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The Zilliqa blockchain network faced back to back systems bugs last week which led to complete halting of block production. The development team has restored the blockchain for validators.
Key Notes
The Zilliqa mainnet faced critical network bugs from September 27-29, resulting in a temporary halt in block production.Zilliqa acknowledged the concerns and confirmed that the persistent network issues are unrelated to the upcoming Zilliqa 2.0 upgrade.The development team is actively working on a permanent fix, although full operations have not yet resumed.Last week between September 27-29, the Zilliqa mainnet block production faced critical network bugs halting transactions temporarily until they fixed the issue. On Sunday, Zilliqa proactively reported a system bug that disabled the network from creating new blocks.
Simultaneously, several crypto investors also reported a system bug that disabled the network from creating new blocks. Additionally, several crypto investors reported difficulties while accessing their funds on the native browser wallet ZilPay.
Several community members also voiced concerns regarding the Zil chain, adding that it recovered from a similar issue just two days before on September 27. During the previous instance, the bug significantly slowed the block production while the current bug completely halted the block production. Responding to the concerns raised by the community members, Zilliqa noted:
“Network was operational and working fine until network stopped producing blocks and stalled due to another bug last night. The Zilliqa team is looking into the issue, debugging and attempting to restore the network. Please stay tuned for further updates.”
Additionally, Zilliqa further clarified that the persistent network issues are unrelated to the Zilliqa 2.0 upgrade. This upgrade will focus on cross-chain compatibility along with speed.
Zilliqa rectified the bug on September 27, which slowed down the block production. At that time, it was confirmed that the network was fully operational. However, it’s taking an even longer time to rectify to resolve the September 29 bug.
Note that the Zilliqa blockchain mainnet hasn’t resumed normal operations completely. However, the development team has restored the blockchain for validators and is working on a “permanent fix” as per the Zilliqa team.
Cosmos’ Timely Bug Fix Avoids $126 Million Attack
Cosmos developers recently addressed a “critical” security flaw in its Inter-Blockchain Communication (IBC) protocol that had placed at least $126 million at risk. The vulnerability could have enabled a reentrancy attack, allowing hackers to mint unlimited tokens across IBC-connected chains like Osmosis and other DeFi ecosystems within Cosmos. According to GitHub commits, the bug was fixed by Cosmos developer Carlos Rodríguez.
Amid the recent developments at Zilliqa, the ZIL native cryptocurrency has dropped by 2.6% to $0.01545 with its market cap slipping under $300 million. Also, the daily trading volumes have surged by 20%.
Earlier this month in September, blockchain technology EMURGO announced its strategic alliance with the Zilliqa Group. This partnership aims to enhance interoperability between the Zilliqa and the Cardano blockchains thereby leading to increased innovation, efficiency, and growth within the ecosystem.
The EMURGO-Zilliqa partnership is focused on improving interoperability and liquidity, with efforts aimed at strengthening the connectivity and functionality of both the Cardano and Zilliqa ecosystems.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
