Polygon’s zkEVM Encounters Downtime, Quickly Resolves the Issue
Polygon’s beta version of the zero-knowledge Ethereum Virtual Machine (zkEVM) recently faced a setback when its blockchain sequencer experienced an issue, causing downtime. However, the Polygon team acted swiftly to address the problem and implement the necessary fixes.
Resumption of Operations on March 25th
In an update shared by Polygon, the scaling solution announced that its network had resumed operations on March 25th after resolving the problem with the zkEVM.
Emergency Status and Fixing Crucial Issues
The Emergency Council for Polygon’s zkEVM Mainnet Beta declared an emergency status to allow the Polygon zkEVM Core Team to resolve a critical issue. This enabled the resumption of L1 settlement on the Polygon zkEVM Mainnet Beta.
After successfully implementing this update, Polygon lifted the emergency status. Going forward, any system changes will be subject to a 10-day timelock before being implemented.
Impact Limited to Polygon zkEVM Mainnet Beta
It is important to note that the sequencer issue only affected Polygon zkEVM Mainnet Beta and did not have any impact on Polygon PoS, Polygon CDK, or any chains deployed using Polygon CDK.
Polygon clarified that the sequencer issue was a result of an L1 reorg in a previous update.
“This only impacts Polygon zkEVM Mainnet Beta and does not impact Polygon PoS, Polygon CDK, or any chain deployed using Polygon CDK. We thank both the Emergency Council members and the teams of engineers for their diligent work this weekend on resolving this issue.”
Polygon zkEVM’s Growth and Recent Decline
Polygon introduced its zkEVM in March 2023, which quickly gained traction and reached a peak of $187 million in total value locked (TVL) earlier this month. However, there was a slight decline, bringing the TVL down to $155 million as of March 24th, according to data compiled by L2Beat.
The number of distinct addresses on Polygon zkEVM has remained relatively stable throughout the month, with a recorded count of 658k.
Hot Take: Polygon’s Swift Response Ensures Minimal Disruption
Polygon’s zkEVM encountered a temporary setback due to an issue with its blockchain sequencer. However, the team’s quick action and efficient resolution of the problem allowed for the prompt resumption of operations on March 25th.
By swiftly addressing the crucial issue and implementing necessary fixes, Polygon demonstrated its commitment to maintaining a reliable and secure network for its users. The impact was limited to Polygon zkEVM Mainnet Beta and did not affect other components of the Polygon ecosystem.
As Polygon continues to enhance its scaling solutions, it remains dedicated to delivering an optimized experience for decentralized applications built on its platform.
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