Zilliqa (ZIL) team offers a solution for stuck transactions

As the new year started, crypto prices continued their rapid rise to new heights. However, not every crypto project is enjoying this time of year, particularly Zilliqa (ZIL), which started experiencing certain technical difficulties. The problems with transactions being stuck in crypto exchanges caused quite a bit of concern, and so the ZIL team decided to address the matter.

Zilliqa transactions rejected: The team addresses the situation

The ZIL team took to Twitter yesterday, to explain what happened with the users’ transactions and their funds. On January 3rd, they explained that there were certain technical issues on some exchanges where withdrawals became impossible.

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ZIL holders who tried to withdraw their coins started receiving error messages and received incorrect counter. The ZIL team explained that some transactions were supposed to be rejected, as there was something wrong with them. However, these rejections also started affecting legitimate transactions, that came after the rejected ones.

According to the team, the problem lies in a numbering issue, which caused the platforms to automatically reject valid transactions, as well. But, they assured the users that their funds are safe, and they even tweeted the solution.

ZIL team already has a solution

Zilliqa team assured the users that affected exchanges have already started resending the transactions. Meanwhile, the team itself is sending their SDKs (Software Development Kits) that will improve the way the exchanges handle transactions.

They stressed once more that the users’ money is safe, and that ZIL holders can track transaction confirmations on viewblock.io.

Meanwhile, the ZIL community — originally confused and concerned — now seems quite pleased with the team’s efforts.

Since the issues emerged, many ZIL community members noted that the issues started after the recent update on December 26th. However, with some exchanges affected and others functioning without issues, many assumed that the problem lies with the platforms, and not Zilliqa itself.

As for Zilliqa, the project saw a 20% price drop on a weekly basis, after growing to $0.0886 on January 1st. At the time of writing, the ZIL price sits at $0.0699. Meanwhile, its price volume dropped from $414.6 million on January 1st to $196.8 million on January 3rd, only to rise again today, January 4th, to $322 million.