The Filecoin Decentralized Storage Protocol (FIL) was discontinued on December 19th as the bug caused network instability. According to the project report posted by the Filecoin team:
“The Filecoin network was down and most nodes stalled at the maximum of 336459 with a mismatch computation error due to undefined behavior.”
Based on the timeline in the status update, the Filecoin development team took less than four hours to fix the issue. As part of the solution, miners had to switch to a new Lotus client.
Due to network outages, exchanges such as HBTC and KuCoin have warned their users by announcing the suspension of FIL deposits and withdrawals. At the time of publication, the decision has not yet been reversed for both systems.
The Filecoin team actually advised exchanges to turn off their deposits and withdrawals until they were happy with the state of the chain. FIL is currently down more than 7% in the last 24-hour trading period.
Wrapped Filecoin (wFIL) was not affected by the network disruption, according to Mason Borda, CEO of TokenSoft. As Cointelegraph previously reported, Tokensoft and Anchorage launched wFIL software for use on Ethereum back in November.
At the time, Filecoin had just broken the exbibyte 1, or EiB, network storage limit, which is the equivalent of roughly 1 billion gigabytes. According to the Filecoin dashboard, that number is now 1.48 EiB with over 854 active miners.