It appears that a technical glitch has recently caused a dramatic drop in on-chain transactions for the Zilliqa project. The glitch appears to have been caused by an issue involving a contract storage order of operations. This is an issue that affects how smart contract calls should take place when interactions between users are taking place.
The team at Zilliqa is working to address the issue and is looking into the root causes of the glitch. In the meantime, they are urging users to be extra cautious when transacting and that they should retry failed transactions again in the near future. The Zilliqa Team is also communicating with major exchanges to ensure that they have turned off deposit/withdrawal services while the issue is being fixed.
In addition, the Zilliqa team is currently working on an updated version of their Mainnet’s Jaggy script execution. The update should improve the transaction processing performance as well as optimize the order of operations for tackling storage transactions. They hope that this will help mitigate the current issues and that the project will be back on track shortly.