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BCH $511.24 (2.61%)
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Ethereum Network Suffers Major Downtime Due to Geth Bug

Ethereum Network Suffers Major Downtime Due to Geth Bug
  • The Ethereum network suffered major downtime yesterday.
  • Binance stopped its ETH withdrawals amid the Ethereum network’s issues.
  • DeFi space went down as the Ethereum bug splits the network.

Ethereum network suffered a major downtime yesterday due to a bug in the Go Ethereum (Geth) client. In a service announcement, Infura, an API provider for the Ethereum network, says it is experiencing an outage.

As a result, the Ethereum mainnet goes down along with the other applications and services connected to it. The unannounced new code change into the previous Geth update resulted in this incident.

This caused a bug in the Ethereum network, splitting its blockchain into two. In addition, it affected several Geth versions. These include 1.9.9 and 1.9.13. However, the components running in versions 1.9.19 and later were unaffected.

Blockchain developer Nikita Zhavoronkov thinks an investigation is in order:

Furthermore, the DeFi space is no excuse for the outage, since most of its applications rely on Ethereum. Its popular applications like Metamask, MakerDAO, Uniswap, Compound, and MyCrypto went down in their operations. On the other hand, Binance halted its Ethereum withdrawals after noticing conflicting transactions on the ETH node.

Moreover, Infura, on the same day, apologized for the disruption that occurred in the Ethereum network. On November 11 at 14:42 PM (UTC), Infura released an update that all service subsystems have recovered and are back to normal operations. Nevertheless, they will still continue to monitor the system for its continuous recovery.

More so, Ethereum is a few days away from its Ethereum 2.0 launch. The report says the upgrade enhances the technology of the ETH network by shifting from PoW to PoS.

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.