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Zilliqa has announced a “permanent fix” to a bug problem that caused the blockchain to halt transactions over the weekend.
Developers for the project explained via a tweet on X that they were resolving a bug that disabled the network from creating new blocks.
Zilliqa Addresses Bug in ZilPay Wallet, Ensures Funds Are Safe
The problem caused some investors to be unable to access their funds on Zilliqa’s browser wallet, ZilPay. Several users within the Zilliqa community expressed disappointment with the situation.
Responding to these concerns, Zilliqa said: “We’ve encountered another issue with the network. We apologize for any inconvenience and appreciate all the feedback/reports. We have identified the bug and will resolve the issue as soon as possible. Rest assured—all funds are safe!”
We’ve encountered another issue with the network.
We apologise for any inconvenience, and appreciate all the feedback / reports.
We have identified the bug and will resolve the issue as soon as possible. Rest assured – all funds are safe!
— Zilliqa (@zilliqa) September 28, 2024
Zilliqa has experienced a couple of problems lately. On September 27TH, the blockchain suffered a bug that slowed block production but did not stop the network. The developers fixed it that same day. But now, with another issue so soon, users are starting to worry about how stable Zilliqa’s system is.
As of now, the network isn’t fully back to normal, but block production has restarted for validators. Zilliqa tweeted, “The network is now back online for validators, and a permanent fix is being implemented for public use. We appreciate your patience and will keep you updated.”
Dear Community,
The network is now back online for validators, and a permanent fix is being implemented for public use.
We appreciate your patience, and will keep you updated.
— Zilliqa (@zilliqa) September 29, 2024
While Zilliqa claims the recent problems are not related to its recent upgrade, users question the timing of these events. Zilliqa 2.0 upgrade was supposed to make things faster and work better with other blockchains.
Zillaq announced an upgrade in June. The update introduced new features, such as enabling developers to create customized blockchain experiences that suit their needs.
Plans to Halve Mining Rewards
Zilliqa is making a major move to push the network towards greater decentralization and security. The team has proposed cutting mining rewards in half. This encourages a quicker shift from Proof-of-Work (PoW) to Proof-of-Stake (PoS).
ZIL Halving Proposal – 11 Days Left!
Have your say on the proposal to introduce a halving mechanism for mining rewards as we transition to #ProofofStake
This landmark proposal reached 77% of the… pic.twitter.com/0ZO9Cfq6od
— Zilliqa (@zilliqa) October 1, 2024
The team believes the move will help speed up PoS adoption and reduce dependence on PoW. Additionally, the reallocation of resources is aimed at boosting ecosystem growth by funding innovation and community projects.
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