The IOTA network was down again yesterday evening. The IOTA team solved the problem after a break of about 17 hours and normal operation was restored.
The IOTA main network is down again. The coordinator could not create any ‘milestone’ from yesterday evening until a correction is applied today at 15.30. Statements made by the IOTA Foundation on the subject were as follows:
Milestones cannot be issued by Compass in the IOTA mainnet.
November 12 at 23.50: Developers are investigating the situation.
13 November at 05.30: We are doing a work to correct the current situation.
13 November at 10.00: We are working to correct the current situation.
13 November TSI 16.20: We released a new version of Hornet. Please make sure to update it if you are running a node.
13 November at 16.37: The problem has been solved. Please make sure you are using the latest version of the node software.
After a break of approximately 17 hours, the network returned to normal operation.
These developments regarding IOTA reminded me of the Trinity attack in February. At that time, the coordinator in charge of validating milestones on the IOTA mainnet was inactive for several weeks after a hacker discovered and exploited the vulnerability in the Trinity wallet’s MoonPay integration.
The reason why the coordinator does not work for data operations but for value transfers is unknown and the subject is all about speculation at the moment… Until the article was written, no detailed explanation was made from the IOTA Foundation. Rumors are that a community member who signed up for the foundation might have organized it through a spam test.
IOTA Chrysalis stage will be ready in early 2021
As bad news for the IOTA main network downtime, good news for IOTA members is also on the way. It was stated that IOTA 2.0, which can work without a coordinator, is approaching. Jakub Cech, technical director at the IOTA Foundation, reported in the November news update the great progress in implementing the second phase of Chrysalis.
Cech said in the coming weeks they plan to test the first version of the IOTA Foundation’s new wallet software and open the test network to everyone:
“Our partners and exchanges can test new client libraries and plan their integration. Since we will test it in more detail in the next stages, anyone can join the test network. Along with all these, we plan to complete the important integrations in December. This will allow us to initiate inspections and run final rounds of tests. We expect the inspection and final test rounds to take a few weeks. As a result, we can say that the Chrysalis mainnet will be ready early in the new year ”
Cech also said the Winternitz One-Time Signature (W-OTS) plan was lifted from Chrysalis’ second phase. According to the technical director of the foundation; this removal will pave the way for a much lighter IOTA protocol. This will enable smaller transactions, easier usage experience and faster development of new technologies.
However, quantum resistance will continue to be a target for IOTA:
“We still see post-quantum technology encryption as a critical issue for the long-term future of the project. We are currently working with leading quantum encryptors to comply with NIST standards coming in 2021. “