Nov 2, 2020 at 17:10 UTCUpdated Nov 2, 2020 at 17:21 UTC.The Tron blockchain halted creation and execution of blocks due to a "Malicious contract" against a super representative on Nov. 2, according to multiple reports.
First reported by Crypto Briefing, the smart contract blockchain halted block production at 10:00 UTC for some two hours, according to Reddit users.
The event is notable as it validates centralization concerns raised against Tron, which already holds an infamous reputation in blockchain circles.
Tron uses a Delegated Proof-of-Stake consensus mechanism.
DPoS blockchains sacrifice decentralization for throughput by centralizing certain transaction activities to majority nodes.
Tron CEO Justin Sun followed reports with a tweet thread stating that the pause in block production was caused by an attacker exploiting the latest Tron software.
Updating the node's software began block production again, Sun said.
The platform's native token, TRX, is down 3% in 24 hours, according to the CoinDesk 20.Tron did not return questions for comment by press time.
Tron Blockchain Stalled for Hours by 'Malicious Contract,': Sun
Published on Nov 2, 2020
by Coindesk | Published on Coinage
Mentioned in this article
Another mainstream company is seeking approval to invest in crypto
Anthony Scaramucci's investment firm, SkyBridge, seeks approval from the SEC to invest in crypto.
COVID-19 popularized decentralization, but blockchain may not catch on
On Nov. 9, drugmaker Pfizer announced that its COVID-19 vaccine is 90-plus percent effective, and even though it may be premature to proclaim the pandemic's end - as the virus continues to rage in the United States and Europe - once can at least speculate: Where will blockchain adoption stand when the crisis abates?
Bitcoin hits new 2020 high at $16.7K -Traders expect bigger breakout
The price of Bitcoin hit a new yearly high at $16,717 on Binance.
The next big crypto market could be fantasy sports, says Messari
As "Digitally native" ecosystems like esports continue to synergize with blockchain technology, industries like fantasy sports could be primed for mass adoption, says digital research firm Messari.