- universe-based blockchain layer one Canto suffered through a more than twenty-eight-hour downtime as a result of a software upgrade gone wrong.
- Canto stated that an update to fix the problem will happen soon, on Monday at 12:00 UTC.
Blockchain Layer-1 based on Cosmos Block explorers report that Canto had a majornet outage on Saturday at approximately 18:43 UTC as a result of its “Callisto” upgrade.
Since the downtime, the blockchain has not been able to process new transactions. Canto’s X account confirmed the outage on Sunday afternoon and attributed it to “an issue with consensus.” Canto assured users that their funds are safe and said an upgrade to address the issue will be implemented on Monday at 12:00 UTC.
Despite Canto’s announcement last year that it intended to switch to Ethereum and become a Layer-2 network, the blockchain ultimately decided to stay an L1.
Canto saw a spike in trading activity in January 2023, but DefiLlama data shows that since then, it has decreased to rank 78th in terms of total value locked (TVL).
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
