Nym Technologies SA joins the Liquid Federation, enhancing the Bitcoin layer-2 ecosystem with a focus on privacy and scalability.
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Bridged Bitcoin on Avalanche Surpasses Value Locked on the Lightning Network
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Tether is now live on 15 different blockchain networks, according to the company’s latest announcement on Friday as the firm detailed that it is now supported by the Polkadot blockchain system. The stablecoin’s new support follows the token being added to the Near Protocol 11 days ago. The news further follows Tether being ordered by […]Near Protocol Supports Tether USDT, Stablecoin Is Now Hosted on 14 Blockchain Networks
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On Tuesday, cryptocurrency supporters on social media and forums discussed Blockstream’s Liquid sidechain product as block signing had been down for over 20 hours. While Blockstream had noted the sidechain was undergoing a hard fork upgrade planned for October 5, a number of crypto proponents still scorned the project for being hypocritical toward blockchains like […]Liquid network block production resumes following transaction processing issues
Pending Liquid transactions had been queued in the mempool for roughly 22 hours after the network reported an issue which caused "block signer nodes failing to validate certain parameters against each other."
Block production on Blockstream’s Liquid network has resumed after technical problems related to a functionary upgrade caused many transactions to queue for hours.
In a Monday update from a Liquid oversight board member identified only as Wiz, Liquid’s failsafe mode was activated yesterday as “an unexpected issue occurred causing block signer nodes failing to validate certain parameters against each other.” As a result, the network stopped producing blocks and transactions steadily queued in the Liquid mempool for roughly 22 hours, starting at approximately 5:19 pm Eastern Time on Monday.
Wiz reported Liquid developers have upgraded 10 of the 15 functionaries, with block production expected to resume once one more has been fixed. Pending Liquid transactions had been queued in the mempool until the nodes were upgraded, which was completed on Tuesday as the network reported blocks were coming in.
Related: Blockstream’s Liquid pushes for DeFi with new decentralized exchange
First announced in 2015, Liquid was designed to be a Bitcoin (BTC) sidechain aimed at speeding up BTC transactions settlements for crypto exchanges. The network supports its LiquidBTC (LBTC) tokens pegged to Bitcoin — there are 3,293 currently in circulation. In addition, the Liquid Federation has 57 members, including crypto exchanges Bitfinex, BitMEX, and Huobi.