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Stellar (XLM) Node Collapse Provokes Brief Transaction Halt, XLM Still Spikes Staggering 22%

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Thu, 05/16/2019 - 13:58
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Yuri Molchan
On May 15, Stellar DLT suffered a transaction halt for two hours reported by a Redditor; still, on May 16, XLM recorded the highest gains among top 10 coins
Stellar (XLM) Node Collapse Provokes Brief Transaction Halt, XLM Still Spikes Staggering 22%
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On Wednesday, a Redditor reported a collapse in operations on the Stellar (XLM) network when all transactions stopped due to lack of verification. It proved to be a temporary overall switch-off of all nodes run by Stellar Development Foundation (SDF).

Lack of consensus between nodes on Stellar

A representative of SDF confirmed the problem in the Reddit comment thread and said they were doing their best to resolve the issue.

The break in the platform’s work lasted nearly two hours. Allegedly, some participants of the network were unable to come to consensus about blocks, so transactions were suspended until the issue was solved.

This brought up comments regarding a debate about decentralization that was attempted earlier within the network. The Redditor who made the post in the first place commented:

I really hope we’ll get a real debate about decentralization after this event. And about the strategies to achieve this decentralization.”

A recent Medium article discusses the situation with Stellar’s nodes, saying that a while ago Stellar was ‘very centralized’ and adding that the goal now is to make the network more decentralized by adding more nodes. The article also speaks of the issue that actually took place as an example of a possible turn of events.

…an outage of all SDF nodes or a network disruption between SatoshiPay and SDF would have brought our nodes to a halt.”

Related
Ethereum, XRP, XLM Surge Highest Along with Bitcoin, McAfee Criticizes ETH

XLM market stance

When the outage took place, the XLM token faced a wave of volatility but still as Thursday started, it surged by over 22 percent and was the best performing coin among altcoins on the top ten list.

At press time, the token shows an 11.21 percent rise, trading at $0.133.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.