Ethereum Layer 2 Arbitrum One Hit By One other Outage


Key Takeaways

Arbitrum’s Arbitrum One chain is down. The final block on the community was processed at 10:29:22 UTC.
Arbitrum has confirmed that it’s “experiencing Sequencer downtime.”
Arbitrum is one in all many Layer 2 options aiming to assist Ethereum overcome its scalability challenges.

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Arbitrum suffered from comparable points again in September—however they didn’t take a number of hours to resolve. 

Arbitrum One Goes Down 

Arbitrum One, Ethereum’s main Layer 2 scaling answer, is down. 

The crew behind the undertaking posted a tweet Sunday afternoon confirming that the community was affected by issues. “We’re at present experiencing Sequencer downtime,” the put up learn. “Thanks to your endurance as we work to revive it. All funds within the system are secure, and we’ll put up updates right here.” 

Information from Arbiscan and Offchain Labs means that the final block on the undertaking’s Arbitrum One chain was 4509808, which was processed at 10:29:22 UTC. Meaning it’s been down for over 4 hours at press time. 

Arbitrum has suffered comparable points earlier than, although at the moment’s incident seems to be extra extreme. In September, the Arbitrum One chain suffered one other outage, however the issue was resolved inside an hour. 

Arbitrum is Ethereum’s most used Layer 2 answer at the moment, holding over $2.5 billion in complete worth locked. Since launching on mainnet in August 2021, it’s attracted a number of of Ethereum’s prime DeFi protocols comparable to Balancer and Uniswap, with extra anticipated to comply with sooner or later. 

Arbitrum leverages Optimistic Rollups, which course of transactions at considerably greater speeds and decrease prices than the bottom chain by sending transactions as calldata to Ethereum mainnet. Optimistic Rollups don’t deal with computation by default, however they endure a weak point in that it may possibly take as much as per week to ship funds to mainnet as withdrawals are topic to a problem interval. 

Optimistic Rollups are thought of one in all Ethereum’s two major Layer 2 scaling weapons alongside ZK-Rollups, which use Zero-Data proofs fairly than the fraud proofs utilized in Optimistic Rollups. Ethereum believers are hoping that the emergence of recent Optimistic Rollup and ZK-Rollup will assist the community scale in 2022 because the completion of Ethereum 2.0, when 64 new shard chains shall be added, remains to be a way off. 

Though Ethereum has seen elevated utilization during the last 12 months because of rising curiosity in NFTs, DeFi, and crypto belongings at massive, it was suffering from excessive fuel charges all year long as the worth of ETH soared. Because of this, newer Layer 1 networks like Solana and Avalanche took middle stage within the latter half of 2021. 

2022 is predicted to be a significant 12 months for Layer 2 adoption. Nevertheless, as at the moment’s outage proves, the Layer 2 ecosystem remains to be very a lot in its infancy—presenting a chance for Ethereum rivals to catch up and take a number of the community’s market share. 

17:44 UTC replace: Arbitrum One remains to be down with no additional blocks processed.

This story is creating and shall be up to date as additional particulars emerge. 

Arbitrum didn’t instantly reply to Crypto Briefing’s request for remark. 

Disclosure: On the time of writing, the writer of this function owned ETH and a number of other different cryptocurrencies. Additionally they had publicity to BAL and UNI in a cryptocurrency index. 

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