New Crypto-Platform Beam’s Blockchain Stops Due to “Improper Block Generation”

Whenever a new platform or a firm comes in light, some technical issues are bound to occur in its initial stage. One such recently found crypto entity is going through the technical glitches in its Blockchain.

Beam, privacy focussed new cryptocurrency platform has announced through its Twitter handle that it has found that the blockchain has stopped. The firm said that the network was going through technical difficulties, because of that it “stopped at block 25709.” the platform firmly assured that they have already started to detect the issue. Later, Beam unveiled the details via the Tweet:

Issue identified and fix found. Funds are safe. Commit to GitHub in the coming hour. Binaries and detailed Post-mortem later today. Thanks for your patience and stay tuned.

— BeamPrivacy (@beamprivacy) January 21, 2019

The tweet confirmed that they have found the problem and fixed it, emphasizing that the funds of customers are safe. Further, it noted, “Commit to GitHub in the coming hour. Binaries and detailed Post-mortem later today. Thanks for your patience and stay tuned.”

After providing such confirmations on Twitter, the crypto firm explained regarding the bug which caused this issue, in a blog post. It stated that the bug located as a “rare scenario [that] resulted from the untypical (yet valid), wallet usage pattern which caused the nodes to fail to mine the next block after height 25709.” Also, throughout the scenario, the platform kept its user base updated about the status of the issue.

Beam was recently launched in January and the only cryptocurrency which was built on a protocol named Mimblewimble. Mimblewimble is a kind of protocol used to ensure that transactions cannot be traced and are confidential enough. However, the crypto firm has gone through some troubles since its launch. As reported on January 9th, the team at Beam found a “critical vulnerability” in the software for their wallet. Following the detection, the firm asked its customers to uninstall the wallet app immediately and re-download a safer patched version of the wallet from the website. Though, even after correcting the bug, the risk for users’ funds was still existing, as attackers could still modify transactions and stealing digital assets.

Apart from that, one more privacy cryptocurrency was launched Last week, which was built on Mimblewimble protocol.