Ethereum withdrawals briefly halted on the Binance exchange due to a minor fork

Quick take

1 minute read

• It seems that a hard fork took place on the Ethereum network earlier today as reports have surfaced on numerous irregularities from infrastructure providers Infura and Blockchair.

• Infura is a hosting service used by numerous platforms all over the world and a service provider which helps interact with the Ethereum network and it was initially believed to be an internal issue on this platform.

It seems that a hard fork took place on the Ethereum network earlier today as reports have surfaced on numerous irregularities on infrastructure providers Infura and Blockchair.

Infura is a hosting service used by numerous platforms all over the world and a service provider which helps interact with the Ethereum network and it was initially believed to be an internal issue on this platform.

As the fork occurred on the network, the Binance exchange halted all of its withdrawals with the chief executive officer of the platform, CZ referring to a “possible chain split“ as a reason behind it.

A well-known block Explorer, known as Blockchair, reported a discrepancy in regards to the blocks it noticed and those published by Etherscan. Two explorers started to show two different blockchains after block 11234873 too.

The team have published an image that indicates at least 14 blocks were mined on a minority chain. This seemingly shows that some miners are having a negative impact on the issue too.

Peter Szilagyi, the lead for major Ethereum node software Geth has indicated that the first action should be to upgrade the newest release and it didn’t take long after this for Blockchair to note that upgrading Geth had fixed the issue.

They specifically highlighted that there was likely an unplanned incompatibility introduced in the new version by developers on Geth.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.