Canto, a Cosmos-based layer-1 blockchain, suffered a major outage after its recent “Callisto” upgrade on Saturday. The upgrade led to the mainnet going down around 18:43 UTC, which impaired the blockchain’s ability to handle new transactions.
On Sunday afternoon, Canto’s X (ex-Twitter) account highlighted the issue as a “consensus issue.” The team said it was planning another update on Monday at 12:00 UTC to resolve the problem and stressed that users’ funds were safe.
Canto had previously stated its intention to migrate to Ethereum as a Layer 2 solution. But it later changed its mind and decided to remain a Layer 1 blockchain, which was a turnaround.
Specifically, Canto’s trading volume increased significantly in January 2023. However, it has since fallen to 78th in terms of total value locked (TVL) according to data from DefiLlama.
This incident highlights the issues surrounding large-scale changes and blockchain stability. Users are encouraged to follow Canto’s official channels for any further updates and to confirm the safety of their funds.
Also read: RippleX Announces XRPL Testnet Reset on August 19 for Upgrades
