Canto blockchain last processed a transaction two days ago.
Canto, a Cosmos-based Layer 1 blockchain, is in the throes of a two-day outage despite its team promising to reboot the network.
On Sunday afternoon, Canto’s official X account attributed its downtime to a consensus issue, meaning that nodes are unable to agree on the network’s state.
“Canto chain is currently experiencing an issue with consensus that has caused the chain to halt,” the Canto team tweeted. “An upgrade to address this issue will be carried out on Monday, August 12, at noon UTC. All funds are safe. Once the chain resumes, users will be able to access all activities as usual.”
However, as of 4:00 pm UTC on Aug. 12, Canto hasn’t activated the upgrade nor has its team posted on social media since. Data from Cantoscan shows Canto last processed transactions at block height 10,847,517 two days ago.
Despite the network outage, CANTO is up 14% in the last 24 hours, trading at $0.043.
Canto launched in August 2022. The network boasts compatibility with the Ethereum Virtual Machine (EVM), meaning applications built for the Ethereum ecosystem can easily port their code over to Canto.
According to DeFiLlama, Canto’s TVL is at $12.74 million, down 94% from its March 2023 all-time highs of $204 million.
In September 2023, Canto announced plans to migrate to Ethereum and become a Layer 2 network using Polygon’s Chain Development Kit (CDK). However, Canto abandoned its planned Layer 2 migration in March.
Canto’s team did not respond to The Defiant’s request to comment at the time of publication.
Source: https://thedefiant.io/news/blockchains/canto-blockchain-suffers-multi-day-outage-due-to-consensus-problem