Canto Chain, a Cosmos-based layer 1 blockchain, has planned a system upgrade to tackle its recent prolonged outage. The chain disclosed an ongoing 33-hour outage due to a consensus issue on its network.
Moreover, the outage came following the chain’s “Callisto” upgrade on Friday. However, the consensus issue took down Canto’s mainnet at 18:43 UTC, on Saturday.
Canto Chain Witnesses 33-Hour Outage, Prepares For Upgrade
Canto Chain has scheduled an upgrade on August 12 to address its ongoing 33-hour outage. The chain witnessed a halt on its mainnet since Saturday at about 18:43 UTC, following its “Callisto” upgrade.
The layer-1 blockchain took to its official X account to disclose its upgrade plan on August 12 at 12:00 UTC. Firstly, the network acknowledged the recent consensus issue that triggered the outage.
Canto chain is currently experiencing an issue with consensus that has caused the chain to halt.
An upgrade to address this issue will be carried out on Monday, August 12 UTC 12:00.
All funds are safe. Once the chain resumes, users will be able to access all activities as…
— Canto (@CantoPublic) August 11, 2024
The blockchain stated, ” The Canto chain is currently experiencing a consensus issue that has caused the chain to halt. An upgrade to address this issue will be carried out on Monday, August 12, at 12:00 UTC.”
Usually, it takes a consensus mechanism to validate and finalize crypto transactions before adding a blockchain. So, consensus issues will not allow any transactions to be recorded on a blockchain, as such transactions will appear as inauthentic.
Data from block explorer CantoScan revealed that Canto Chain has been down for more than 24 hours. It also indicated that the last transaction on the network occurred on August 11, as block 10847516, at 2:29 a.m.
Moreover, Etherscan has not shown any new transactions on the Canto network over the past 33 hours. The last two recorded transactions took place in the past 46 hours.
Canto Chain Says Customers’ Funds Are Safe
Amid the current outage, Canto chain has reassured its users that all funds on the platform are safe. It also promised users access to their funds and other activities on the platform after the issue was resolved.
The network noted, “All funds are safe. Once the chain resumes, users can access all activities as usual.”
Notably, the Canto chain unlocked the “Callisto” upgrade. However, the upgrade took down the mainnet on Saturday at around 18:43 UTC. Hence, the blockchain has been unable to execute transactions afterward.
Born in 2022, Canto is a permissionless general-purpose and EVM-compatible blockchain. Its main focus is enabling free access to the decentralized finance (DeFi) space for EVM-compatible applications.
Last year, Canto disclosed its intention to migrate to Ethereum via an upgrade as a layer-2 network. However, in March 2024, it discarded the move and decided to remain a layer-1 blockchain instead.
Neofinance at scale – Canto is migrating to a ZK-powered Ethereum L2, built with @0xPolygon CDK.
The @CantoPublic community will tap Ethereum’s deep liquidity via a shared ZK bridge without sacrificing user security – a big stride toward neofinance.https://t.co/8uDhLYk1G9
— Polygon | Aggregated (@0xPolygon) September 18, 2023
Meanwhile, Canto saw a spike in activity in 2023 with the CANTO/USD pair increasing by almost 530%. However, data from DefiLlama revealed a decline for the token. Canto currently boasts a total value locked (TVL) of $12.74 million to become the 80th-largest network by TVL.
Though CANTO’s price dropped due to the network’s prolonged outage, the token has indicated a significant recovery. According to data from CoinMarketCap, CANTO trades at $0.04308 as of 06:52 AM EST on August 12.
Moreover, the coin surged by more than 8% over the past 24 hours.
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