Polygon recently announced that its zero-knowledge Ethereum Virtual Machine (zkEVM) beta is experiencing downtime due to a sequencer issue. The problem was identified as a blockchain sequencer issue, causing disruption to the Polygon zkEVM Mainnet Beta. The team is actively working to resolve the problem and will provide a detailed post-mortem analysis once the issue is resolved. Despite this setback, other aspects of the Polygon ecosystem, such as its proof-of-stake (PoS) network and Polygon CDK, remain unaffected.

The community eagerly awaits the release of the second-generation zkEVM, which promises performance enhancements. As of now, there are no further updates on the status of the zkEVM mainnet beta. The zkEVM initiative by Polygon began in March 2023 with the launch of its mainnet beta, aiming to improve smart contract deployment with increased finality and reduced costs. However, the journey has not been without challenges, as a critical vulnerability was identified by blockchain security firm Verichains in September. Collaborative efforts between Polygon and Verichains successfully resolved the issue, emphasizing the importance of robust security measures in blockchain ecosystems.

Despite the zkEVM outage, the price of MATIC has not been significantly impacted. Over the past 24 hours, the coin has seen a slight increase of 0.9% and is currently trading at $1.00. However, it has experienced a 5.5% decline in the past week and a 19% drop in the previous fortnight, aligning with broader market trends. The zkEVM downtime adds to recent disruptions in the crypto market, underscoring the challenges of maintaining stable blockchain performance. This incident mirrors other outages in the industry, such as Solana’s significant downtime on Feb. 6, which required a coordinated effort from network engineers and validators to address the issue.

Post Views: 3