In a twist of fate, Ethereum’s (ETH) Beacon Chain encountered an enigmatic predicament on May 11, causing a temporary disruption in transaction finality for approximately thirty minutes.
Preston Van Loon, a prominent Ethereum protocol developer, has confirmed the resolution of the recent Ethereum mainnet issues causing community concerns.
Addressing the problem that prevented users from completing transactions for a period exceeding 25 minutes yesterday, Van Loon assured the community that “finality has been restored.”
The developer emphasized that the root cause remains elusive, with the mysterious event triggering a significant strain on multiple client implementations, compelling them to operate at their utmost capacity.
Although the exact origin of the issue remains unknown, its impact manifested as a difficult challenge for the affected systems as they endeavored to synchronize with the chain.
On March 15, there was a hiccup on the Goerli testnet during the “Shapella” upgrade due to low validator participation. However, the upgrade was successfully implemented on the Ethereum mainnet on April 12.
Ethereum’s original proof-of-stake blockchain, the Beacon Chain, was born in 2020. On September 15, 2022, a momentous event occurred as Ethereum’s pre-existing proof-of-work (PoW) chain merged with the Beacon Chain, completing the network’s transition to a faster and eco-friendly proof-of-stake consensus mechanism.
Ethereum is experiencing a bearish trend, with the ETH token’s price declining by 2.91% and currently trading at $1,768.86. The token’s low cost and high price are $1,742.40 and $1,835.62, respectively.
