On June 5, the Cosmos Hub blockchain network experienced an outage lasting around four hours due to a bug discovered during the implementation of the v17 upgrade.The Cosmos team stated that the bug was a Liquid Staking Module (LSM) security vulnerability. While developers swiftly identified and resolved the bug, block production on the network did not resume until most validators had implemented the patch. It stated:“The teams at Informalinc and HyphaDoesCosmos have issued a fix for the bug that was found. We’re currently at 55% of validators who have implemented the patch. We encourage any remaining validators who have not yet implemented the patch to do so.”According to information on the firm’s official X handle, the network began producing blocks at around 12:30 A.M. GMT. The firm also mentioned that its developers would release a detailed post-mortem report.Ethan Buchman, the co-founder of Cosmos, explained that downtime for the “Hub is rare, but it happens.” He added:“Bugs will happen. Chains will go down. Chains will come back up. Important thing is to have dedicated devs and validators working to fix issues when they arise.”The Cosmos Hub aims to create thousands of interconnected blockchains within the Cosmos Network. It operates on a proof-of-stake consensus mechanism, enabling participants to stake their ATOM coins and earn rewards.Interestingly, the network issues had little impact on the ATOM token, which remained stable at $8.65 as of press time, up 0.67%.The v17 upgrade was one of the most anticipated updates within the Cosmos ecosystem recently. According to data from Mintscan, over 136 million ATOM tokens, equivalent to 99.8% of the total votes, supported it.The upgrade introduces features from the “partial set security” proposal to the Cosmos ecosystem. Blockhunters, a web3 staking infrastructure provider, stated:“This feature allows new consumer chains to customize validator participation and set various operational parameters, such as voting power caps and opt-in choices for validators.”Moreover, Buchman also described the upgrade as “the biggest in at least a year,” adding that it brings “the long-awaited ICS2.0.”Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change. Get the latest crypto news and expert insights. Delivered to you daily.Dora Factory says Cosmos has potential to become one of the largest on-chain communities that supports public goods with its quadratic funding program.New Bitcoin liquid staking solution aims to enhance yield generation without compromising liquidity.From costume enthusiast to crypto pioneer, Sunny Aggarwal ignites the Cosmos community with both style and innovative leadership.Following the news, ADA and ATOM have faced considerable price struggles during the past day,CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
