A company focused on providing cross-chain liquidity in the Cosmos ecosystem. altcoin network, THORChain (RUNE), was halted on Thursday due to a software bug.
THORChain Altcoin Network Not Working Also Confirmed by Developers
THORchain’s dev team tweeted that they were aware of the outage, noting that the developers had “identified the possible cause, due to a unique transaction type (unrelated to solvency)”.
The network’s developers wrote on Twitter:
“The developers are aware that the chain is stalled and have identified the probable cause due to a unique transaction type (nothing to do with solvency).
An update will be released as soon as more verified information becomes available.”
Devs are aware of a chain halt and have identified the likely cause due to a unique transaction type (nothing to do with solvency).
An update will be posted as soon as there is more confirmed information.
— THORChain (@THORChain) October 27, 2022
Chain stoppage is unusual for most blockchains; Reliability and stable uptime are often cited as key advantages of decentralized networks over centrally controlled alternatives.
THORChain was still not working at the time of this writing.
THORChain is a payment layer that facilitates exchanges between 8 chains. Supported chains are: Bitcoin, Ethereum, Binance Chain, Avalanche, CosmosHub, Dogecoin, Litecoin and Bitcoin Cash.
According to the developers, THORChain is secured by its native token RUNE, which deterministically gains value as more assets are invested in the network.
The dev team states that the main purpose of THORChain is to be resistant to centralization and hijacking while facilitating cross-chain liquidity. Also, according to its official website, THORChain only secures the assets in its vaults and offers economic guarantees that these assets are safe.
THORChain project in 2018, cryptocurrencies It was founded with the notion that it was wrong to use centralized exchanges to transfer between different blockchains.
*Not investment advice.
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