Following 20-hour chain halt, THORChain network resumes

The network was halted on Oct. 27
The team said a bug had caused non-determinism between individual nodes
RUNE Price at the time of writing – $1.59

The proof-of-stake cross-chain exchange and proof-of-work network THORChain said in a tweet on Oct. 28 that it was “back online and producing blocks” and had re-enabled trading after being offline for more than 20 hours.

On October 27, the team announced that a bug had caused “non-determinism between individual nodes,” which led to the network’s suspension.

RUNE Price fell by 5.6% within 24 hours

Turns out to be a manipulation of strings: Code was propelling a universe. Following the chain halt, the THORChain team stated, “Uint (instead of a uint64) into a string causes the string to get the point of the big int instead of the actual value, causing the memo string to be different on different nodes.

Didn’t see this in the statement because the bad memo is swapped immediately and never written to disk or block. Cointelegraph was informed by a spokesperson for THORChain that the chain had been stopped for safety reasons but would “revert once the source of non-determinism is found.

However, during the outage, the token-swapping platform THORSwap reported that it was still allowing swaps between Ethereum and ERC-20 tokens. Users affected by network outages have been reported on other major blockchains.

In September, Anatoly Yakovenko, a co-founder of Solana, stated that the blockchain’s “curse” had been outages caused by low-cost transactions, with at least seven occurring since its launch in 2020.

RUNE, the native token of THORChain, dropped from $1.57 to $1.49 in less than 24 hours following reports of the outage. However, it has since returned to $1.55.

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What is special about THORChain?

The problem of “impermanent losses,” or the often-temporary losses that liquidity providers can experience when contributing to liquidity pools, is mitigated by THORChain through the use of a novel system.

Utilizing a slip-based fee, it ensures that liquidity remains where it is needed. To seamlessly and permissionless facilitate cross-chain token swaps, THORChain combines a variety of novel technologies, such as on-way state pegs, a state machine, the Bifröst Signer Module, and a TSS protocol. Since all of this is done behind the scenes, the platform is accessible to even novice traders.

The convention isn’t benefit-situated. The protocol pays the participants directly for every fee it generates, such as node administrators and liquidity providers, and the team is not supported. Instead, just holding RUNE provides the team with an incentive, just like everyone else.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing