Celo blockchain halts operations
The incident occurred after the Uniswap V3 decentralized exchange was deployed on the network
14.07.2022 - 12:00
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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.
The Celo network has stalled at block 14,035,19. Validators are working to identify and resolve the issue. All funds are safe. Updates will be provided as soon as possible.— Celo (@CeloOrg) July 14, 2022
What is the reason for the halt? The incident occurred after the deployment of the Uniswap V3 decentralized exchange (DEX) on the Cello network.
#ReFiSummer continues as Uniswap V3 deploys on Celo today! 🎉Find out what this means ⤵️ 🧵 pic.twitter.com/G4xgSSZyYM— Celo (@CeloOrg) July 13, 2022
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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