Kava takes pride in being one of the leading Defi platforms that offer cross-chain CDP for leveraging and hedging of popular digital assets. The platform renders the users to collateralize their virtual assets for free of cost via its multi collateral CDP system. Having been secured by more than 100 validators, the Kava CDP solution ensures that your digital holdings are safeguarded by the best professional validator services.
On Tuesday, Kava Labs had to face an unfavorable situation as it was forced to put down its efforts for the launch of its mainnet. The primary reasons for the delay are being revealed to be the chain validator coordination issues that popped up during the process. As per the official announcement, the Kava mainnet launch was planned to happen on November 5, 2019, at 9:00 AM EST. However, this launch failed miserably because of the significant communication problems that emerged between the network validators in the hours preceding and succeeding in the 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
The critical communication issue is being attributed to the application of a patch to the genesis file at around 3:00 AM on November 5. It was required to make the validators aware of the updated genesis file so that they could have restarted their nodes before the launch. Interestingly, some validators failed to do so, which eventually resulted in double signing and abhorrent blocks.
The Kava team stated that
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. 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.
The reports suggest that the mainnet launch delay has resulted in a down of 8.5% for KAVA. It is presently moving at $0.99 with a market cap of $6.7 million.
Kava has decided to give a second chance to its highly anticipated launch of the mainnet again on November 12, 2019, at 9:00 AM EST. It is adamant to resolve the earlier issues and initiate the launch for the second time with utmost consideration and scrutiny.