Verge Suffers Massive Six-Month Block Reorganization
Key Takeaways
- Verge has suffered a block reorganization that has interfered with its operation and erased months of transactions.
- The issue was first observed by members of Coin Metrics.
- The Verge community has not responded, and it is not clear whether the issue will be resolved.
Verge (XVG) has experienced a major block reorganization, or reorg, that has interfered with its operation.
Antoine Le Calvez of Coin Metrics was among the first to notice the reorg, noting that at least 560 blocks were involved. “[Our] node is on a new chain whose last common ancestor with the previous chain dates to July 2020,” he noted on Twitter.
Lucas Nuzzi, another Coin Metrics researcher, noted that this caused 200 days of Verge transactions to disappear. He added that this is likely the deepest reorganization in a top 100 blockchain to date.
Whether the issue will be a lasting problem is up for debate. Hasu of Uncommon Core says that the issue is not as bad as it sounds. He notes that Verge node operators can simply “reject the attackers chain and restore the previous one.”
On the other hand, Nic Carter of Coin Metrics has suggested that a solution is unlikely. He believes that although the community could manually reset the blockchain, “Verge is effectively defunct.” He highlighted XVG’s low price appreciation since 2017, implying that solving the problem would not be worthwhile.
The Verge community has not commented on the issue, and the price of XVG was not significantly affected at press time.
At the time of writing this author held less than $50 of Bitcoin, Ethereum, and altcoins.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Source: Read Full Article