ZetaChain is back online after it suffered an outage issue earlier on October 31, an issue that impacted its mainnet.
ZetaChain, a Layer-1 blockchain focused on interoperability, has resumed block production after a brief outage. The network disruption took place for about 6 hours, starting at around 11:53 p.m. UTC on Thursday. According to the team behind the blockchain, this outage was due to a technical glitch. The issue was precisely related to a consensus failure linked to a new update rolled out to a small group of validators.
From ZetaChain Mainnet to Testnet
The disruption also delayed cross-chain transactions. However, all transactions will be executed once the entire situation is assessed. Though the network is back, ZetaChain says it is still reviewing the situation.
“We will share a post-mortem tomorrow when we’ve reviewed the incident and replicated root cause using a development environment,” the network said
Noteworthy, this decision to conduct an intense review became necessary after the outage on the ZetaChain testnet in the early hours of Friday. As it occurred on the mainnet, the testnet stopped producing blocks due to the same issue.
ZetaChain launched its mainnet at the beginning of this year, exactly nine months ago. This L1 network aims to function as a platform ensuring universal access, simplicity, and utility across all blockchain networks. Hence, the mainnet launch marked a significant move to get ZetaChain fully operational, seamlessly linking Bitcoin, Ethereum Mainnet, and BNB Chain.
Largely, the mainnet launch marked a major step toward boosting crypto adoption by extending user possibilities through cross-chain functionality.
One of the network’s core features is the developers’ capability to deploy Omnichain Smart Contracts on ZetaChain’s EVM, utilizing the ZRC-20 standard. The ZetaChain mainnet beta also came with ZetaHub. This user-friendly entry point enables active engagement with ZetaChain and its ecosystem.
This portal integrates functionalities like governance, Proof-of-Stake (PoS), and entry to the extensive ZetaChain dApp ecosystem. Users can also monitor their on-chain activities within ZetaHub through a rewards system named Zeta XP. To maximize the use of ZetaHub Claim, eligible users can access their earned ZETA token allocations from the initial airdrop.
ZetaChain Escapes Security Vulnerability and Hack
Before its mainnet launch, there were suspicions of potential security challenges with the blockchain. History has proven that such projects come with certain problems.
A clear example is the cross-chain network THORChain, initially launched in 2018. THORChain is originally designed to support native asset settlement between multiple networks, including BNB Chain, Cosmos Hub, Bitcoin Cash, Litecoin, Avalanche, Bitcoin, and Ethereum.
Three years later, it suffered an $8 million hack, the third one in a month. Hackers siphoned over 4,000 ETH from the platform in a series of exploits. Also, pNetwork suffered a breach in 2021, and the bad actors made away with $12.7 million worth of Bitcoin. Hoping the hackers would return the fund, the cross-chain platform announced a $1,500,000 bounty at the time.
Despite the recent outage, ZetaChain has not reported any asset loss. Therefore, it may be safe to say that it has yet to fall victim to the security vulnerability anticipated by experts.
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