Ethereum Faces Second Transaction Validation Issue in 24 Hours
The Ethereum network has experienced another validation issue, with validators unable to participate in transaction validation for over an hour.
Ethereum Faces Second Transaction Validation Issue in 24 Hours
Image: Bankless
Prysm patch for mainnet incidents is out. 🚨
— terence (@terencechain) May 13, 2023
Recommend upgrading if your node is under heavy stress! 🙏 https://t.co/rFUOwJYNka
Update: May 13, 2023
On the afternoon of May 13, Ethereum developers released an emergency patch for Prysm clients affected by the recent transaction validation issue.
Original Post:
Around 12:00 AM on May 13, the Ethereum network encountered a technical issue once again, preventing blocks from being validated and stored on the blockchain.
This incident lasted nearly an hour and a half, more severe than the previous issue reported just 24 hours earlier in the early morning of May 12.
— lightspeed mert | helius.xyz (@0xMert_) May 12, 2023
Ethereum developers have yet to identify the root cause of the system failure, causing significant concern within the community regarding the technical stability of the world's second-largest blockchain.
Mainnet just finalized but not out of the woods. Clients are releasing patches today. Stay tuned
— terence (@terencechain) May 12, 2023
When Ethereum fails to validate transactions, the blockchain enters an "inactivity leak" state. In this state, senders do not receive rewards for transactions validated on the blockchain, while validators who cannot connect to the network face penalties.
Some experts suggest that the core issue may stem from a malfunction in a node client used by validators, although these clients are still in the process of being patched.
We've tagged v4.0.4-rc.0 for Prysm which has the fix, but we haven't had time to test it thoroughly.
— prestonvanloon.eth (@preston_vanloon) May 12, 2023
As a result, there are warnings that the transaction validation issues might occur a third time on Ethereum.
"The second incident has ended, but I anticipate a third issue. Try upgrading your node hardware if possible and switch to a less used client. However, things aren't as bad as they seem. The blockchain is still processing transactions and eventually validating them."
Most developers assure that the issue only impacts validator transaction validation, and the blockchain itself continues to operate normally. User transactions are still being recorded on the blockchain, though they may experience delays in processing.
The second wave is over, but I fully expect a third. Increase your hardware spec if you can, switch to a minority client if you can. Apply patches when they're available. But really, don't worry too much. As bad as this looks, the chain keeps going and eventually finalizes.
— superphiz.eth 🦇🔊🛡️ (@superphiz) May 12, 2023
Nonetheless, this issue undoubtedly affects the operations of multi-billion-dollar protocols built on Ethereum. The dYdX DEX, for example, had to announce a halt on deposits until the issue was resolved.
