Blockchain is based on evidence that Celo shares have suffered a 24-hour on-and-off network disruption, although the blockchain appears to be back up and running right now.
Celo is an open source blockchain that allows users with phone numbers to make payments in cryptocurrencies using their phone numbers as proxies for public keys.
Celo updated its Twitter followers after the network’s return, noting that this was the network’s first outage since the launch of the main network on April 22, 2020, and that it had begun “quick and thorough technical analysis” to delve into the issue.
The protocol made the initial announcement that the network had stalled on July 14 at 12:04 a.m. (UTC) at block 14,035.019, ensuring that “all funds are safe”.
It resumed about nine hours later for several minutes before pausing at block 14,035,045.
At the time of writing, the network appears to have resumed operations after upgrading the authentication buttons to version 1.5.8, according to a Celo block explorer.
On the protocol’s Discord channel, one of the network validators with the username “Dee” said they considered the most recent outage “part of the growing difficulties” of the network but that they still believed in the basic principles as it was the first network to shut down more than two years ago.
“Even Visa has experienced network outages over the past two years despite having led the market in payments for more than 60 years.”
The Celo protocol’s white paper states that it allows users to send payments “as easily as sending text messages.”The network gives an average block time of five seconds, is compatible with Ethereum virtual machines and supports smart contracts and decentralized applications.
The Celo network is also the protocol behind three stable currencies – Celo Dollars (cUSD), Celo Euro (cEUR) and Celo Reals (cREAL) as well as its original Celo token (CELO).
Earlier this week, the Helium network was interrupted for four hours due to an authentication error from a software update, causing the final process of the transaction to be delayed.
On June 1, the Solana network experienced another outage, causing block production to be halted for four and a half hours.It was one of seven losses in the past 12 months.