The network of Moonbeam (GLMR), one of the popular altcoin projects, had a pause of several hours. Although this situation worried the community, the problem was later resolved. However, this does not seem to have prevented the dream of the GLMR token. Here are the details…
Activities stopped in the altcoin project
Moonbeam, a blockchain project compatible with the Ethereum Virtual Machine (EVM) and receiving the second parachain slot in Polkadot, reportedly suffered a four-hour and 13-minute interruption in transaction activities on April 5. According to a statement from the Moonbeam team, the issue was quickly announced and the development team began investigating the root cause of the issue. Moonbeam reported that they detected a vulnerability early in the morning of April 6 and released a patch to version 0.30.0. Block generation continued until all nodes were updated to the latest version 0.30.3. The project is currently confirming that the system is operating normally. A tweet from Moonbeam includes the following statements:
The root cause of the latest Moonbeam Blockchain production issue was identified and the team implemented a solution in the form of a client upgrade. Moonbeam now spawns blocks.
Moonbeam’s experience isn’t the only one that’s happened recently. The ZkSync Era Blockchain also suffered a three-hour block production issue last week, and Avalanche C-Chain witnessed two network outages due to issues with the node software. Blockchain technology is still in its growth stage, and bugs or vulnerabilities can often occur. In turn, development teams must act quickly and transparently to minimize potential damage.
What is the latest situation in GLMR price?
Despite the temporary interruption in transaction activities, Moonbeam’s quick response and solution to the problem highlights the flexibility and resilience of Blockchain technology. This event highlights the importance of active management and development to ensure that Blockchain systems remain secure, robust and reliable. Moonbeam’s compatibility with the Ethereum Virtual Machine has made it a popular project as it allows the creation of smart contracts and decentralized applications compatible with the Ethereum ecosystem.
It maintains its second slot in Polkadot, a network of interconnected Blockchain networks. Moreover, cryptocoin.com As we have also reported, the integration of LayerZero with the cross-chain data transfer protocol has further increased its capabilities. Meanwhile, the coin’s price seems to have dropped slightly. Looking at its daily chart, GLMR has dropped from $0.39 to $0.38. It has lost 2% in value in the last 24 hours.
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