Celo Network Halts Operations Amid Uniswap Smart Contract Deployment

Blockchain platform Celo has suspended work on block #14,035,018, the project has reported on Twitter.

According to Celoscan, the network has not produced blocks for more than seven hours now. The project developers have said that blockchain validators are studying the problem and looking for solutions.

Shortly before the incident, decentralized exchange Uniswap v3 deployed its smart contracts on the Celo network and that user funds are safe.

Celo describes itself as a “mobile-centric” and “carbon negative” blockchain. The EVM-compatible network has 2.6 million addresses with 1.1 million daily transactions on average. Through the Mento smart contract platform, the project supports several algorithmic stablecoins.

The deployment of the Uniswap v3 protocol on the network involves the creation of liquidity pools of “green assets” from Celo, such as tokenized carbon credits.