Summary:
StarkWare, the firm behind Ethereum scaling solution Starknet, released funds that were locked up after a system upgrade. $550,000 worth of crypto held in accounts that had not been upgraded became temporarily inaccessible. However, the upgrade has now been reenabled, allowing users to regain access to their accounts. The incident surprised many users and led to frustrations being expressed. Starknet launched the testnet for the Starknet Quantum Leap upgrade in July, which aimed to boost transaction throughput on the Ethereum network. The last necessary upgrade for the Starknet Quantum Leap launched on the mainnet on August 21.
Key Points:
– StarkWare released funds that were locked up after a system upgrade.
– $550,000 worth of crypto held in un-upgraded accounts became temporarily inaccessible.
– Users can now regain access to their accounts.
– The incident surprised and frustrated many users.
– Starknet Quantum Leap upgrade aimed to boost transaction throughput on the Ethereum network.
Hot Take:
The recent incident with StarkWare’s system upgrade highlights the importance of keeping accounts up to date. While the temporary inaccessibility of funds may have caused frustration, it serves as a reminder to regularly perform essential upgrades. The Starknet Quantum Leap upgrade, with its significantly improved transaction throughput, shows the potential for scalability on the Ethereum network. As the crypto industry continues to evolve, it’s essential for developers and users to stay vigilant and adapt to new updates and improvements.
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