The #CherryNetwork mainnet is online once again.
Block production has resumed, and all validators will resume their role upon the start of the next era (~1h from now).
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Block production has resumed, and all validators will resume their role upon the start of the next era (~1h from now).
🧵1/7
On Wednesday September 14th, the Core Developers introduced a runtime upgrade proposed by the Technical Committee some days prior.
This chain upgrade aimed to adapt the token emission economics to the changing market dynamics as identified by the Technical Committee.
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This chain upgrade aimed to adapt the token emission economics to the changing market dynamics as identified by the Technical Committee.
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The upgrade however rendered the network unstable. The validators were unable to finalized blocks and the chain slowed and stopped.
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🧵3/7
After numerous attempts to resume network activity in the subsequent days, the Core Developers finally resolved to reset the Cherry Network mainnet blockchain state by transitioning the last healthy block state to a new blockchain.
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🧵4/7
This fix succeeded, and the network is now processing and validating blocks normally.
❗️ No data was lost and user funds have never been at risk. ❗️
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❗️ No data was lost and user funds have never been at risk. ❗️
🧵5/7
As the NPoS consensus resumes, users must now re-nominate their validators to take part in the Cherry Network blockchain validation and earn staking rewards.
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🧵6/7
W have not detected any transaction that finalized successfully since this incident occurred 7 days ago.
All staking rewards accrued this period are therefore lost.
Any pending bridge transaction should be processed in the next 24 hours with no additional input required.
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All staking rewards accrued this period are therefore lost.
Any pending bridge transaction should be processed in the next 24 hours with no additional input required.
🧵7/7
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