The ZetaChain mainnet experienced a significant outage, halting block production for four hours after a software update triggered a consensus failure. Block production stopped at block 5,529,896, which recorded the last transaction before the network interruption, according to ZetaScan data. The ZetaChain team quickly identified the issue, attributing it to a consensus breakdown linked to their latest software update, v20.0.6.
The disruption occurred after the team rolled out the update to a subset of network validators, which unexpectedly hindered validators from reaching the necessary consensus for block generation. In response, ZetaChain warned all validators about reverting to v20.0.5 to restore order as the validators attempted to back up the network.
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Validator Rollback and Partial Network Participation Support System Recovery
With over 60% of validators reverting to v20.0.5, partial network participation has been achieved. However, the remaining validators, many of whom attempted to operate with the newer v20.0.6 update, are recovering from network backups to rejoin the network under v20.0.5. ZetaChain has assured us that block production will resume once all validators have completed resynchronization. Additionally, the team has announced plans for another software update in the next hour to restore regular network function fully.
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This has mainly been realized through the ZETA token, which, as mentioned earlier, had its price change when the network was down. At the time of this filing, ZETA had slipped down to $0.6620, 5.87% down in the last 24 hours of trade. However, the market capitalization of ZETA increased by 6.02 % to about $343.99 million, believed to be a result of the general trading volume of $ 116.05 million.
Source: Tradingview
Additional technical factors have also been unveiled to provide evidence of the recent direction of the token in the market. The MACD showed that bearish pressure had commenced when writing this analysis, given that the MACD line went below the signal line. Technical indicators have further highlighted the token’s recent market behavior. The MACD indicator revealed bearish momentum as the MACD line crossed below the signal line, indicating potential selling pressure. Additionally, the RSI stands near 47.55, suggesting a neutral trend with a possible inclination toward a downtrend.
Conclusion
ZetaChain’s mainnet outage and consensus failure underscore networks’ challenges with software upgrades. With validators actively resyncing, a total return to regular network operations is anticipated soon, with the ZetaChain team closely monitoring developments and planning additional updates to maintain network stability.
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Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.