Privacy-focused Zcash blockchain has not produced a block for four hours
Key takeaways
- Think of the blockchain as a ledger that keeps growing as new transactions are added.
- According to Zcash block explorers, the most recent block was number 3,364,601, created at 5:27 AM UTC on June 3.
- Zcash's native token ZEC has surged 8% over the past week, according to CoinDesk data, bucking the broader market weakness.
UTC, an unusual outage for a network that typically adds a block about every 75 seconds.The privacy-focused Zcash network completely stopped creating new blocks for more than four hours on Wednesday, a rare and worrying pause for the system.
Think of the blockchain as a ledger that keeps growing as new transactions are added. Each “block” is a new entry in the ledger. So, when the network stops making new blocks, no new transactions can be confirmed. This is like the entire payment system freezing for several hours.
According to Zcash block explorers, the most recent block was number 3,364,601, created at 5:27 AM UTC on June 3. After that, no new blocks appeared for over four hours. Normally, Zcash adds a new block roughly every 75 seconds (just over a minute).