Tuesday, January 31, 2023

Following a nine-hour shutdown, as validators devised a strategy to end the chain’s situation, Terra blockchain activity has resumed. Terra Blockchain shutdown

  • Late on Friday afternoon, the blockchain was stalled at block 7607789.
    Then, blocks 7607790 and 7607791 came through at roughly 11:27 UTC, respectively.
  • Terraform Labs, the firm behind the Terra ecosystem, said on Twitter that network validators had blocked on-chain swaps and that IBC protocols had been closed following the restart of the blockchain.
    Off-chain assets like bETH were urged to be “bridged” back into the main chain.
  • LUNA was trading at roughly $0.008 and terraUSD (UST) was trading at around $0.19 at the time of the network shutdown.
    Currently, the assets are valued at $0.00003 and $0.16, according to CoinMarketCap statistics.

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