Canto blockchain final processed a transaction two days in the past.
Canto, a Cosmos-based Layer 1 blockchain, is within the throes of a two-day outage regardless of its group promising to reboot the community.
On Sunday afternoon, Canto’s official X account attributed its downtime to a consensus concern, which means that nodes are unable to agree on the community’s state.
“Canto chain is presently experiencing a difficulty with consensus that has brought on the chain to halt,” the Canto group tweeted. “An improve to deal with this concern might be carried out on Monday, August 12, at midday UTC. All funds are protected. As soon as the chain resumes, customers will be capable to entry all actions as normal.”
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 introduced plans to migrate to Ethereum and develop into a Layer 2 community utilizing Polygon’s Chain Improvement Package (CDK). Nonetheless, Canto deserted its deliberate Layer 2 migration in March.
Canto’s group didn’t reply to The Defiant’s request to remark on the time of publication.
