Ethereum Layer-2 Network zkSync Era Outage Explained
The zkSync Era team experienced a five-hour outage on Christmas day, caused by an automated safety procedure. However, the network is now running normally.
zkSync Post-Mortem
According to the team’s explanation, the outage was triggered by a software bug related to state updates. Fortunately, no funds were at risk and the problem has been resolved.
The sequencer acted too defensively based on an unnecessary safety procedure. The issue has been addressed and no funds were ever at risk.
The defensive posture was deemed overly cautious for the network’s maturity. Resolving the issue took longer due to the holiday period.
Layer-2 Ecosystem Outlook
zkSync Era ranks as the fourth largest layer-2 network with a total value locked of $565 million. It experienced a security breach and a rug pull in its early stages.
Despite this, zkSync TVL has been trending up for the past two months. However, it still lags behind market leaders Arbitrum One and Optimism, which hold around 80% of the market share.
The layer-2 ecosystem as a whole has reached a new all-time high of $18.5 billion in TVL, outperforming DeFi and crypto markets in 2023.
Hot Take: zkSync Era Recovers from Outage and Continues to Grow
While zkSync Era faced an unfortunate outage caused by a software bug, the team swiftly resolved the issue without any funds being at risk. Despite this setback, zkSync Era remains one of the top layer-2 networks with significant value locked. The layer-2 ecosystem as a whole is experiencing remarkable growth, surpassing DeFi and crypto markets. This incident serves as a reminder of the challenges faced by emerging technologies and the importance of continuous improvement and vigilance in network operations.
By
By
By
By
By
By