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.
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.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.