![Ethereum [ETH]: Outage plagues the network as it has trouble finalizing transactions](https://i.headtopics.com/images/2023/5/13/cryptoamb/ethereum-eth-outage-plagues-the-network-as-it-has--ethereum-eth-outage-plagues-the-network-as-it-has--1657151918664306697.webp)
Ethereum starts to face issues on its beacon chain. Developers state their opinions as validators continue to rise on the network.
, the beacon chain of the primary Ethereum network encountered an issue for approximately 30 minutes. It is currently being investigated by the developers.One of the developers stated that the beacon chain stopped finalizing transactions for about thirty minutes, but the cause of this issue was unknown. “Finalizing” refers to the process where transactions are confirmed and added to the blockchain.
However, the incident highlights the importance of ongoing development and improvement of state caching in order to enhance the performance of the network during times of degradation. Despite the problems on the Ethereum network, validators continued to show interest in the network. Over the last week, the number of validators on the network grew by 0.87%. At press time, there were 566,559 addresses on the Ethereum network.However, ETH didn’t observe the same level of positivity. In terms of price, ETH declined by 3.10% in the last 24 hours. Traders didn’t show any optimism either.
This increase in bearish sentiment accompanied a massive decline in Ethereum’s Implied Volatility as well.
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