Flow Blockchain Implements Mainnet-28 Fix, Transactions Paused
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Protocol Fix Implementation: On December 28, the Flow Foundation successfully deployed the Mainnet-28 protocol fix, placing the blockchain in an 'idle/read-only' state with transaction suspension after unanimous approval from validators, highlighting a strong emphasis on user asset security.
- Market Reaction: Following the fix, Flow (FLOW) experienced a sharp 31.54% price drop, trading at $0.12 with a market cap of $193.10 million, reflecting market concerns over network restoration and sensitivity to security vulnerabilities.
- Impact of Transaction Suspension: The network's read-only status affects decentralized finance and cross-chain transfers, indicating that Flow must conduct necessary partner synchronization to restore full network activity post-fix.
- Future Outlook: The Flow Foundation emphasizes that while addressing protocol vulnerabilities, future updates will clarify regulatory impacts, demonstrating the company's strategic commitment to overcoming market challenges and enhancing network security.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
