Unraveling the Cause of the Outage
To restore functionality, validators had to be re-established from a stable reference point. Once a sufficient number of nodes reached consensus, the network resumed operations. However, Schwartz acknowledged that this initial assessment might not be entirely accurate. He even entertained the possibility that the network self-corrected without external intervention, given that only a handful of Unique Node List (UNL) operators made adjustments.
Despite the disruption, Schwartz reassured the community that no validated ledger data was lost, emphasizing that servers likely refrained from sending validations because they detected an anomaly.
Bitcoin Advocates React to XRPL Downtime
The outage fueled criticism from Bitcoin supporters, some of whom took to social media to mock XRP’s reliability. One detractor sarcastically noted that the downtime had no real impact since “no banks use it.”
David Schwartz swiftly countered the criticism by noting that Bitcoin, too, has experienced network-wide failures in the past. He cited two notable incidents: an eight-hour outage in 2010 and a six-hour disruption in 2013. Furthermore, Schwartz pointed out that Bitcoin occasionally experiences hour-long transaction confirmation delays, underscoring that no blockchain is completely immune to disruptions.
A Broader Crypto Rivalry and Market Impact
The outage triggered a sharp 6% decline in XRP’s price, which significantly underperformed the rest of the cryptocurrency market. Although the network has regained stability, the incident has reignited concerns about the XRP Ledger’s (XRPL) reliability and its ability to maintain trust within the cryptocurrency community.
As investigations continue, the XRP community awaits a more detailed post-mortem to understand what went wrong and what measures can be implemented to prevent similar occurrences.
