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News

Layer 1 Canto Outage Incident Causes Network Downtime After New Upgrade

1 hours ago - Around 2 mins mins to read

Key Points:

  • The Canto Layer 1 blockchain experienced an outage following its “Callisto” upgrade on Sunday.
  • The Canto outage incident mitigation plan will be deployed today at 12:00 UTC.
Canto, a Layer 1 blockchain that lives on the Cosmos network, faced a giant outage following its “Callisto” upgrade on Sunday.
Layer 1 Canto Outage Incident Causes Network Downtime After New Upgrade

Read more: Canto Network Review: Layer-1 Based On Cosmos SDK Promises New Future For Defi

Canto Outage Incident Appeared After “Callisto” Upgrade

Block explorers show that the Canto mainnet went out of order at 18:43 UTC on Sunday. Since then, no new transaction has been processed on the blockchain following the Canto outage incident.

Canto took to its X account to address the issue on Sunday afternoon and claimed that the cause of the downtown was a “consensus issue.” The platform says another follow-up upgrade to resolve the Canto outage incident is scheduled for Monday at 12:00 UTC. Further seeking to reassure users that their funds were secure despite the disruption, Canto maintains all funds are secure.

Canto: The Layer 1 Towards Absolute Decentralization

Canto​ is a Layer 1 blockchain project developed with the goal of realizing the DeFi vision. The blockchain has the characteristics of being accessible, transparent, decentralized, and free.

Unlike most projects, Canto does not enjoy venture capital funding. The ideal backers that Canto received in the early days only took 2% of the blockchain’s initial supply. On the development team, there are people from Plex and Neobase; one of the more visible contributors is Lewis.

Although Canto had plans to shift to Ethereum as a Layer 2 network last year, it opted to remain a Layer 1 blockchain. At the moment, $16.3 million worth of DeFi assets are being processed on the current network, according to statistics provided by DefiLlama.

Now, the blockchain community is likely to wait for the resolution of the bug and the planned upgrade aimed at getting full functionality back.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

blockchain

Callisto

Canto

Canto Outage Incident

Cosmos

layer 1

outage

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Layer 1 Canto Outage Incident Causes Network Downtime After New Upgrade

Key Points:

  • The Canto Layer 1 blockchain experienced an outage following its “Callisto” upgrade on Sunday.
  • The Canto outage incident mitigation plan will be deployed today at 12:00 UTC.
Canto, a Layer 1 blockchain that lives on the Cosmos network, faced a giant outage following its “Callisto” upgrade on Sunday.
Layer 1 Canto Outage Incident Causes Network Downtime After New Upgrade

Read more: Canto Network Review: Layer-1 Based On Cosmos SDK Promises New Future For Defi

Canto Outage Incident Appeared After “Callisto” Upgrade

Block explorers show that the Canto mainnet went out of order at 18:43 UTC on Sunday. Since then, no new transaction has been processed on the blockchain following the Canto outage incident.

Canto took to its X account to address the issue on Sunday afternoon and claimed that the cause of the downtown was a “consensus issue.” The platform says another follow-up upgrade to resolve the Canto outage incident is scheduled for Monday at 12:00 UTC. Further seeking to reassure users that their funds were secure despite the disruption, Canto maintains all funds are secure.

Canto: The Layer 1 Towards Absolute Decentralization

Canto​ is a Layer 1 blockchain project developed with the goal of realizing the DeFi vision. The blockchain has the characteristics of being accessible, transparent, decentralized, and free.

Unlike most projects, Canto does not enjoy venture capital funding. The ideal backers that Canto received in the early days only took 2% of the blockchain’s initial supply. On the development team, there are people from Plex and Neobase; one of the more visible contributors is Lewis.

Although Canto had plans to shift to Ethereum as a Layer 2 network last year, it opted to remain a Layer 1 blockchain. At the moment, $16.3 million worth of DeFi assets are being processed on the current network, according to statistics provided by DefiLlama.

Now, the blockchain community is likely to wait for the resolution of the bug and the planned upgrade aimed at getting full functionality back.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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