Tron Blockchain Stalled for Hours by ‘Malicious Contract,’ Justin Sun Says

Technology

The Tron blockchain halted creation and execution of blocks due to a “malicious contract” against a super representative on November 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 (DPoS) 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.

Products You May Like

Articles You May Like

99% gone in 60 seconds: How a Polkadot trader may have crashed DOT futures
NFTs are like ICOs in 2017 and Altcoins in 2013 – Litecoin Creator
Price analysis 3/5: BTC, ETH, ADA, BNB, DOT, XRP, UNI, LTC, LINK, BCH
Tron’s Justin Sun Bids $0.5M For NFT of Jack Dorsey’s First Tweet
Theta, Aavegotchi (GHST) hit new highs as Bitcoin price chases after $50K

Leave a Reply

Your email address will not be published. Required fields are marked *