Band Protocol project stalls blockchain-oracle network upgrade

The Band Protocol decentralized oracle network was unable to carry out the BandChain upgrade to phase two. Data feeds and partners were not affected, no funds were lost, the project team said.

1/ Dear Band Community, we would like to share our post-mortem per the migration process with a detailed timeline of events, our course of action, and resolution plan.

Our oracle feeds and partners were not affected, and no funds were lost.https://t.co/NLuvKwyoeQ

— Band Protocol (@BandProtocol) July 14, 2021

On Wednesday, July 13, 2021, at 14:02 MSK, the Band Protocol team, together with public validators, halted BandChain to prepare for the transition from GuanYu to Laozi.

Three hours after the launch of the new network, several public node validators were unable to connect to their peer nodes. As a result, there were not enough votes to approve new blocks.

The core group of developers repeated the migration with a smaller set of peers, but the validators faced the same problem. This was accompanied by extremely high memory usage by the software running on some validators.

After several attempts to apply potential solutions, the developers concluded that continuing the migration would be too reckless. By consensus, the network was rolled back to the first version.

Approximately three hours after the start of the upgrade attempt, BandChain GuanYu resumed operation.

The project team said it would analyse the issues to ensure that a transition to phase two would proceed successfully in the future.

One of the main reasons for the setback, the developers said, was the difference between the testnet and the mainnet.

“Although extensive testing with two Laozi testnets was conducted before the migration, neither adequately simulated the mainnet environment,” the blog said.

The team plans to present the schedule for subsequent updates to the community in the coming weeks. Band Protocol is confident that the delay will be “insignificant”.

Earlier, the project’s oracle network, a competitor to Chainlink, was integrated by the South Korean platform ICON.

Ethereum co-founder Vitalik Buterin, expressed the view, that the oracle-provider market must be taken on by the decentralized exchange DEX Uniswap, to outpace everyone and spur the development of the decentralized finance ecosystem DeFi.

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