For around nine hours on Friday morning, stacks ceased generating blocks, which also resulted in a decline in the value of the Bitcoin layer-2 token. This is the reason.
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Block production on Stacks, a layer-2 scaling network for Bitcoin, ceased for about nine hours on Friday, causing a major disruption.
The incident rocked the Stacks ecosystem and caused a 12% decline in the price of the STX token over the previous day. It was ascribed to a Bitcoin reorganization (reorg) and “unexpected miner behavior.”
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Since the blockchain itself wasn’t intended for features like smart contracts, which have been popular on competing networks over time, Stacks was created to provide functionality like these to power NFTs and dapps on the Bitcoin network.
The network’s architecture makes use of Bitcoin’s immutability and security to give developers a safe framework on which to create scalable blockchain apps that remain firmly based in Bitcoin.
The problem started earlier today when there was a block production delay on the Stacks network. The official channel for network updates on Twitter, the Stacks Status account (also known as X), identified a number of potential causes for the issue.
“We are experiencing a delay in Stacks block production due to unexpected mining behavior combined with a Bitcoin reorg,” the post read. “Core developers in the ecosystem are investigating the issue and working to resolve it as quickly as possible.”
Occasionally, there are reorganizations to the Bitcoin blockchain, invalidating previously verified blocks. Stacks and other apps and scaling networks created on top of Bitcoin can be affected by these rare but disruptive situations.
Supporters of the Stacks network in this instance claim that the network’s nine-hour outage was partially caused by the Bitcoin reorganization. It is also said that developers are keeping an eye on miner activity to stop similar interruptions in the future.
“Unexpected miner behavior” could mean that there are technical or operational problems among miners, or that they are not updating their software or cooperating well enough in response to a Bitcoin reorganization, which slows the production of blocks.
The trade of the STX token was affected by the nine-hour manufacturing standstill for blocks. A 12% daily decline in token price to $1.90 is indicative of investor apprehension for the stability of the network.
Even while the interruption has brought attention to the possible weaknesses in blockchain networks based on Bitcoin, the Stacks team claims it is dedicated to strengthening network resilience.
The impending Nakamoto update, which centers on a new consensus process, is intended to do away with the potential of splits and lessen the effects of Bitcoin reorganizations, as noted by Stacks co-creator Muneeb Ali.
Originally scheduled to launch in late spring, the Nakamoto upgrade was abruptly postponed because of possible problems that would have been too serious to fix in a future release. It will now launch in August.
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