Avalanche Faces Significant Service Disruption Due to Block Finalization Delay, AVAX Value Drops - Metaverse Post
In Brief
Currently, Avalanche is in the midst of a substantial network disruption, caused by a block finalization delay that prevents new blocks from being accepted on its primary network.

Blockchain platform Avalanche (AVAX), developed by Ava Labs The network is currently facing a \"significant disruption.\" A block finalization delay has made it difficult for the primary network to accept new blocks, prompting developers to launch an investigation.
Kevin Sekniqi, co-founder of Ava Labs, shared in a post on X that they are looking into the problem with block generation on the Avalanche mainnet. This issue appears to be tied to a \"new inscription rolled out about an hour ago,\" which might have caused an unexpected bug due to some unusual conditions.
This situation is receiving urgent attention, as it is believed to involve \"some handling of the memory pool where inscriptions are encountering uncharted scenarios,\" noted Kevin Sekniqi.
Consequently, cryptocurrency exchanges like Bithumb and Upbit have temporarily suspended AVAX deposits and withdrawals, responding to the lull in block creation on the blockchain.
The price of Avalanche's native token, AVAX, has dropped to $36.21, reflecting a more than 1.5% decline in the past hour, nearly 3% down for the day, and around 13% over the week.
Avalanche and Solana Confront Network Disruptions
Launched in 2020, Avalanche Avalanche is a decentralized platform dedicated to maximizing the speed, security, and efficiency of transaction processes. Its primary goals include advancing blockchain technology with a strong focus on scalability, interoperability, and enhancing usability.
Recently, its competitor Solana, which is also a Layer 1 blockchain, faced similar issues, leading to a temporary halt in transactional activities and block production. This incident occurred after a series of comparable events throughout 2022, marking the 11th occurrence in just two years. an outage The ongoing outage in the Avalanche network has triggered investigations and a standstill in AVAX transactions, highlighting the present challenges of maintaining blockchain stability.
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In line with the Trust Project guidelines Alisa, a passionate journalist at Cryptocurrencylistings, specializes in cryptocurrency, zero-knowledge proofs, investments, and the broad scope of Web3. With her sharp insight into emerging trends and technologies, she provides comprehensive coverage to keep readers well-informed and engaged in the rapidly evolving realm of digital finance.