Cryptocurrency has a network outage and stops producing new blocks

The cryptocurrency network dash started the week with a complete outage, leading to problems generating new blocks and worrying miners and the Binance brokerage.

Formerly one of the largest in the market, Dash has lost a lot of prestige since 2017 when the craze for masternode cryptocurrencies came to an end. The investment to become a Dash masternode has already cost more than 2 million reais, but those who invested in the asset have accumulated losses over the past few years.

For the past few days, the network has been waiting for another update to improve its structure, and now it lives with a desperate fight against the clock so that the project does not die for good.

Dash CTO Confirms Total Failure, Says Struggling To Restore Blockchain

Early this Monday morning (22), Dash Core Group CTO Samuel Westrich took to Twitter with some unpleasant news for the community.

According to him, the block production malfunction of Dash came while a new version of the altcoin’s Core was being enabled. In a note, he states that the entire team is committed to solving the problem.

“A problem occurred during the activation of Dash Core v19. The chain is stationary and is not currently producing blocks. We are all investigating the problem. I will continue to update on Twitter as soon as we have more information.”

Despite the CTO’s comment, as found by the live coinsBlock production on the Dash blockchain has already been at a standstill for 13 hours, according to Blockchair data.

Dash accumulates 13 hours without producing new blocks with network crash
Dash accumulates 13 hours without producing new blocks with a network/Blockchair crash.

Despite the pause of new blocks on its network, the price of the DASH cryptocurrency is down just 0.22% over the past 24 hours, trading at $43 per unit.

Binance suspends Dash rewards

The worst consequences of Dash’s suspended network are the miners themselves who still believe in the coin and still keep their machines on to validate ecosystem transactions.

In a note, Binance Pool stated that it has temporarily suspended Dash rewards while the network is not normalizing.

“Due to the situation after the activation of Dash Core v19, the Dash Network (DASH) has temporarily suspended the production of new blocks. As such, Binance Pool will temporarily suspend distribution of DASH mining rewards until the network resumes block production. No more advertisements will be placed.”

Dash Community has released fixes, but says the situation is still risky

On Monday afternoon, the Dash community noticed the arrival of a solution to the problem. Now everyone is waiting for the Matrons and miners to update to the new version.

Despite the update to fix the problem, Dash itself acknowledges that the new update contains bugs, which everyone should be aware of. Apparently, the network can be up and running again in a matter of hours, but still without the expected full security.

“This release should fix the network outage once enough masternodes and miners are updated. Please be aware of the known issues listed in the release announcement. A re-index may be required.”

With a once promising past, Dash has accumulated a 97% devaluation of its dollar price since the end of 2017. Thus, many who invested in the project stopped accumulating declines and the recent problem does not help the currency, which entails risks leaving the TOP 100 market cap after losing faith in the community.

Source: Live Coins

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