Binance IEO Kava (KAVA) Delays Its Mainnet Launch
(1/2) UPDATE: Kava Mainnet Restart
There was an issue with starting the KAVA chain today at 14:00 UTC.
Due to coordination issues, it was unclear if we were on the right genesis file and we deemed it unsafe to proceed with the chain.
— Kava Labs (@kava_labs) November 5, 2019
According to the announcement, the Kava mainnet launch was scheduled to occur on November 5 at 9:00 AM EST. However, in the hours preceding and following the planned launch, there were significant communication issues between network validators.
The root cause of the problem seems to be a patch that was applied to the genesis file at around 3:00 AM on November 5. Validators needed to be made aware of the updated genesis file to restart their nodes prior to the launch, and it seems that some validators missed the memo. This resulted in errors such as double signing and abhorrent blocks.
“In the immediate aftermath, it is clear that releasing the genesis file 24 hours before launch, and making an update 6 hours before launch, greatly increased the risk of launch failure,” states the Kava team in the announcement. “Further, although we conducted a successful testnet launch with a code-frozen version of Kava prior to mainnet launch, many validators did not participate using production systems, which left us vulnerable to risks particular to those systems. In the coming days, we will conduct a post mortem of what occurred and take steps to address and correct these issues going forward.”
Kava plans to retry the mainnet launch on November 12 at 9:00 AM EST.
As a result of the delay, KAVA is currently down 8.5% on the day to $0.99, giving the token a $6.7 million market cap.
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