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Cryptocurrency News Articles

ZetaChain Resumes Block Production After Outage Issue Impacted Its Mainnet

Nov 01, 2024 at 06:02 pm

ZetaChain, a Layer-1 blockchain focused on interoperability, has resumed block production after a brief outage. The network disruption took place for about 6 hours.

ZetaChain Resumes Block Production After Outage Issue Impacted Its Mainnet

ZetaChain, a Layer-1 blockchain designed for interoperability, has resumed block production following a brief outage that affected its mainnet.

The network disruption, which began at around 11:53 p.m. UTC on Thursday, lasted for about six hours. According to the ZetaChain team, the outage was caused by a technical glitch, specifically a consensus failure linked to a recent update rolled out to a small group of validators.

The disruption also impacted cross-chain transactions, which will be executed once the situation is fully assessed.

“We will share a post-mortem tomorrow when we've reviewed the incident and replicated root cause using a development environment,” the network stated.

notably, this decision to conduct an intense review comes after the ZetaChain testnet also experienced an outage in the early hours of Friday. In a development that mirrored the mainnet occurrence, the testnet stopped producing blocks due to the same issue.

ZetaChain Mainnet Went Live Earlier This Year

The mainnet launch, which took place at the beginning of 2023, marked a significant step toward making ZetaChain fully operational, seamlessly connecting Bitcoin, BNB Chain, and Ethereum Mainnet.

One of the network's core features is the capability for developers to deploy Omnichain Smart Contracts on ZetaChain's EVM, utilizing the ZRC-20 standard.

The ZetaChain mainnet beta also came equipped with ZetaHub, a user-friendly entry point for engaging with ZetaChain and its ecosystem.

This portal integrates functionalities like governance, Proof-of-Stake (PoS), and entry to the vast ZetaChain dApp ecosystem. Within ZetaHub, users can also monitor their on-chain activities through a rewards system called Zeta XP.

To maximize the use of ZetaHub Claim, eligible users can access their earned ZETA token allocations from the initial airdrop.

ZetaChain Evades Security Vulnerability, Hack

Prior to its mainnet launch, there were apprehensions among some regarding potential security challenges with the blockchain, considering the history of such projects.

A prime example is the cross-chain network THORChain, which was initially launched in 2018. Designed to support native asset settlement between multiple networks, including BNB Chain, Cosmos Hub, Bitcoin Cash, Litecoin, Avalanche, Bitcoin, and Ethereum.

Three years later, THORChain suffered an $8 million hack, the third in a month. Hackers managed to siphon away over 4,000 ETH from the platform in a series of exploits.

Another instance includes pNetwork, which suffered a breach in 2021, where bad actors made away with $12.7 million worth of Bitcoin. Hoping the hackers would return the fund, the cross-chain platform announced a $1,500,000 bounty at the time.

However, despite the recent outage, ZetaChain has not reported any asset losses. Therefore, it may be safe to say that it has yet to fall victim to the security vulnerability anticipated by experts.

The post ZetaChain Mainnet Resumes Block Production After Brief Outage appeared first on CryptoSlate.

News source:www.coinspeaker.com

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