Zilliqa, a blockchain platform, has successfully restored full functionality after facing challenges with block generation. The development team is actively monitoring the network’s stability while working to pinpoint the root cause of recent disruptions.
Following the network’s recovery, Zilliqa’s native token, ZIL, experienced a slight decline of 1.8% within the past 24 hours, as reported by CoinMarketCap. Concurrently, token trading surged by 7%, exceeding $15 million in the same timeframe, suggesting potential asset sales by traders in response to the technical difficulties.
On May 8, block generation on the network slowed down, leading to a temporary halt in transaction processing. However, after approximately 30 minutes, regular operations resumed as the protocol cleared the mempool.
Despite initial fixes, network issues persisted, prompting developers to deploy internal testnets to address identified bugs. Zilliqa rolled out the necessary software update alongside its scheduled v9.3.4 update, announcing the successful restoration of the blockchain.
By May 9 evening, developers conceded that the primary causes of network disruptions had not been fully resolved. Nonetheless, the company assured users that their funds remained secure, with balances accessible through the blockchain explorer.
This incident echoes previous challenges encountered by Zilliqa, including a half-day block processing halt in December 2023 and a protocol restart in July 2022 due to smart contract glitches.
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