Cardano experiences temporary chain split due to software bug… Limited impact on ADA price
Summary
- It reported that a temporary chain split occurred on the Cardano network due to a software bug.
- Although concerns about some transaction loss and double-spend were raised, Cardano guided staking pool operators to promptly perform node software updates and realigned the network to a single chain.
- Despite the incident, ADA price movements were limited, and it was assessed that it did not have a significant impact amid the broader market weakness.
A temporary chain split caused by a software bug occurred on the Cardano network. However, ADA's price appeared to see only limited fluctuations.
According to cryptocurrency-focused media Cointelegraph on the 23rd (local time), on the 21st Cardano experienced a 'malformed transaction' during the processing of delegation (Delegation) transactions, causing some nodes to maintain a different chain state. This revealed a bug in an old code library, leaving the network briefly split into two chains.
The Cardano ecosystem instructed staking pool operators to update to the latest node software, and the network later realigned to a single chain. However, concerns were raised that some transactions may have been lost or double-spent.
The transaction was confirmed to have been submitted by a staking pool operator known as 'Homer J' using AI-generated code. He accepted responsibility for the incident. Cardano founder Charles Hoskinson criticized it as "a serious act that damages digital networks," and said the FBI is investigating the incident.
Meanwhile, the price impact was limited. ADA was adjusted from about $0.44 to $0.40 before and after the incident. It was evaluated that amid the broader market weakness, the disruption did not have a conspicuous impact.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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