See More

Layer-2 zkSync Post Mortems Christmas Day Network Outage 

2 mins
Updated by Kyle Baird
Join our Trading Community on Telegram

In Brief

  • The Ethereum layer-2 network, zkSync Era, experienced a five-hour outage on Christmas Day due to an automated safety procedure.
  • The outage was caused by a simple software bug related to state updates, which has now been resolved; no funds were at risk.
  • zkSync Era is the fourth largest layer-2 by total value locked, with a market share of 3%, trailing behind Arbitrum One and Optimism.
  • promo

Ethereum layer-2 network zkSync Era suffered an outage this week, which was triggered by one of the network’s automated safety procedures, according to the team. 

The zkSync Era team got an unwanted Christmas present on December 25 when the network suffered a five-hour outage.

Systems are running normally now, and the team has provided a post-mortem explaining what knocked the layer-2 network offline. 

zkSync Post-Mortem 

According to the explanation, there was “an edge-case bug in how the operator computed the state update.” The problem was a subtle, relatively simple software bug related to state updates, it added

It confirmed that no funds were at risk, and the problem has been resolved. 

“The sequencer was fully operational but acted too defensively based on a now unnecessary safety procedure. The team addressed the issue, and the network was immediately healthy again. No funds were ever at risk.” 

The defensive posture was overly cautious given the network’s current maturity, the team stated. Moreover, the execution delay provided time to address issues without halting operations, but resolving this took longer due to the holiday period. 

Find out more: What Is zkSync?

The statement said,

“Once we fixed the issue, we immediately published an updated version of the node software so that other node operators could deploy the changes.”

zkSync was among a number of networks, including Arbitrum and Cronos, to suffer outages during the inscriptions craze earlier this month.

Degens flocked to various blockchains to inscribe memecoins, testing throughput to the limits, and some blockchains failed to handle it.

Layer-2 Ecosystem Outlook 

According to L2beat, zkSync Era ranks as the fourth largest layer-2 with a total value locked of $565 million.

zkSync Era TVL. Souce: L2beat

The network was launched in alpha on March 24, and TVL soared to an all-time high of $735 million by early July. While falling from that peak, zkSync TVL has been trending up for the past two months. 

The network also had a rocky start with a security breach and third-party project rug pull. 

zkSync has a market share of 3%, which is way behind market leaders Arbitrum One and Optimism. The two Ethereum scaling networks have a combined market share of around 80%. 

Moreover, layer-2 ecosystem TVL has also just hit a new all-time high of $18.5 billion. This represents a gain of more than 300% so far in 2023, outpacing DeFi and crypto markets. 

Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

profile.jpg
Martin Young
Martin Young is a seasoned cryptocurrency journalist and editor with over 7 years of experience covering the latest news and trends in the digital asset space. He is passionate about making complex blockchain, fintech, and macroeconomics concepts understandable for mainstream audiences.   Martin has been featured in top finance, technology, and crypto publications including BeInCrypto, CoinTelegraph, NewsBTC, FX Empire, and Asia Times. His articles provide an in-depth analysis of...
READ FULL BIO
Sponsored
Sponsored