Cardano Network Hit With a Temporary Chain Split, but ADA Barely Moves

Cardano Network Hit With a Temporary Chain Split, but ADA Barely Moves

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The Cardano network suffered a temporary chain fork on Friday, due to a “malformed” delegation transaction, ADA Delegation Transactions (Ada) to the staking pool, which is valid at the protocol level but can cause code crashes affecting network functionality.

This “corrupt” transaction exploited an old bug in the underlying software library used by the Cardano blockchain, causing Network section Due to a disagreement in how the contract handles the transaction, depending on an incident a report From the Cardano ecosystem organization Intersect.

Storage cluster operators have been instructed to download the latest version of the node software to fix the issue and reconfigure the split chain into a single blockchain record.

However, the split led to… Fears About isolated transactions and possible ADA double spending that caused economic harm to some users.

source: Homer c

The exploit was caused by a Sacking ADA pool operator known as Homer J, who used AI-generated code to push and accepted the transaction. responsible To cause a network partition.

The temporary split caused controversy within the Cardano community, with some arguing that Homer J’s actions helped Expose Critical errors and others, such as Cardano founder Charles Hoskinson, Contact It is an attack on the Cardano network.

Related to: 5-year Cardano hodler loses 90% ADA worth $6.9M in failed swap

Charles Hoskinson says the FBI is now investigating, but markets have barely noticed the split

The US Federal Bureau of Investigation (FBI) has been contacted and is investigating the incident. According to To Hoskinson. In a separate video statement, Hoskinson said He said:

“This has kicked a hornet’s nest, and in many jurisdictions, this is a felony – a very serious crime. It’s tampering with a digital network and damaging it. Maybe it’s just guff and a laugh, and they think it’s just fun and games – ‘Oh, look, we kicked Charles’ game.’

Cybersecurity, Charles Hoskinson, Cardano, Hacks
Cardano founder, Charles Hoskinson, provides an update after Friday’s incident that caused a temporary fork in the chain. source: Charles Hoskinson

But these things affect the lives, finances and businesses of millions of people. He continued: “It’s like trying to shut down the economy and conduct a cyber attack on a nation state.”

Chain forks or any network outages are usually significant events for blockchain protocols that negatively impact the price of their native tokens.

However, the price of ADA registered modest declines during and after the incident, falling from $0.44 on Friday to around $0.40 at the time of writing.

Cybersecurity, Charles Hoskinson, Cardano, Hacks
ADA decreased by a modest amount despite a software error that caused a temporary Cardano network partition. source: TradingView

The modest decline in prices came amid Widespread decline in the crypto market Which began in October when A Historical flash crash This led to a series of cryptocurrency liquidations worth $20 billion – the largest single-day liquidation in the history of cryptocurrencies.

No one noticed the Cardano network partition, “because no one uses it,” one user said He said In response to Friday’s incident.

magazine: Charles Hoskinson, Cardano, Ethereum – for the record