Celo validators restart blockchain after extended outage
The Celo blockchain platform paused operations at block 14,035,018. The project team said that user funds are safe.
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
According to the analytics site Celoscan, the network has not produced blocks for more than seven hours. According to the developers, the blockchain validators are studying the issue and looking for a resolution.
The Celo validators restarted the network after the outage on July 14. Earlier, the project’s developers released a client update that \”addresses the issue related to block size and message throughput\”. The team stressed that user assets were not affected and pledged to share more details after conducting a technical analysis.
Update: Celo validators have resolved the network’s first outage since mainnet launch on April 22, 2020. A thorough and expedited technical analysis is ongoing and details will be readily shared with the Celo community.
— Celo (@CeloOrg) July 15, 2022
Shortly before the incident, Uniswap v3 deployed its smart contracts on the Celo network.
It’s officially #ReFiSummer 🌱🌞@CeloOrg is now available on the Uniswap interface, joining @ethereum, @optimismFND, @arbitrum, and @0xPolygon.
Start swapping today 👇https://t.co/wpJdNvo19P https://t.co/DGRx7FTQSY
— Uniswap Labs 🦄 (@Uniswap) July 13, 2022
Celo is positioned as a “mobile-first” and “carbon-negative” blockchain. The EVM-compatible network counts 2.6 million addresses with around 1.1 million daily transactions on average. Through the Mento smart contract platform, the project supports several algorithmic stablecoins.
The deployment of the Uniswap v3 protocol on the network is expected to create liquidity pools for “green assets” from Celo, such as tokenized carbon credits.
The nonprofit Celo Foundation, backing the development of the blockchain platform, also promised to launch a $10 million Uniswap user incentive program and provide the exchange with additional financial support in the future.
The price of the native Celo token (CELO) barely reacted to the incident. Over the past 24 hours the asset rose 2.2%, according to CoinGecko.
In July 2022 hackers attacked Uniswap liquidity providers through a fake airdrop.
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