Polygon zkEVM Faces Extended Outage: What You Need to Know
Current data from an in-house Explorer reveals that Polygon zkEVM has been experiencing an outage for more than 12 hours on Saturday. This Layer-2 blockchain protocol, which offers scalability solutions for decentralized applications (DApps) on the Ethereum blockchain, has struggled to gain attention compared to its competitors in the past year.
During this outage, the protocol has been unable to add new blocks to the chain, and there has been no explanation from Polygon regarding the sudden downtime. However, a message on Polygonscan’s zkEVM section states that the network is undergoing unscheduled maintenance and block data may not be up to date.
The Reasons Behind the Outages Remain Unclear
It is uncertain whether the explanation of unscheduled maintenance is accurate or if there are other underlying issues causing the outage. The crypto industry has recently experienced several outages, with Coinbase and Solana being notable examples. These outages have resulted in significant losses in market value for the broader crypto ecosystem.
Coinbase, in particular, faced an outage that led to numerous user reports detailing problems accessing the platform. Some commentators believe that these outages are a result of inferior technologies and infrastructure. To address this issue, Coinbase’s CEO Brian Armstrong announced plans to invest in better infrastructure to meet the growing demand.
Solana also experienced multiple outages, including one in February that rendered the platform dysfunctional for several hours. Market observers emphasize the need to address these outages before they cause irreparable damage to the crypto ecosystem and negatively impact underlying crypto prices.
The Impact on Polygon MATIC Price
Despite the extended outage of Polygon zkEVM, the price of Polygon MATIC has not been significantly affected. At the time of writing, MATIC is trading at $0.9926 with a 3.22% increase in the last 24 hours. This suggests that the news of the outage has not had the predicted negative impact on price.
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