Zano Wipes 24 Hours of History Amid Inflation Bug Crisis

The blockchain network Zano is facing an unexpected crisis due to an inflation bug tied to Gateway Addresses. This has led the team behind Zano to decide on a drastic measure - erasing roughly 24 hours of transaction history.

The issue was discovered after the introduction of Gateway Addresses in Hard Fork 6 at block 3,833,000 on August 26. These addresses were designed to make it easier for exchanges and decentralized exchanges (DEXes) to handle Zano transactions. However, an inflation bug has now forced the team to roll back the chain.

The rollback will wipe out approximately 24 hours of accepted transactions, which includes legitimate transactions. This means that users who conducted economic activity involving ZANO and Confidential Assets during this time period will lose their transactions, and any unauthorized coins created as a result of the bug will be reimbursed by Zano.

Zano's price took a hit after the news went viral, shedding around 20% to trade at $6.05 per unit. The team behind Zano has promised reimbursement for losses caused by the rollback but has yet to publish the target rollback height, patched binaries, or the amount of unauthorized assets created.