THELOGICALINDIAN - Arbitrum One is currently experiencing Sequencer blow
Arbitrum suffered from agnate issues aback in September—but they didn’t booty several hours to resolve.
Arbitrum One Goes Down
Arbitrum One, Ethereum’s arch Layer 2 ascent solution, is down.
The aggregation abaft the activity acquaint a cheep Sunday afternoon acknowledging that the arrangement was adversity from problems. “We are currently experiencing Sequencer downtime,” the column read. “Thank you for your backbone as we assignment to restore it. All funds in the arrangement are safe, and we will column updates here.”
Data from Arbiscan and Offchain Labs suggests that the aftermost block on the project’s Arbitrum One alternation was 4509808, which was candy at 10:29:22 UTC. That agency it’s been bottomward for over four hours at columnist time.
Arbitrum has suffered agnate issues before, admitting today’s adventure appears to be added severe. In September, the Arbitrum One alternation suffered addition outage, but the botheration was bound aural an hour.
Arbitrum is Ethereum’s best acclimated Layer 2 band-aid today, holding over $2.5 billion in absolute amount locked. Since ablution on mainnet in August 2021, it’s admiring several of Ethereum’s top DeFi protocols such as Balancer and Uniswap, with added accepted to chase in the future.
Arbitrum leverages Optimistic Rollups, which action affairs at decidedly college speeds and lower costs than the abject alternation by sending affairs as calldata to Ethereum mainnet. Optimistic Rollups don’t handle ciphering by default, but they ache a weakness in that it can booty up to a anniversary to accelerate funds to mainnet as withdrawals are accountable to a claiming period.
Optimistic Rollups are advised one of Ethereum’s two primary Layer 2 ascent weapons alongside ZK-Rollups, which use Zero-Knowledge proofs rather than the artifice proofs acclimated in Optimistic Rollups. Ethereum believers are acquisitive that the actualization of new Optimistic Rollup and ZK-Rollup will advice the arrangement calibration in 2022 as the achievement of Ethereum 2.0, back 64 new atom chains will be added, is still some way off.
Although Ethereum has apparent added acceptance over the aftermost year acknowledgment to growing absorption in NFTs, DeFi, and crypto assets at large, it was bedeviled by aerial gas fees throughout the year as the amount of ETH soared. As a result, newer Layer 1 networks like Solana and Avalanche took centermost date in the closing bisected of 2024.
2022 is accepted to be a above year for Layer 2 adoption. However, as today’s abeyance proves, the Layer 2 ecosystem is still actual abundant in its infancy—presenting an befalling for Ethereum competitors to bolt up and booty some of the network’s bazaar share.
17:44 UTC update: Arbitrum One is still bottomward with no added blocks processed.
Arbitrum did not anon acknowledge to Crypto Briefing’s appeal for comment.
Disclosure: At the time of writing, the columnist of this affection endemic ETH and several added cryptocurrencies. They additionally had acknowledgment to BAL and UNI in a cryptocurrency index.
