Summary
TLDR: Polygon’s zkEVM experienced a 12-hour downtime due to a glitch in the protocol sequencer. Despite concerns about reliability and scalability, the network has been restored with plans for upgrades. Emin Gün Sirer warns against “trash L2s” and urges diligence in evaluating Layer 2 networks. MATIC token remains unaffected with modest growth.
Key Points
1. Polygon’s zero-knowledge Ethereum Virtual Machine (zkEVM) experienced significant downtime lasting over 12 hours, prompting concerns about reliability and scalability.
2. The downtime was attributed to a glitch in the protocol sequencer triggered by a Layer 1 reorganization, impacting transaction verification and organization in Layer 2 networks.
3. Despite the challenges, Polygon has plans to upgrade the zkEVM protocol in the coming weeks to address issues and enhance performance.