Polygon

<p><em><strong>Polygon revealed that their beta version of the zero-knowledge Ethereum Virtual Machine (zkEVM) is experiencing downtime because of a sequencer problem.</strong></em></p><h2 id="header-0">Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>In a recent announcement on X, Polygon (MATIC) stated that the problem with their zero-knowledge Ethereum Virtual Machine (zkEVM) beta was caused by an issue with the blockchain sequencer.</p><h2 id="header-1">Polygon zkEVM Mainnet Beta Encounters Issue</h2><p>Polygon’s zkEVM <a href="https://cryptosheadlines.com/sei-labs-launches-mainnet-beta/" rel="noopener noreferrer nofollow">mainnet beta</a> faced an issue with its sequencer due to a Layer 1 (L1) reorganization. This problem only affects Polygon’s zkEVM, which is its sole rollup solution, and does not impact other aspects of the Polygon ecosystem, such as its proof-of-stake (PoS) <a href="https://cryptosheadlines.com/kraken-considers-utilizing-polygon-for-layer-2-network-development/" rel="noopener noreferrer nofollow">network or chains developed with the Polygon</a> software development kit (CDK).</p><blockquote>Polygon zkEVM Mainnnet Beta faced an issue with its sequencer due to an L1 reorg. We are working on fully resolving the issue and will follow up with a detailed post-mortem.This only impacts Polygon zkEVM (which is the only rollup) and does not impact Polygon PoS, Polygon CDK,…— Polygon | Aggregated (&#64;0xPolygon) <a href="https://twitter.com/0xPolygon/status/1771671172834283539?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">March 23, 2024</a></blockquote><p>Despite the setback, Polygon assured its community that it is actively working to fully resolve the issue. Once the matter is addressed, Polygon plans to provide a detailed post-mortem analysis.</p><p>Meanwhile, anticipation is growing for the release of the second-generation zkEVM, which promises enhancements to improve performance. As of now, Polygon has not provided any additional updates regarding the status of the zkEVM mainnet beta.</p><h3 id="polygon-s-zkevm-initiative-enhancing-smart-contract-deployment">Polygon’s zkEVM Initiative: Enhancing Smart Contract Deployment</h3><p>Polygon’s zkEVM initiative commenced in March 2023 with the introduction of its mainnet beta. The primary objective was to improve <a href="https://cryptosheadlines.com/stellar-and-certora-enhance-soroban-smart-contract-security/" rel="noopener noreferrer nofollow">smart contract deployment by enhancing</a> finality and reducing costs.</p><h2 id="header-2">Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>However, the journey has encountered obstacles. Last September, blockchain security firm Verichains identified a flaw in the system.</p><p><a href="https://cryptosheadlines.com/shiba-inu-whale-dumps-1-trillion-shib-amid-price-bearishness/" rel="noopener noreferrer nofollow">Also Read:   Shiba Inu Whale Dumps 1 Trillion SHIB Amid Price Bearishness</a></p><p>Polygon and Verichains collaborated to address the issue, highlighting the significance of robust security measures in blockchain ecosystems.</p><blockquote><img src="https://academy-public.coinmarketcap.com/optimized-uploads/52761ce2fad04d6e9c236e46d923a3e1.svg&#43;xml" />Bug DisclosureThe team at <a href="https://twitter.com/Verichains?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">&#64;Verichains</a> has just published a detailed blog on the critical vulnerability we discovered in Polygon&#39;s zkEVM.A huge shoutout to <a href="https://twitter.com/0xPolygon?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">&#64;0xPolygon</a> for their swift action, ease of cooperation &amp; generous bug bounty!&gt;&gt; Find out more here:… <a href="https://t.co/D51NoXe9s7" rel="noopener noreferrer nofollow">pic.twitter.com/D51NoXe9s7</a>— Verichains (&#64;Verichains) <a href="https://twitter.com/Verichains/status/1770336347922034856?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">March 20, 2024</a></blockquote><h3 id="impact-of-polygon-s-zkevm-outage-on-matic-price">Impact of Polygon’s zkEVM Outage on MATIC Price</h3><p>Despite the zkEVM outage, there hasn’t been a notable impact on the price of MATIC. Over the past 24 hours, the coin has experienced a modest increase of 0.9% and is currently trading at $1.00.</p><p>However, MATIC has <a href="https://cryptosheadlines.com/sec-faces-challenges-in-legal-fight-against-terraform-labs-judge-indicates/" rel="noopener noreferrer nofollow">faced challenges</a> over the past week, witnessing a 5.5% decline, and a further 19% drop over the previous fortnight, aligning with broader market trends.</p><p>Polygon’s zkEVM outage adds to recent disruptions in the crypto market, shedding light on the difficulties of maintaining stable blockchain performance.</p><p>This incident mirrors similar outages, such as the significant downtime experienced by Solana (SOL) on Feb. 6. This marked Solana’s first major disruption in over a year, prompting network engineers and validators to swiftly address the issue.</p><p><em><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</em></p>

Matic Price Unaffected as Polygon zkEVM Beta Encounters Issue

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