Polygon disclosed that its zero-knowledge Ethereum Digital Machine (zkEVM) beta faces downtime on account of a sequencer situation.
In a current replace on X, Polygon (MATIC) attributed the problem to an issue with the blockchain sequencer.
Regardless of the setback, Polygon acknowledged that different aspects of its ecosystem, equivalent to its proof-of-stake (PoS) community and chains developed with the Polygon software program growth package, stay unaffected.
The community assured its neighborhood that it’s actively working to resolve the problem and can present an in depth autopsy evaluation as soon as the matter is addressed.
Anticipation continues to construct for the discharge of the second-generation zkEVM, promising enhancements to spice up efficiency. On the time of writing, Polygon had not supplied any additional updates concerning the standing of the zkEVM mainnet beta.
Polygon journey with zkEVM
Polygon’s zkEVM initiative started in March 2023 with the launch of its mainnet beta. Its purpose was to boost good contract deployment with elevated finality and decreased prices.
Nevertheless, the journey hasn’t been with out hurdles. Recall how blockchain safety agency Verichains recognized a flaw final September.
Collaborative efforts between Polygon and Verichains resolved the problem, underscoring the significance of strong safety measures in blockchain ecosystems.
As of the most recent replace, the incident has not notably impacted the value of MATIC. Over the previous 24 hours, the coin has seen a modest enhance of 0.9% and is at present buying and selling at $1.00.
Nevertheless, it has skilled a 5.5% decline over the previous week and one other 19% drop over the earlier fortnight, in keeping with broader market tendencies.
Polygon’s zkEVM outage provides to current disruptions within the crypto market, highlighting the challenges of making certain secure blockchain efficiency.
This incident echoes related outages, together with a major downtime on Solana (SOL) on Feb. 6. The incident, which was Solana’s first in over a yr, noticed the blockchain halt transaction processing, with community engineers and validators from throughout the ecosystem mobilized to handle the problem.