Some nodes in the Stellar network have stopped validating their network transactions. This problem lasted for more than 10 hours. The Stellar Development Foundation is working to find out why.
to the Report Decrypt, the node of the Stellar Development Foundation (SDF), which develops the blockchain network in China, ran into trouble yesterday.
According to a report published by the foundation, the incident started at around 12:30 pm on Tuesday, April 6 (April 17) in Tehran time and continued until about 11:30 pm. The text of this report states:
Horizon’s public API, owned by the Stellar Development Foundation, is also temporarily unavailable; But the network itself is still online.
The Stellar Development Foundation stated in the report that it is working to address this issue; But he emphasizes that despite the problem, the network is still online and usable. According to the report, this issue is described as follows:
Since Stellar is a decentralized network and many of its validation nodes are still active, the transaction processing process will continue (without any problems). In addition, people who have set up their own private Horizon and do not use Stellar Public Horizon can still use the API to send network data queries.
Validation nodes are computers that run Blockchain software. In general, the more decentralized and distributed these nodes are, the higher the network security; Because even without the activity of some of them, network performance will not be disrupted.
The same is true of Stellar. Not all Stellar nodes belong to the Stellar Development Organization, and in addition to this organization, other payment processing companies such as COINQWEST, Wirex and SatoshiPay are involved in this process. According to the Stellarbit site, all nodes belonging to these companies were active.
But as mentioned earlier, the nodes relying on the Horizon Stellar API had stopped working. Stellarbit site data showed the number of active Stellar nodes at this time as 21.
While Stellar Development was working on the problem, digital currency exchanges were also trying to manage the situation. The Beatstamp digital currency exchange has stated that it will not allow its users to withdraw XLM (Stellar’s native currency) currency until further notice, and the Coin Base exchange has announced that it is investigating the matter.
At the time of writing, XLM is ranked 13th on QuinmarketCup, with a market capitalization of more than $ 26 billion. The Stellar network strives to provide banks with an accessible and convenient payment system and to facilitate international transactions.