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In a recent development, Terra (LUNA) reported an unusual increase in blockchain network activity.
Transactions Are Disrupted Due to Extreme Congestion on the Terra (LUNA) Blockchain
This increase in traffic caused some users to experience difficulties when transacting on the platform.
Terra's official altcoin developer team has confirmed the situation and is currently investigating the issue. “We are observing an increasing amount of activity on the Terra blockchain,” the team said. They also added, “Please note that during this period of increased traffic, some users may encounter problems when transacting on Terra.”
The team reported that it is actively trying to find solutions to alleviate network congestion. However, he added that they will release a new update when they find a solution to the problem.
Recently, there have been congestions in many blockchain networks, and it is thought that the reason for these is additions such as images, videos, and texts added to blockchains, generally called inscriptions. Due to this concept, which is especially popular on the Bitcoin network, transaction fees on the BTC network have risen to the highest levels in recent times.
It is not yet known whether the congestion on the Terra blockchain is similarly due to inscriptions or another reason.
Any new updates from the developer team will be added here whenever they arrive.
*This is not investment advice.