Crypto Shock: XRP Ledger Stops Processing Transactions for 64 Minutes
Despite the rapid development of technology in the financial sector, especially with the rise of Web3, technical nuances can negatively affect blockchain stability. Even the most advanced networks experience failures, occasionally leading to temporary shutdowns. In today’s news article, Coinmooner will cover a recent incident that impacted the XRP Ledger blockchain.
Recently, XRP Ledger’snetwork activity was halted at block 93,927,174, and for 64 minutes, no transactions were processed. This event caused concern among users and the crypto community. However, after an hour, developers restarted the system and restored its functionality. Ripple’s CTO, David Schwartz, confirmed the failure but assured users' funds remained completely safe. Currently, XRPL is fully operational again, though the exact causes of the issue are still being investigated. Experts continue their analysis.
Some community members speculate that the XRP Ledger’s halt may have been caused by a failure in the consensus mechanism, which could be linked to the network’s high level of centralization. XRP Ledger has over 200 validators, but the number of nodes included in the Unique Node List (UNL) is significantly smaller. These nodes participate in the consensus process. Critics believe this structure could create potential security risks, making the system vulnerable to coordinated attacks. In their opinion, this incident should signal the Ripple community to reconsider the principles behind the consensus mechanism.
David Schwartz explained that XRPL experienced what he called a "drift." This means that validation checks were not published while the consensus process continued, leading to network fragmentation. As a result, one validator manually selected a stable synchronization point based on the last confirmed ledger. This allowed the network to restore consensus and resume normal operations.
Daniel Keller, CTO of Eminence, a company specializing in blockchain infrastructure solutions, also commented on the situation. He said the XRPL halt was a "planned event" to ensure ledger integrity. He explained that the consensus mechanism is designed to automatically pause operations if more than 20% of UNL validators disagree on the chain's current state. This prevents issues like double spending and data inconsistencies in the ledger.
It’s worth noting that David Schwartz has previously responded to criticism about XRP Ledger’s decentralization. He stated that despite architectural differences, XRPL’s level of decentralization is comparable to blockchain projects using the Proof-of-Work (PoW) consensus algorithm, though implemented slightly differently.
Coinmooner will continue monitoring developments and promptly report on similar incidents. We also remind our readers that in the Web3 industry, it is crucial to use the most advanced and secure protection methods to safeguard assets. Awareness and cutting-edge technology are key to minimizing risks and protecting your finances.
