Key Takeaways
- An update caused ZetaChain block production to be halted.
- The ZetaChain (ZETA) token has declined over 10% in price since the outage.
- ZETA added $40 million to its market cap during the outage.
Cross-chain data and smart contract execution Layer 1, ZetaChain, has suffered a major outage on both mainnet and testnet following a block production bug.
ZetaChain Outage
In the late hours of Oct. 31, the ZetaChain mainnet failed to produce blocks, bringing the network down through to the early hours of Nov. 1.
As per ZetaChain, the network was halted due to a consensus error following an update, namely v20.0.6.
Though it was only distributed to a “small subset of validators,” it ultimately prevented validators from agreeing on block production and resulted in a sizeable outage.
The team has switched their validators to a previous version, v20.0.5, and requested community members follow suit. By 05:52 UTC, block production had resumed, and at 06:00 UTC the team declared the issue resolved.
However, as of 06:06 UTC, there remain delays in cross-chain transactions due to the outage and transactions “catching back up.”
ZetaChain will conduct a review and publish the results in due course.
Athens Testnet Still Down
Shortly after the team had the mainnet back up and running, the Athens testnet block production also began to fail.
The team has said it is directly related to the mainnet version 20.0.6 and reiterated that validators should switch back to v20.0.05 in testnet and mainnet.
As of 07:58 UTC, the team confirmed that validators are resynching, and they anticipate normal block production will resume in the coming hours.
ZetaChain (ZETA) Price
Following tech issues, the ZETA token experienced a downturn and dropped 11.42% from $0.73 to $0.64.
Interestingly, overnight, ZETA’s market cap saw a steep uptick despite the price decline. It leaped from $314 million to $354 million, yet this influx of capital seemingly had no impact on ZETA’s price.
That said, it does come amid a broader market correction in which Bitcoin (BTC) has tumbled from $72,000 to $69,300 overnight.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
