Filecoin [FIL] Network Back Online After Suffering A Temporary Outage

By Godfrey Benjamin
Published December 22, 2020 Updated December 22, 2020
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Filecoin [FIL] Network Back Online After Suffering A Temporary Outage

By Godfrey Benjamin
Published December 22, 2020 Updated December 22, 2020

Filecoin, the open-source decentralized Storage Network provider gave its miners and investors a scare as it reported a glitch that caused a temporary network outage. According to the status report published by Filecoin, the glitch was first reported on Saturday, December 19th, and the network did not become fully operational until today.

“The Filecoin network is halted with most nodes stuck at height 336459 with mismatched state compute error due to indeterminate behavior,” Filecoin revealed in the status update adding that it has found the root cause and that it is testing the fix.

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The halt of the network forced Filecoin to initiate a system upgrade in which its miners were prompted to migrate to. The migration to the new network dubbed Lotus v1.4.0 has been ongoing since the upgrade was released and though the mainnet is having at a 99.95% uptime at the time of writing, the Filecoin miners, as well as exchanges, are yet to see the optimal functionality of the newly upgraded network. 

“Expect degraded chain quality. We should expect the network to be somewhat degraded for the next few hours as miners continue to upgrade and power recovers (currently ~34% upgraded). We recommend pausing all non-critical messages until chain capacity is restored to normal levels – BaseFee may be volatile as the network recovers,” Filecoin states in a later update.

Temporary Glitches Becoming Associated With the Filecoin Network

Temporary glitches are becoming associated with the Filecoin network, a disturbing situation for a new blockchain network whose mainnet went live back in October. While the network and its fundamentals received a massive embrace from the cryptocurrency community as marked by the FIL coin listing on the top cryptocurrency exchanges, the network has had to adjust to a few unforeseen realities.

The network miners embarked on a strike over a controversial token reward system just a few days after the network’s mainnet went live. This marked the first of the situations in which the new buzz in the decentralized ecosystem saw a halt in its operations followed by the latest glitch necessitating a network upgrade.

While Filecoin remains one of the top beneficiaries of the Decentralized Finance (DeFi) boom witnessed this year, making headlines for such outages may not help it maintain the bullish trajectory it created for itself at launch. 

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Godfrey Benjamin
146 Articles
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

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