Binance briefly pauses Ethereum withdrawals as network suffers ‘minor hard-fork’

Published at: Nov. 11, 2020

The Ethereum (ETH) network has suffered what looks like a hard fork today as reports emerged of outages and irregularities on infrastructure providers Infura and Blockchair.

While initially it was believed to be an internal issue in Infura, a hosting service used by some exchanges and service providers to interact with the Ethereum network, independent node operators have reported issues as well.

During the incident, Binance paused withdrawals, and its CEO Chanpheng Zhao referred to a “possible chain split” as the culprit. The exchange has since resumed withdrawals as of 10:20 am UTC.

Blockchair, a popular block explorer, reported a discrepancy between the blocks it saw and those published by Etherscan. After block 11234873 at 7:08 am UTC, the two explorers began showing two different blockchains.

An image published by the team shows at least 14 blocks mined on a minority chain, which seems to indicate that some miners suffered from the issue as well.

As developers attempted to triage the issue, Peter Szilagyi, lead for major Ethereum node software Geth, hinted that the first action should be to upgrade to the newest release.

Shortly after, Blockchair reported that upgrading Geth fixed the issue, noting that there was likely an unplanned incompatibility introduced in new versions by Geth developers.

Szilagyi noted that Infura “is using an ancient version of Geth,” and thus could have suffered from a similar synchronization problem.

In a conversation with Cointelegraph, Blockchair development lead Nikita Zhavoronkov said, “it seems that a minor hard fork occurred without anyone noticing it.”

According to him, developers “broke something in the latest releases,” which led to a consensus issue and an unplanned hard fork. Anyone who did not upgrade to the latest version was thrown off the rest of the network. Szilagyi put a different spin to the issue, saying that the new release “fixed a consensus bug.”

Either way, two parts of the network were unable to talk to each other, which caused significant — albeit temporary — issues. However, as of press time, Infura has yet to restore full functionality.

Update: Binance resumed withdrawals at 10:30 am UTC.

Tags
Related Posts
Binance to temporarily suspend ETH and WETH deposits and withdrawals ahead of the Merge
Cryptocurrency exchange Binance announced Monday that it plans to halt all deposits and withdrawals of Ethereum (ETH) and Wrapped Ethereum (WETH) on selected networks, starting September 6th at 2 am (UTC) in anticipation of Ethereum's Merge event. #Binance will suspend deposits and withdrawals for Ether $ETH and Wrapped Ether $WETH on the following networks starting from September 6, 2022 at 02:00am UTC. ETH (Arbitrum) ETH (OP) WETH (RON) — Binance (@binance) September 5, 2022 In the announcement, the company shared a list of tokens and networks that will be impacted during the Merge — Namely ETH (Arbitrum), ETH (OP) and …
Technology / Sept. 5, 2022
Ethereum’s London, Berlin and Shanghai forks and their role in Serenity
Ethereum (ETH) has enjoyed a good run so far in 2021, with its value increasing from about $1,300 at the beginning of the year, to nearly $4,000 in May. However, Ethereum’s price aside, consistent problems on the Ethereum blockchain have brought to light the anger of traders and decentralized application (DApp) developers on the Ethereum ecosystem. Lack of scalability and high gas fees are the main issues. As one of crypto’s biggest platforms for decentralized applications, Ethereum has been dealing with network congestion that reflects the high gas fees that people have had to pay with every transaction. Since the …
Technology / July 14, 2021
Too little, too late? Ethereum losing DeFi ground to rival blockchains
2021 has been a great year for Bitcoin (BTC) and crypto in general. However, Ethereum and the decentralized finance, or DeFi, sector have outshined other niches of the cryptocurrency space, dazzling the community with enormous growth in terms of popularity, engagement and sheer volume, with the total value locked currently sitting at around $56 billion, according to DappRadar. The nonfungible token, or NFT, space is also seeing unprecedented growth. Many believe 2021 is shaping up to be the year of NFTs. However, DeFi continues to thrive, especially on the Ethereum blockchain where developer and user activity surpasses that of any …
Technology / March 11, 2021
Life beyond Ethereum: What layer-one blockchains are bringing to DeFi
Issues with Ethereum congestion and high fees have led to many companies adopting layer-two solutions like Optimistic Rollups, OMG Network and many others. These platforms allow transactions to be created outside of the Ethereum network on what are known as “sidechains,” which then can be reconciled on the main Ethereum network in one simple transaction. These layer-two options are gaining a lot of traction in anticipation of the release of Ethereum 2.0, which aims to solve the current high gas fees through sharding and splitting transactions throughout multiple blockchains. Many projects have been adopting both layer-one and layer-two solutions to …
Technology / April 14, 2021
Ethereum 2.0 set to undergo first hard fork upgrade
Ethereum co-founder Vitalik Buterin published a plan on Monday for the first hard fork of the new Ethereum 2.0 Beacon Chain, tentatively named HF1. The hard fork would allow the developers to introduce several key upgrades to the recently launched Beacon Chain, which would also serve as a useful test for deeper changes in the future. The biggest practical change is the support for light clients — nodes that would have minimal resource requirements and could run on mobile devices. This would allow for “trust-minimized wallets” that are able to verify the blockchain on their own instead of relying on …
Technology / Feb. 15, 2021