Crypto NewsAltcoinPopular Altcoin Fails to Produce Blocks on One of Its Subnets for...

Popular Altcoin Fails to Produce Blocks on One of Its Subnets for a Long Time

A popular layer-2 altcoin announced that one of its subnets has been unable to produce blocks for a long time. Here are the details.

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Polygon (MATIC) zkEVM, the Ethereum Layer 2 network that launched around a year ago this week, is currently experiencing a network outage. Multiple block explorers have reported a long-lasting outage since a block was successfully sorted and added to the chain.

A message in the zkEVM section of Polygonscan indicates that the zkEVM mainnet network is currently undergoing unscheduled maintenance and block data may be out of date.

Polygon zkEVM was launched with a symbolic first transaction by Vitalik Buterin on March 27, 2023. The network is a zero-knowledge scaling rollup solution compatible with the Ethereum Virtual Machine (EVM). Despite its innovative approach, Polygon zkEVM has struggled to gain the traction of similar Layer 2 networks, being traded much less than its competitors.

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Polygon (MATIC) official X account made the following statement regarding the outage from their official accounts:

“Polygon zkEVM Mainnnet Beta encountered an issue with its sequencer due to layer 1 reconfiguration. We are working to fully resolve the issue and will follow up with a detailed post-mortem report. This issue only affects Polygon zkEVM (which is a single rollup) and does not affect Polygon PoS, Polygon CDK, or any chain deployed using Polygon CDK. “We look forward to the launch of the second generation zkEVM in the coming weeks.”

*This is not investment advice.

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