Block production on Blockstream’s Liquid network resumed after technical issues related to a functional upgrade resulted in many transactions pending for hours.
In an October 5 update from a Liquid supervisory board member identified only as Wiz, Liquid’s secured fallback mode to be was activated yesterday because “an unexpected problem occurred that prevented block signer nodes from validating certain parameters with each other”. As a result, the network stopped producing blocks and transactions for approximately 22 hours starting October 4 at around 5:19 p.m. EST.
Wiz reports that Liquid developers have updated 10 out of 15 features, with block production expected to resume once another is fixed. Pending liquid transactions were queued in the mempool until the nodes were upgraded, this is now completed as a network report Block has arrived.
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First announced in 2015, Liquid is designed as a Bitcoin (BTC) sidechain to speed up BTC transaction processing for crypto exchanges. The network supports its BTC-linked LiquidBTC (LBTC) token – there are currently 3,293 in circulation. In addition, the Liquid Federation has 57 members, including the cryptocurrency exchanges Bitfinex, BitMEX and Huobi.