EOS Transactions “Freeze” After MainNet’s Crash

While the BPs are focused on identifying and resolving the issue, all EOS transaction on the MainNet appears to be paused. The reasons behind the crash remain unclear, with a Mainnet Status Update posted on Steemit that guarantees the issue will be addressed and resolved.  

EOSUK, an EOS' BP applicant, stated that multiple BPs are seen as red on the EOS arrange screen, suggesting that the application programming interfaces (APIs) are unresponsive.

The crash is likely caused by a DDoS assault, as mentioned in EOSUK’s Twitter account: "Bunches of RED on the EOS Network Monitor as EOS Mainnet Crashes."

The BPs and Standby Nodes achieved progress quickly, as an hour after the crash they released on Steemit that they’ve identified a method for unpausing the chain. They also stated that Mainnet would restore its normal functioning in three to six hours time.

This incident immediately affected the coin’s market price, marking a slump in EOS’s price of 4% and a 10% shrink of the trading volumes, shrinking the trading volumes by 10%. This suggests a significant level of unpredictability in the token’s behavior in the next six months.

However, the leverage of the coin in its ICO phase could lead to changes, including hard forking. EOS is one of the ICOs that left a mark in cryptocurrency history, as it placed itself as one of the most influentially financed ICO, rounding up an overwhelming $4 billion hours before its official release. It aims to become an Ethereum competitor as a platform for decentralized applications (DApps), as its inter-blockchain communication channels have been established.