On January 23, 2023, Charles Hoskinson, the founder of Cardano (ADA) and IOG, took to Twitter to address the Cardano community regarding a recent node outage that occurred on January 22nd. In a video, he reassured the community that the brief outage was “a little bit of a blip” and “didn't even have any impact at all.”
In the 23-minute video, Hoskinson delved into the delicate balance between prevention and recovery in distributed systems. He explained that as a system becomes more complex, there is a higher probability that there will be “bad cells” within the system. These bad cells must be purged in order to maintain the integrity of the system, especially as it scales.
Hoskinson emphasized that for a “good distributed system,” there must be a balance between prevention and recovery. He went on to say that the Cardano ecosystem is currently experiencing “a very natural growing pain in distributed systems design.” He also mentioned that the system's ability to recover within two minutes of the outage is a positive indication that there is a healthy balance between prevention and recovery mechanisms in place.
However, Hoskinson acknowledged that there could have been additional preventative measures taken to prevent or narrow the possibility of issues arising.
Cardano’s Surprising Outage
On January 22, 2023, approximately 50% of all active relay and block-producing nodes on the Cardano blockchain disconnected for a short period before restarting without intervention. Input Output Global (IOG) stated that the anomaly was not a concern as block production was only impacted briefly and the network became unsynced momentarily before most nodes automatically recovered. The root cause of the outage is currently under investigation.
While the recent node outage on the Cardano blockchain was a minor inconvenience, it serves as a reminder of the importance of balancing preventative measures with recovery mechanisms in distributed systems. The Cardano team is committed to continuously improving the system to ensure the best possible user experience.
Djed Stablecoin Launch Scheduled for Next Week
In other exciting news for the Cardano community, the highly anticipated Djed stablecoin, which has been in active development by IOG (Input Output Global), is finally ready for launch.
In a recent update, the team developing the algorithmic stablecoin announced that the project will be officially released next week. This is great news for Cardano users, who have been eagerly awaiting the launch of this algorithmic stablecoin.
As highlighted earlier, the Cardano blockchain recently experienced a network outage, which caused some frustration among users. However, with the launch of Djed, we can all breathe a sigh of relief. This new stablecoin is expected to bring a fresh perspective to the Cardano ecosystem, and we can't wait to see what it has to offer.
ADA Set to End January on a Good Note
Cardano appears to be facing some headwinds around the $0.380 mark as the cryptocurrency embarks on a pullback to the $0.350 support level. This comes as the broader market runs out of bullish steam.
Regardless, ADA is set to end the month on a positive note, which could help the cryptocurrency begin February on a bullish footing. Also, keep in mind that the Djed stablecoin is reportedly set for launch in the first week of February.
If the cryptocurrency eventually takes the $0.380 mark in the coming days or weeks, it could record “smooth sailing” until the $0.440 mark.
ADA Statistics Data
ADA Current Price: $0.355
ADA Market Cap: $12.2B
ADA Circulating Supply: 34.5B
ADA Total Supply: 35.3B
ADA Market Ranking: #8
This article should not be taken as financial advice. It is essential to conduct research before making any investment decisions.