The Terra blockchain was officially halted at the vote of validators earlier on May 12. This resulted in the blockchain going offline at block height 7603700.
This halt occurred during the price of Terra (LUNA) reaching new lows. Terra saw prices dip below $0.01 earlier in the morning. The price of the coin has not recovered or been impacted by the halt. TerraUSD (UST) did not see a significant price change after the halt, maintaining an unstable price between $0.30 and $0.40.
A 2-hour halt
The blockchain came back online a little before 2 hours after the halting of the network was announced. The blockchain came back up with Delegations being disabled. This prevents users from pledging their coins to validators. This change was made due to the severe price drop of the Terra governance token and attacks resulting in the drop.
Originally Posted on Crypto Crossing
Congratulations @cryptocrossing! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):
Your next target is to reach 40 posts.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Support the HiveBuzz project. Vote for our proposal!