Blockchain network Stellar stopped confirming transactions for two hours on May 15

Blockchain network Stellar (XLM) stopped confirming transactions for two hours on May 15, executives confirmed following a user post on social media.

Stellar, whose lumens token is currently the eighth-largest cryptocurrency by market cap, went down entirely for around 110 minutes Wednesday.

The cause, it appears, was a mass offlining of Stellar Development Foundation (SDF) nodes, which the majority of the network trusts.

Accordingly, other participants failed to find consensus for blocks, and no transactions were validated until developers resolved the issue.

“I really hope we’ll get a real debate about decentralization after this event. And about the strategies to achieve this decentralization,” the user, Reddit user u/cryptobrant, commented after flagging the issue. The user continued:

“The more the network grows and the more newcomers trust always the same nodes, the more difficult it will get to achieve decentralization.”

Also read: Blockchain data provider TokenAnalyst: capital outflows from major crypto exchanges have exceeded inflows by ~$622 million over the past five days

Source: https://cointelegraph.com/news/stellar-node-outage-causes-two-hour-complete-transaction-freeze