Avalanche Network Halts Due to Inscription Issues

Network Outage

Avalanche, a layer-1 blockchain, experienced a network disruption preventing block production for nearly two hours. The stoppage was reported on the network's status page.

Technical Challenges

Ava Labs' co-founder linked the problem to a surge in inscriptions, which are records of data on the blockchain without smart contracts, reminiscent of NFTs on Bitcoin. The network's developers are diligently troubleshooting the block finalization hitch that is currently halting the primary network's block acceptance.

Market Impact

During the block production pause, Avalanche's native currency, AVAX, saw a modest decline of 1.5% in value. This event comes in the wake of a similar, but lengthier, outage that affected competitor Solana earlier in the month.