The Avalanche (AVAX) network experienced a temporary shutdown of its C-Chain (smart contracts) and X-Chain (cross-chain transfers) following a software upgrade to version 1.9.12. This disruption caused transaction delays, halted block production, and prompted exchanges like UpBit to suspend AVAX deposits/withdrawals temporarily.
Key Details of the AVAX Outage
Affected Chains:
- X-Chain: Slowed to near-unusable transaction speeds.
- C-Chain: Stopped producing new blocks entirely.
Root Cause:
- A critical bug in the v1.9.12 upgrade triggered network instability for over an hour, as confirmed by AVAX co-founder Kevin Sekniqi.
Resolution:
- The team deployed v1.9.14 to fix the bug and stabilize the network. Validators were urged to upgrade immediately.
Potential Market Impact
- Price Volatility: Historical precedents (e.g., Solana’s repeated outages) suggest such events often lead to token value declines.
- Investor Caution: Experts advise monitoring AVAX’s recovery closely, as prolonged technical issues could erode confidence.
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FAQs
Q: How long did the AVAX outage last?
A: Approximately one hour before v1.9.14 restored functionality.
Q: Which exchanges suspended AVAX services?
A: UpBit and others temporarily paused deposits/withdrawals during the incident.
Q: Could this affect AVAX’s long-term adoption?
A: While short-term price dips are possible, swift resolution may mitigate reputational damage.
Proactive Measures for Validators
- Immediate Action: Upgrade to v1.9.14 to ensure network stability.
- Monitor Announcements: Follow Avalanche’s official channels for real-time updates.
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