Cosmos co-founder Ethan Buchman calls the v17 upgrade the biggest in a year. Despite a 4-hour outage due to a flaw, the ATOM token remains stable at $8.65.
According to Ethan Buchman, this upgrade is the largest the ecosystem has seen in a year.
On June 5, a flaw found during the v17 upgrade’s implementation caused the Cosmos Hub blockchain network to go down for almost four hours.
According to the Cosmos team, the issue was a security flaw in the Liquid Staking Module (LSM). Although developers quickly found and fixed the flaw, network block production only resumed once most validators had applied the patch. he said:
“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.”
The company’s official X account information indicates that the network started generating blocks at approximately 12:30 A.M. GMT. The company added that its developers would make a thorough post-mortem study available.
Ethan Buchman clarified that while downtime for the Hub is uncommon, it does occur. He continued, saying:
“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.”
Within the Cosmos Network, the Cosmos Hub seeks to establish hundreds of connected blockchains. Users can stake their ATOM currencies and receive rewards through its proof-of-stake consensus process.
Interestingly, the ATOM token, up 0.67% at $8.65 at the time of publication, was mostly unaffected by the network problems.
Cosmos Upgrade to version 17
One of the most eagerly awaited improvements in the Cosmos ecosystem this past week was the v17 upgrade. Over 136 million ATOM tokens, or 99.8% of the total votes, endorsed it, according to Mintscan data.
Thanks to the update, the features from the “partial set security” proposal are now part of the Cosmos ecosystem. Web3 Staking Infrastructure Provider Blockhunters said:
“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.”
According to Buchman, the update is “the biggest in at least a year” and includes “the long-awaited ICS2.0.”