Stellar Node Outage Causes Two-Hour Complete Transaction Freeze
William Suberg's original article for cointelegraph.com reduced by 49%
Blockchain network Stellar stopped confirming transactions for two hours on May 15, executives confirmed following a user post on social media. Stellar, whose lumens token is currently the eighth-largest cryptocurrency by market cap, went down entirely for around 110 minutes Wednesday. The cause, it appears, was a mass offlining of Stellar Development Foundation nodes, which the majority of the network trusts.
"The more the network grows and the more newcomers trust always the same nodes, the more difficult it will get to achieve decentralization." Stellar did not escape criticism over its structure from elsewhere in the cryptocurrency industry, former blockchain consortium R3 executive Tim Swanson further suggesting it had limited appeal as a platform. "What basically happened was that a critical mass of nodes went down causing a cascading failure and so the entire network went down but because it isn't frequently used, few noticed," he summarized on Twitter. In an apparent bid to increase awareness, Stellar had partnered with wallet provider Blockchain.com on a $125 million token giveaway in November last year.
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Summarised crypto news.