Breakdowns are recurrent in the blockchain universe, especially on crypto protocols. The latest is that of the cross-chain exchange THORChain. The details of the situation will be exposed in the lines to follow.
A problem that does not endanger the exchange of cryptos
THORChain is a cross-chain exchange that promotes transactions of cryptos like bitcoin (BTC) and Ethereum (ETH). On the evening of Thursday, October 27, the team behind the network reported that activities on the exchange have been interrupted, following a “bug stemming from non-determinism between individual nodes”. So it’s a single type of transaction that would have created the problem. The team immediately reassured that the situation had nothing to do with any solvency problem.
Meanwhile, token exchange THORSwap has provided its own update, noting that it is still working.
For its part, the developer of THORChain’s infrastructure, Nine realms, was confident of a favorable outcome. He suggested that fixing bugs was only part of the process of improving the THORChain network. “Every such situation is immediately investigated by a security team and core developers, resulting in protocol improvements”did he declare.
The THORChain team presented the modus operandi that it will develop to overcome the problem. She said the next steps are to find the source of the indeterminism, release an update, and restart the state machine. In the early hours of Friday, October 28, one of the updates indicated that the issue of consensus was clearly understood by the THORChain team. She later added that repairs have begun to revive the crypto exchange.
Reviews
On social media, the crypto exchange has been criticized. In the comments, some noted that this failure recalls the setbacks of Solana. Others have suggested platform users fall back on TRON.
Despite the criticism, THORChain’s native token, RUNE, seems unaffected by the situation. According to details from CoinGecko, RUNE has climbed 6.5% in the past seven days.
The THORChain crypto exchange is once again encountering some difficulties. But this time, it doesn’t seem to be too serious. Internal developers are hard at work fixing the problem. But the platform has faced a lot of criticism since the problem arose.
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