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Polygon zkEVM suffers prolonged outage amid sequencing issues

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on Mar 24, 2024
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  • The blockchain has not produced blocks for nearly 24 hours.
  • Issues with the platform’s sequencer triggered the outage.
  • ZkEVM launched in 2023 to boost scalability for Ether-based dApps.

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Ethereum Layer2 platform Polygon zkEVM encounters a network outage during its anniversary week. Several block explorers reveal that the network hasn’t produced blocks for nearly 24 hours.

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The team explained that sequencing issues from L1 reorganization tampered with the zkEVM Mainnet Beta, causing the outage.

Meanwhile, the project is working to resolve the matter before releasing a comprehensive post-mortem analysis. Notable, the protocol failure will not affect Polygon CDK, Polygon PoS, and Polygon CDK-deployed chains.

Polygon zkEVM is an Ethereum-compatible scaling rollup solution launched on 27 March 2023. Nonetheless, the protocol has struggled to gain traction compared to other L2 rivals.

The network recorded fewer transactions compared to the likes of zkSync and Manta Pacific.

Source – The Block

Crypto outages in 2024

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Polygon zkEVM’s incident is part of recent outages that have plagued the crypto market. For instance, exchange Coinbase crashed continuously as Bitcoin bulls drove past $70K, leading to losses exceeding $100B.

Also, Solana (SOL) suffered a prolonged block-production issue on 6 February, reflecting the challenges of ensuring stable blockchain performance.

Polygon’s developers are working to resolve the ongoing zkEVM malfunctions. Nonetheless, the incident brings worries about the network’s consistency amid the surging competition in the L2 market.

MATIC price outlook

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The outage didn’t affect the native token since it maintained bullishness during this writing. MATIC gained 2.30% in the last 24 hours to trade at $0.9831.

MATIC 1D Chart on Coinmarketcap

Moreover, Polygon enthusiasts remain confident in the asset’s long-term potential, with increased adoption and zero token unlocks as among the catalysts.

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