The Celo blockchain is experiencing downtime following the unexpected cessation of new block generation on the network. On Wednesday at 6:20 p.m. ET, block #14,035,19 of the network was shut down. In the meanwhile, all apps on the chain remain inoperable.
Celo’s proof-of-stake network could not verify new transactions for nearly nine hours until block production was temporarily resumed for a few minutes on Thursday at 3:39 a.m. ET. Nonetheless, the chain stalled once again at block 14 035 044.
The most recent statement from Celo claimed that network validators were working on a solution to bring the network online. The team has not yet disclosed the cause of the outage.
“Validators are working to identify and resolve the issue. All funds are safe. Updates will be provided as soon as possible,” the team wrote on Twitter.
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
Although this was Celo’s first network outage, its core staff had previously dealt with bridge-related technical challenges. Optics, Celo’s bridge between Ethereum and Polygon, had a significant security flaw in November 2021, necessitating an urgent update.
In April 2019, Celo, an Ethereum Virtual Machine-compatible blockchain, secured $25 million from venture capital companies, including Horowitz and Polychain Capital. Today, Celo runs decentralised Ethereum exchanges such as Uniswap and Sushiswap. In addition, it houses its native applications like Valora, Mento, Moola Market, UbeSwap, and Mobius Money.