The incident occurred after the Uniswap V3 decentralized exchange was deployed on the network

Celo blockchain halts operations

14.07.2022 - 12:00


2 min

What’s new? Celo blockchain has halted operation at block 14,035,19. According to statements on the official Twitter, all user funds are safe and validators are working to identify and fix the problem.

What is the reason for the halt? The incident occurred after the deployment of the Uniswap V3 decentralized exchange (DEX) on the Cello network.

There has been no official comment on the link between the deployment and the network’s shutdown from the platform’s representatives yet. At the time of writing the news, no new blocks have been produced on the network for 13 hours (Celoscan data).

Celo is an open-source Layer 1 (L1) protocol with a Proof of Stake (PoS) consensus algorithm that is fully compatible with the Ethereum Virtual Machine (EVM). It provides access to decentralized finance (DeFi). The network is focused on the use of smartphones, users’ cell numbers are used as public keys. At the end of 2021, the Kickstarter crowdfunding platform announced preparations for the transition to Celo. As of July 14, 12:10 UTC, the native token, CELO, is trading at $0,824, down by 0,96% per day, according to Binance.

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