2024-03-24
Despite being natively compatible with ERC-20-based applications for Ethereum DApps, Polygon zkEVM has not garnered as much attention as some other Layer-2 solutions in the past year.
Polygon zkEVM was released nearly a year ago on March 27, 2023.
It provides scalability solutions for decentralized applications (DApps) running on the Ethereum blockchain.
Over the years Polygon zkEVM has failed to be as good as other layer-2s.
According to the data used, the system has a lower volume than many of its previous competitors.
As can be seen, the layer 2 blockchain cannot complete execution or add more blocks at regular intervals.
Data from various block explorers shows that the last time a block was added to the chain was more than 12 hours ago.
The team behind Polygon zkEVM has not yet made any statement about the immediate result.
However, in the zkEVM section of Polygonscan there is a message:
"The zkEVM mainnet network is currently operating intermittently and block data may not be accurate."
It is not yet clear whether the "External audit" project, which is explained as the reason for the energy, will continue or not .
It is worth noting that the cryptocurrency market has been affected by the disruption in recent weeks with the participation of Coinbase and Solana.
It has approximately 100 billion dollars at its center.
Shortly after Bitcoin's price rose to ATH, it did the same again.
Data from DownDetector shows that within 24 hours, more information about the issue was shared detailing the Coinbase outage.
Cryptocurrency commentator MartyParty believes that the outage was caused by poor quality equipment and technology used by the company. In an effort to ease users' concerns, Coinbase CEO Brian Armstrong announced that the company plans to invest in better infrastructure to meet the huge demand.
Similarly, Solana has also been the victim of numerous attacks; One of these occurred in February and caused the platform to be unavailable for 5 hours.
Industry experts believe that these interventions are increasing and must be stopped to prevent eventual damage to the crypto ecosystem.
The impact on the value of the underlying cryptocurrency could be equally negative.
At the time of this writing, Polygon MATIC is trading at $0.9926, up 3.22% in the last 24 hours, indicating that news of the outage had no impact on the price.
