Arbitrum (ARB), a outstanding Ethereum scaling solution, encountered a major downtime occasion on December 15, based on the community’s status page.
The incident prompted a direct investigation into the basis trigger and the deployment of a repair. As of the time of writing, the Arbitrum One community remained inaccessible for over 60 minutes as a consequence of sequencer and feed points.
Arbitrum Struggles With Network Downtime
The standing replace from Arbitrum acknowledged the issue, stating that the Arbitrum One Sequencer and Feed stalled at 10:29 AM ET amidst a notable surge in community visitors.
Notably, Martin Köppelmann, co-founder of Gnosis, alleged that the outage skilled throughout the Arbitrum community was a results of ordinals. Köppelmann remarked that the stress testing of assorted blockchains utilizing ordinals had led to the disruption, stating, “Ordinals stress testing various blockchains is certainly entertaining to watch. Now they brought the Arbitrum sequencer down.”
In addition to the sequencer and feed points, Arbitrum additionally encountered a halt in block manufacturing, ceasing to generate new blocks roughly 1.5 hours in the past. The affect of this stoppage on the community’s general performance and transaction processing stays a priority for customers and stakeholders.
The investigation into the basis explanation for the downtime is essential for understanding the underlying technical points and stopping related disruptions sooner or later. Users and business individuals eagerly await the autopsy evaluation from Arbitrum, which can present a detailed account of the incident and the proposed remedial measures.
ARB Thrives Despite Market Volatility
Over the previous 24 hours, the ARB token skilled a decline of 4.94%, reflecting short-term market fluctuations. However, the token has demonstrated relative stability when contemplating its efficiency over longer timeframes.
In the final 180 days, ARB has proven a significant growth of 17.76%, indicating a constructive pattern for long-term traders.
According to Token Terminal data, Arbitrum presently boasts a circulating market capitalization of $1.49 billion, with a completely diluted market capitalization of $11.69 billion.
Revenue generated by the mission has skilled vital development over the previous 30 days, with a notable enhance of 68.00%. The income projection on an annualized foundation stands at $85.97 million, highlighting the mission’s means to generate sustainable earnings.
Moreover, Arbitrum has witnessed an increase in energetic customers, with a day by day common of 166.37 thousand individuals over the previous 30 days. This development in consumer adoption suggests rising curiosity and utilization of the Layer 2 scaling resolution.
Featured picture from Shutterstock, chart from TradingView.com
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