Blockchain

Ethereum Network Polygon Back Online After Outage

Polygon’s consensus layer is back online after a bug in the network’s validation mechanism knocked it offline for an hour on Wednesday. During the outage, the network’s Heimdall service, which manages validators and syncs the blockchain with Ethereum, became unresponsive.  “Heimdall experienced a temporary disruption that led to a one-hour halt in chain progression, caused by a validator exit,” the Polygon Foundation, a non-profit tasked with supporting the Polygon blockchain, said in an X post

A Polygon spokesperson told DL News that the network was not programmed to account for a validator exit because it is a rare event, and triggered a false alarm as a result. Other blockchains, like Ethereum, regularly handle validator exits with no issues.  “At no point did the chain lose liveliness, i.e. the ability to execute transactions, although explorers being down may have given people this incorrect view,” the spokesperson said. When blockchains go offline it can be a blow to user confidence. 

Polygon users have piled more than $1.4 billion onto the blockchain on the assumption that they will be able to move or withdraw those funds at any time. So when a blockchain goes down, those funds are stuck until it comes back online. Such situations have previously cost users dearly. Futures exchange Hyperliquid announced on Wednesday a plan to refund users who lost money after a 37 minute outage on Tuesday resulted in dozens of delayed trades. Solana has also experienced several outages in recent years, with many traders reporting financial losses because they were unable to close or alter leveraged trades placed through DeFi protocols while the network was offline.

Polygon launched in October 2017 and was among the first cohort of blockchains to offer cheaper transactions than Ethereum. It’s not the first time parts of Polygon have gone down. In 2022, the network experienced an 11 hour outage caused by a bug in a planned upgrade. In March 2024, Polygon’s zkEVM network also suffered a 10 hour drop in service, which its developers attributed to an issue with the blockchain’s sequencer. Polygon’s POL token is down 2.5% on the day.

Terron Gold

Recent Posts

CME Goes 24/7 and Bitcoin’s Famous “CME Gap” Trade Is About to Disappear

The crypto market is entering the end of an era as CME Group officially launches 24/7 Bitcoin and…

6 days ago

VanEck Launches First U.S. Spot BNB ETF as Altcoin ETF Race Accelerates

Asset management giant VanEck has officially launched the first-ever U.S. spot ETF tied directly to BNB, the native…

6 days ago

Sui Suffers Another Major Network Outage as Transactions Grind to a Halt

Layer-1 blockchain Sui experienced another major network outage on May 28 after block production and transaction processing…

7 days ago

DTCC Expands Tokenization Push to Stellar as Wall Street Accelerates Multi-Chain Strategy

The Depository Trust & Clearing Corporation (DTCC) has announced plans to connect its tokenization infrastructure to the Stellar blockchain,…

7 days ago

Robinhood Launches AI Trading Agents That Can Trade Stocks for You

Robinhood is officially entering the “agentic AI” era after unveiling a new beta feature that…

1 week ago

Fold Launches Bitcoin Rewards Credit Card With Up to 4% BTC Back

Bitcoin financial services company Fold has officially begun rolling out its long-awaited Bitcoin rewards credit card, allowing…

1 week ago