The dYdX main net stopped unexpectedly during the v4.0.0 upgrade. Project engineers are on high alert for post-upgrade glitch. Validators determine a correction strategy. Despite the main-net outage, the altcoin price resisted the decline.
DydX’s planned upgrade led to service outage!
cryptokoin.com As we reported, decentralized derivatives exchange protocol dYdX has encountered an unexpected halt in its blockchain operations due to a planned upgrade. This caused a major disruption to the project’s main-net services. However, engineers and system developers are now analyzing the problems and trying to solve them. This incident is the first serious disruption in dYdX’s operation following its migration to the Cosmos Blockchain.
The blockchain first experienced issues at 09:50 UTC, shortly after dYdX began its v4.0.0 protocol upgrade. On-chain data showed a pause in block production. This caused a major operational disruption. An engineering team from dYdX is working to find the source of the outage and resolve it. The team took swift action to address the issue. Everything was going well until an unexpected issue occurred during the upgrade process.
dydx is working to return to normal operations
In response to the blockchain stoppage, the dYdX team acted quickly to find and resolve the issue. It has made a series of updates that prove that they are committed to this issue. One notable activity during the troubleshooting process was scheduling a meeting with network validators at 18:00 ET to evaluate possible solutions.
This approach emphasizes the collaborative nature of decentralized networks, where validators are vital to keeping the blockchain operational and functional. The focus on validators not being penalized for not being online during possible reboots confirms the challenges that go hand in hand with the governance of decentralized networks.
How did the outage affect the altcoin price?
Meanwhile, before the outage, the altcoin price was trending upward. The outage did not significantly impact the altcoin market cap. However, the token’s performance remained relatively low. This resistance is likely evidence that the entire market is confident in the protocol’s ability to overcome technical hurdles. It’s also an indication of his confidence in the underlying power of the dYdX ecosystem.
At the time of writing, the altcoin was changing hands at $3.16, an increase of 2.43% from its intraday low. Additionally, market capitalization increased by 2.4% to approximately $1.47 billion. In addition, 24-hour trading volume increased by 72.5% to $6.3 million.
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