Ripple's XRP Ledger experienced a network halt

Ripple's XRP Ledger experienced a network halt

Ripple's XRP Ledger experienced a network halt lasting over an hour on February 4, but has since been restored, as confirmed by the company's chief technology officer, David Schwartz. The disruption occurred at block height 93927174, where network activity was frozen for 64 minutes before rebooting at 10:58 am UTC. Schwartz noted that while consensus appeared to be functioning, validations were not being published, causing a disconnect in the network. Validator operators had to manually intervene to establish a coordinated ledger stream, although the exact cause of the issue is still under investigation.

 

Despite the incident, customer funds remained secure, and only a small number of validator operators needed to make adjustments for the network's recovery. The halt potentially delayed around 88,000 transactions, raising questions about the centralized nature of the XRP Ledger compared to more decentralized networks like Ethereum.

 

During the network disruption, XRP's price dipped to $2.45 but subsequently rose to $2.53. The token has seen significant gains recently, increasing by 396% since the U.S. election. Ripple's CEO is also advocating for XRP to be recognized as a U.S. reserve asset.

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