Updated on | Posted in Cryptocurrency

Liquid network block production resumes following transaction processing issues

Block manufacturing on Blockstream’s Liquid community has resumed after technical issues associated with a functionary improve prompted many transactions to queue for hours.

In a Monday replace from a Liquid oversight board member diagnosed simplest as Wiz, Liquid’s failsafe mode turned into activated the day before today as “an surprising trouble came about inflicting block signer nodes failing to validate positive parameters in opposition to every other.” As a result, the community stopped generating blocks and transactions progressively queued withinside the Liquid mempool for kind of 22 hours, beginning at about 5:19 pm Eastern Time on Monday.
Liquid mempool transactions. Source: Liquid Network

Wiz suggested Liquid builders have upgraded 10 of the 15 functionaries, with block manufacturing anticipated to renew as soon as one greater has been fixed. Pending Liquid transactions have been queued withinside the mempool till the nodes had been upgraded, which turned into finished on Tuesday because the community suggested blocks had been coming in.

Related: Blockstream’s Liquid pushes for DeFi with new decentralized exchange

First introduced in 2015, Liquid turned into designed to be a Bitcoin (BTC) sidechain aimed toward dashing up BTC transactions settlements for crypto exchanges. The community helps its LiquidBTC (LBTC) tokens pegged to Bitcoin — there are 3,293 presently in circulation. In addition, the Liquid Federation has fifty seven members, along with crypto exchanges Bitfinex, BitMEX, and Huobi.