Canto Blockchain Has Been Offline for Over Two Days Due to a 'Consensus Issue'

The native token, CANTO, took a nosedive, dropping 21% initially, but somehow managed to claw its way back up a bit as the weekend wrapped up.

Layer-1 blockchain Canto has been down since Saturday due to a “consensus issue.” This means the network is unable to agree on some core operations, leading to a full-on freeze.

The native token, CANTO, took a nosedive, dropping 21% initially. However, the token managed to claw its way back up a bit as the weekend wrapped up.

Since its launch in August 2022, Canto has positioned itself as a permissionless, general-purpose blockchain for decentralized finance (DeFi) applications.

The blockchain is also compatible with the Ethereum Virtual Machine (EVM), making it more accessible to developers familiar with the Ethereum network.

Activity on the chain has completely halted. According to data from Etherscan, only three transactions managed to squeeze through on August 10. The last recorded block was 10847516, timestamped on August 11.

The blockchain hasn’t processed a single transaction in over two days. The team behind Canto took to X (formerly known as Twitter) to share that their chain was having a major issue.

“Canto chain is currently experiencing an issue with consensus that has caused the chain to halt,” the team stated.

They also promised that a fix was coming in the form of an upgrade scheduled for Monday, August 12, at 12:00 UTC.

Everyone’s funds are safe, and once the chain is back up, users can go about their business as usual, the team added. However, this statement is being made while the blockchain remains in its digital coma.

Just a couple of days before the crash, on August 9, Canto rolled out the Callisto upgrade. However, it’s unclear whether this upgrade was actually completed or if it had anything to do with the current issue.

Before this whole debacle, Canto was actually enjoying a nice growth spurt. After launching last August, the blockchain saw its Total Value Locked (TVL) skyrocket to over $200 million by March this year.

This surge was largely driven by investors piling into various DeFi services like lending, staking, and liquidity provision.