After months of development and testing Cherry Network's Ethereum Virtual Machine (#EVM) compatibility parachain is about to hit our public testnet #soon
Once online, the Cherry Network EVM compatibility parachain will allow anyone to deploy and run Solidity code using the world's most widely adopted and stable smart contract development frameworks, such as @HardhatHQ & @trufflesuite, directly on the Cherry Network!
Parachain network transaction fees will be paid in $pCHER, a token seamlessly interchangeable with our relay chain's $CHER and across other parachains through Cherry Network's own interchain messaging system dubbed Cross-Consensus Messaging format (XCM).
This is a massive update that brings Cherry Network and its features closer into the hands of developers and users in the largest decentralized networks, such as @ethereum@BNBCHAIN and @0xPolygonLabs
More news and documentation will follow. Keep an eye on our official channels!
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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.
🧵2/7
The upgrade however rendered the network unstable. The validators were unable to finalized blocks and the chain slowed and stopped.