when

April

Decentralized finance (DeFi) protocol dYdX has announced it is investigating a recent halt in block production as the chain underwent a scheduled upgrade.
On April 8 at 5:30 am UTC, dYdX <a href="https://status.dydx.trade/incidents/s47nd82txjqq" target="_blank" rel="noopener nofollow">published</a> a status report stating the chain was proceeding with a scheduled protocol upgrade and that functionalities of the dYdX Chain may be disrupted.
However, the chain did not resume block production after the scheduled maintenance. 
At the time of writing, the blockchain explorer platform Nodes Guru <a href="https://dydx.explorers.guru/blocks" target="_blank" rel="noopener nofollow">shows</a> that the latest blocks produced by the dYdX mainnet were from the time of the scheduled upgrade, which was five hours prior. 
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-04/ff287225-18d7-4c75-8718-eb5d2f087eee.jpg" alt="" title="">
 <figcaption style="text-align: center;">
 Blocks produced by the dYdX mainnet (GST timezone). Source: Nodes Guru
 </figcaption>
</figure>
DYdX also confirmed that the chain encountered an issue and said at 6:50 am UTC that its team was already debugging it. However, the team said the issue is still being investigated and might not be resolved until later. It&nbsp;<a href="https://status.dydx.trade/incidents/39tc98n482p6" target="_blank" rel="noopener nofollow">wrote</a>: 
<blockquote data-ct-non-breakable="true">
 “The issue continues to be investigated. It’s been agreed to reconvene with the validators around 15:00 UTC. This means that the devs won’t suggest a workaround or a fix until then so that the validators won’t get jailed for not being online when the chain restarts.”
</blockquote>
The protocol upgrade was <a href="https://dydx.forum/t/drc-dydx-protocol-4-0-upgrade/2312" target="_blank" rel="noopener nofollow">proposed</a> on Feb. 21. It included advancements such as order book features, risk and safety improvements and Cosmos-related enhancements. 
The outage comes after a recent development in dYdX when the community approved the staking of 20 million tokens. 
On April 6, the dYdX community <a href="https://cointelegraph.com/news/dydx-approves-20m-token-stake-network-activity-soars">voted to allow $61 million</a> in treasury tokens to be staked on the liquid staking protocol called Stride. 
DYdX highlighted that the move follows the growth in trading activity within the protocol. “The rate of DYDX being staked to validators has plateaued and deposits to the exchange are growing at a tremendous pace,” it&nbsp;<a href="https://dydx.forum/t/drc-dydx-community-staking-proposal/2444" target="_blank" rel="noopener nofollow">wrote</a>. 
Related: <a href="https://cointelegraph.com/news/d-yd-x-founder-blames-v3-central-components-targeted-attack-involves-fbi">dYdX founder blames v3 central components for ‘targeted attack,’ involves FBI</a>
The dYdX Chain also suffered a targeted attack in November 2023, which led to&nbsp;<a href="https://cointelegraph.com/news/founder-dydx-targeted-attack-insurance-use">$9 million in losses</a>.
On Jan. 3, the protocol said it had already identified the attacker and was considering legal action. It also said it had <a href="https://cointelegraph.com/news/dydx-identifies-attacker-considers-legal-action-over-9m-loss">improved its trading platform</a> to enhance monitoring and alerts. 
Magazine: <a href="https://cointelegraph.com/magazine/sbf-gets-25-years-in-prison-fidelity-eyes-eth-staking-and-coinbases-court-loss-hodlers-digest-march-24-30/">SBF gets 25 years in prison, Fidelity eyes ETH staking, and Coinbase’s court loss: Hodler’s Digest</a>

dYdX Chain halts production following scheduled network upgrade

Cointelegraph

Другие статьи, опубликованные 8 апр. 2024 г.

Every Smart Investor Will Ditch Ripple (XRP) and Cardano (ADA) Before It’s Too Late and Buy This ...

Bitcoin Cash And WIF Lead Market Rally; Expert Believes $ROE Could Take The Baton For A Massive P...

Ethena Backers Join New ENA Rival Positioned To Profit More Than Ethena

Pepe Price Prediction: Pepe Pumps 10%, But It’s This Dogecoin Derivative That’s The Talk Of The T...

Speed into Fortune: Cardano Racers Unleashes a Whopping 2,564 ADA Prize Pool!

BREAKING: Coinbase Announces to Investors That It Will List a New Altcoin!

Join our free newsletter for daily crypto updates!