The Liquid Network sidechain has not added new blocks for more than 14 hours. The network is seeing a rise in unconfirmed transactions.
“We are aware of an issue with the Liquid Network, and we are working to resolve it as soon as possible. Please follow updates on our account,” the project team said on Twitter around 01:30 MSK.
According to the developers, the outage is linked to a recent update to the block-signing function, and engineers are investigating the issue.
They assured that users’ funds were not affected.
Blockstream began testing Liquid as a solution for fast and inexpensive large Bitcoin transactions in 2015. Commercial deployment of the sidechain started in 2018.
According to this block explorer, just over 3390 BTC are locked in the network. According to the site, Liquid Network processes about 500 transactions per day.
As noted, another second-layer solution for Bitcoin, the Lightning Network, accelerated development after the addition of Twitter donations in cryptocurrency and the legalization of digital gold in El Salvador.