After Edgeware, the launch of Cosmos Hub3 also failed. Its a scam, its all a scam...
Both Cosmos and Edgeware have accidents, 1:1 tie
I saw a god comment today, cross-chain double bears
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01. What happened to Twin Bears?
On September 24, the well-known cross-chain project Cosmos originally planned to upgrade the Cosmos Hub 3 at block height 1933000 failed.
According to the plan, starting from this block height, all Cosmos validators need to complete the node upgrade within one hour, but because of an upgrade failure, the nodes need to perform some operations (downgrade to Cosmos SDK v0.34.6+, restore to latest snapshot before restarting the node) is guaranteed to work properly.
The 1,933,000th block of Cosmos was generated around 19:30 on September 24th, Beijing time. Some nodes may not have carefully read the upgrade proposal in advance, and did not anticipate upgrade failures, so they did not respond in a timely manner.
According to the incomplete statistics of the Cosmos block browser mintscan.io and other media, about 10% of the top 100 verifiers in the entire network experienced abnormal block generation at one time. For example, Cryptium Labs, ranked 19th, Ztake.org, ranked 24th, hashtower, ranked 28th, and HyperBlocksPro, ranked 35th, all have leaked blocks for several hours.
Leaking blocks means that nodes and their principals will lose revenue, and will also be punished by the public chain if it affects the operation status of the public chain.
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The information of the node BouBouNode on the browser
According to the rules of Cosmos, if the node does not work normally for 9500 consecutive blocks (about 18 hours), both the node and its delegator will be punished, the deposit of the node will be deducted, and the tokens staking by the delegator will also be punished accordingly. proportional deduction.
In addition to the nodes and clients themselves, empty blocks and leaked blocks will also lead to waste of resources on the chain, and even affect the security of the entire public chain.
According to online information, after the Cosmos mainnet upgrade failed, it has rolled back at block height 1933001 and re-enabled Hub2. At present, the block has resumed verification, but the new upgrade time of Hub3 is still undecided.
Coincidentally, Edgeware, a well-known project in the Polkadot ecosystem, issued an announcement on September 17 two days after the mainnet was launched, saying that the mainnet will be downgraded to a testnet, and that the on-chain testing will be fully completed and all problems will be resolved before re-launching the mainnet .
Edgeware officially attributed the failure of the mainnet launch to there are many problems in the initial configuration of the network. Due to insufficient preparation, various problems occurred after the Edgeware mainnet was launched, such as validators being debited by the system for no reason, the transfer function being disabled on the network, and data display errors on the official website.
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02. It used to be beautiful, but now it has overturned on the mainnet
Both Cosmos and Edgeware can be said to be star projects in the industry this year, and have received widespread attention from users.
Cosmos, a cross-chain project as famous as Polkadot, whose mainnet launch has made the industry look forward to it for 4 years. In 2017, the team raised 250,000 ETH and 4,870 BTC from more than 1,000 investors. Different from staking to obtain network resources in the EOS system, users can also obtain staking income by staking ATOM on Cosmos, which further increases its popularity.
Edgeware is the first project to propose the concept of ILO (initial lock-up offering), users can obtain airdrop tokens by locking ETH. According to the information on the official website, Edgeware attracted more than 10,000 users during the lock-up airdrop period, and the number of ETH lock-ups was close to 5.5 million. In addition, as the first project on the Polkadot network to support smart contracts, Edgeware has also received the official support of Polkadot, becoming the first project to obtain a parachain slot.
However, this mainnet incident, I have to say, made the halo of the two projects dimmed a lot, and also reduced the confidence of users in these two projects.
The so-called main network can be understood as a network where the public chain is actually launched and can operate independently. Compared with the test network stage, the main network stage means that the pre-planned applications have a real running platform, the project has practical applications, its own value can be reflected, and the tokens on the chain will have real value. Therefore, the start of the public chain ecology begins with the main network.
The main network is the foundation of the public chain ecology, and its importance is beyond doubt, but Cosmos and Edgeware stumbled on the main network.
In the Edgeware community, users complained about the Edgeware mainnet: It seems that some nodes have been deducted millions of coins by slash. Is there no one to maintain the network, so many problems, Work hard to be a node, in exchange for test coins, and some people even said slightly jokingly, I feel that the team is not strong enough, and the test coins will also be slashed for you.
On the other hand, following Edgeware, the upgrade of the Cosmos mainnet failed, which caused some users to complain and question the public chain as a whole. A netizen on the forum said: Recently, many project technologies have problems.
In fact, compared to technical issues, the cause of the Cosmos incident should be attributed to community governance issues. I still remember that last year, the EOS node inaction incident caused a lot of noise. The community questioned that supernodes did not fulfill their obligations while enjoying ecological rewards.
And Cosmos can be said to have similar problems with EOS. Although the failure of the mainnet upgrade this time only caused an abnormal block verification for more than 2 hours, through this incident, we can speculate that the Cosmos nodes are on the mainnet governance issue. There are also very big hidden dangers.
On September 25th, Cosmos node operator Polychainlabs tweeted that “Although the Cosmos Hub3 upgrade failed, I hope to see reflections on this incident and improvements in governance.”
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03. The development of the main network catches up with the schedule
The blockchain industry is developing very fast, and new concepts, new ways of playing, and new models will appear every once in a while, which makes it difficult for users to have a lot of patience for the project.
The development of Ethereum, the king of the public chain, is divided into four stages: frontier, homeland, metropolis and tranquility. On March 1 this year, Ethereum completed the upgrade of Constantinople and St. Petersburg, marking that Ethereum has entered a quiet stage and is about to usher in ETH 2.0.
However, looking at the upgrade process of Ethereum Constantinople, it can really be described as twists and turns. The Constantinople upgrade, which was originally planned to be completed in November 2018, was postponed at least three times due to code loopholes, miners’ resistance, etc., and the whole process went extremely unsmoothly. Along with multiple delays and postponements, ETH has also experienced the highest and lowest points of the currency price in the metropolitan stage, followed by the exhaustion of users patience, as well as the wavering and doubts about Ethereum.
At around 3 am on March 1st, before the Constantinople upgrade, some users asked online: Will this upgrade be postponed again?
After the upgrade was successful, the price of ETH did not rise sharply, which also explained the side effects of repeated upgrades of the mainnet from another side: the lack of user interest in it, and the early consumption of market sentiment. The success of the Ethereum Constantinople upgrade, which has been postponed many times, is actually not surprising. Its just that everyone is a little surprised that the price of ETH has no fluctuations. The currency price was originally speculated on expectations, and this topic has been speculated back and forth. After several times, the market sentiment has been digested in advance.
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04. Being a node is more like making an investment
In the public chain ecology that adopts the PoS/DPoS consensus mechanism, the more and longer the user holds coins, the greater the rights and interests they have, and at the same time, there is a greater probability of becoming a node on the chain and obtaining bookkeeping rights. The level of the users status depends largely on the amount of wealth. This also leads to the strong getting stronger.
It is understood that EOS super nodes can receive 5% of additional tokens issued each year. On average, each node can obtain about 2.38 million EOS per year. Even at the price of 20 RMB per coin in the current bear market, the annual income of a node is also 5000. About 10,000 RMB.
In March last year, EOS launched the super node campaign. Attracted by huge interests, many individuals and institutions participated in the campaign. From a certain point of view, being a node in the PoS/DPoS ecosystem is more like an investment. Compared with obligations, nodes pay more attention to income.
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05. At the stage when we should fight for ecology, dont let basic problems ruin the development of the mainnet
Since 2019, the industrys focus on the public chain has shifted from TPS to how to build an ecosystem and acquire users. This is also the reason for the explosion of concepts such as Defi, staking, and cross-chain this year. The market hopes to see more diverse and actual development of public chains.
Ecological construction and user capture and retention are more complex issues than technology and community governance. Industry competition has entered the fast lane of application landing. With the reshuffle of the bear market, public chain competition will only become more intense than before.
In this context, if the public chain has problems with the basic functions of the main network, and the system has frequent bugs in basic operations, the ecological construction of the public chain may only be regarded as a false proposition.
Reference article:
Reference article:
Cosmos upgrade encounters a failure, and a large number of nodes may not respond in time, which may lead to coin deduction by Rudy Ludi
Edgeware mainnet failed to start, and the development team didnt even fix the testnet bug? 》by Block Rhythm
