Canto Chain is a layer 1 blockchain based on Cosmos, which is planned to System upgrades to address recent extended outagesThe chain disclosed that it was interrupted for 33 hours due to network consensus issues.
In addition, the power outage occurred at the chain’s “Callisto” upgraded on Friday. However, consensus issues caused the Canto mainnet to crash at 18:43 (UTC) on Saturday.
Canto Chain suffered a 33-hour outage and is preparing for upgrade
Canto Chain has been arranged Upgraded on August 12 to resolve 33-hour outageThe chain’s mainnet has been suspended since around 18:43 UTC on Saturday while undergoing a “Callisto” upgrade.
The first layer of blockchain take At 12:00 UTC on August 12, the Bitcoin network announced the upgrade plan on its official X account. First, the network acknowledged Consensus issues that caused recent outages.
The Canto chain is currently experiencing consensus issues, causing the chain to halt.
To resolve this issue, an upgrade will be performed on Monday, August 12th at 12:00 UTC.
All funds are safe. Once the chain is restored, users will be able to access all activity…
— Canto (@CantoPublic) August 11, 2024
Blockchain said, The Canto chain is currently A consensus question This caused the chain to stop. An upgrade will be made on Monday, August 20 to resolve this issue. 12, UTC time 12:00.”
Usually a consensus mechanism is needed to Verify and finalize cryptographic transactions before adding them to the blockchainTherefore, the consensus problem will not allow any transactions to be recorded on the blockchain, as such transactions will appear to be unauthentic.
data Data from block explorer CantoScan indicates that Canto Chain has been down for more than 24 hours. It also states that the last transaction on the network took place on August 11, in block 10847516, at 2:29 a.m.
and, Etherscan No new transactions have been recorded on the Canto network in the past 33 hours. The last two recorded transactions Occurred in the past 46 hours.
Canto Chain says customer funds are safe
During this outage, Canto chain assured users that all funds on the platform are safe. It also promised that after the issue is resolved, users can access their funds and continue other activities on the platform.
The network noted that,All funds are safe. Once the chain is restored, users will have access to all activity as usual.”
It is worth noting that the Canto chain Unlock “Callisto” upgrade. However, the upgrade caused the mainnet to crash at around 18:43 UTC on Saturday. As a result, the blockchain was unable to execute transactions thereafter.
Canto was born in 2022 and is a license-free Universal and EVM-compatible blockchain. Its main focus is to enable EVM-compatible applications to freely access the decentralized finance (DeFi) space.
Last year, Canto Disclosure It intended to migrate Ethereum as a layer 2 network through an upgrade. However, in March 2024, it abandoned this move. Decide arrive Still a Layer 1 Blockchain.
Neofinance Scaling – Canto is migrating to ZK-based Ethereum L2, which is built on @0xPolygon CDK.
this @CantoPublic The community will tap into Ethereum’s deep liquidity through a shared ZK bridge without sacrificing user security — a big step towards new finance.https://t.co/8uDhLYk1G9
— Polygon|Aggregate (@0xPolygon) September 18, 2023
Meanwhile, Canto activity has surged in 2023, with the CANTO/USD pair increasing by nearly 530%. data DefiLlama revealed that the token’s price has fallen. Canto currently has Total locked value (TVL) is $12.74 million Becoming the 80th largest network by TVL.
Although CANTO’s price has fallen due to the prolonged network outage, the token Showing a clear recovery. according to data According to CoinMarketCap, CANTO was trading at $0.04308 as of 6:52 a.m. EST on August 12.
In addition, the token Soared more than 8% In the past 24 hours.
Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
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