b2b-daily
Home | IT | DevOps

Degen Chain Halts for 53 Hours, DEGEN Value Plummets

Avatar photo
by Dwaine Evans
May 17, 2024
Degen Chain Halts for 53 Hours, DEGEN Value Plummets

The cryptocurrency landscape faced another hiccup as Degen Chain, a layer-3 blockchain built on Ethereum, suffered a major technical setback. Operations screeched to a halt due to a custom configuration change gone awry, leading to a 53-hour freeze in block production. Degen Chain’s native token, DEGEN, took a significant hit following the network disruption, with the price tumbling by 24% since the issue was first detected. This incident has not only affected day-to-day transactions but has also rendered popular decentralized applications connected to Degen Chain, like DegenSwap and Mint Club, nonfunctional.

The halt has unleashed a wave of unrest among users and investors, as the underlying problem points to potential vulnerabilities in the infrastructure of such emerging blockchains. As developers scramble for a fix, the network currently stands at a standstill. Conduit, the rollup infrastructure platform associated with Degen Chain, has since identified the root cause and presented a resolution requiring a full resynchronization from the original genesis block.

The Ripple Effect on the Crypto Landscape

Degen Chain, an Ethereum-based layer-3 blockchain, encountered a severe glitch due to an ill-fated custom configuration change, leading to a 53-hour standstill in its block production. The network disruption heavily impacted its native currency, DEGEN, which saw its value plummet by 24% amid the breakdown. The freeze also crippled key DeFi apps on the chain, including DegenSwap and Mint Club, disrupting user transactions and fueling investor concerns over the platform’s stability.

The unexpected stoppage has exposed potential flaws in the nascent blockchain’s structure, sending developers into a frenzy to devise a solution. The affiliated rollup platform Conduit has since pinpointed the issue and suggested a remedy that entails restarting the entire chain from the initial genesis block. This alarming event underscores the fragility of emerging crypto platforms and shakes confidence in their resilience. Efforts continue to revive normal functions and regain user trust in Degen Chain’s operations.

Blockchain TechnologyCryptoInformation Security

Explore more

Agentic AI Redefines the Software Development Lifecycle
January 9, 2026

The quiet hum of servers executing tasks once performed by entire teams of developers now underpins the modern software engineering landscape, signaling a fundamental and irreversible shift in how digital products are conceived and built. The emergence of Agentic AI Workflows represents a significant advancement in the software development sector, moving far beyond the simple code-completion tools of the past.

Is AI Creating a Hidden DevOps Crisis?
January 9, 2026

The sophisticated artificial intelligence that powers real-time recommendations and autonomous systems is placing an unprecedented strain on the very DevOps foundations built to support it, revealing a silent but escalating crisis. As organizations race to deploy increasingly complex AI and machine learning models, they are discovering that the conventional, component-focused practices that served them well in the past are fundamentally

Agentic AI in Banking – Review
January 9, 2026

The vast majority of a bank’s operational costs are hidden within complex, multi-step workflows that have long resisted traditional automation efforts, a challenge now being met by a new generation of intelligent systems. Agentic and multiagent Artificial Intelligence represent a significant advancement in the banking sector, poised to fundamentally reshape operations. This review will explore the evolution of this technology,

Cooling Job Market Requires a New Talent Strategy
January 9, 2026

The once-frenzied rhythm of the American job market has slowed to a quiet, steady hum, signaling a profound and lasting transformation that demands an entirely new approach to organizational leadership and talent management. For human resources leaders accustomed to the high-stakes war for talent, the current landscape presents a different, more subtle challenge. The cooldown is not a momentary pause

What If You Hired for Potential, Not Pedigree?
January 9, 2026

In an increasingly dynamic business landscape, the long-standing practice of using traditional credentials like university degrees and linear career histories as primary hiring benchmarks is proving to be a fundamentally flawed predictor of job success. A more powerful and predictive model is rapidly gaining momentum, one that shifts the focus from a candidate’s past pedigree to their present capabilities and