Arbitrum Temporarily Stopped Processing Due to Software Bug
The Ethereum layer 2 network went out of service for several hours due to a bug in the sequencer and a resulting transaction backlog that stressed the network. A fix was deployed and the network is now processing again.
The Arbitrum blockchain suffered from a bug in its software Wednesday that caused the network to stop processing transactions on-chain for several hours.
There was a bug in Arbitrum’s sequencer, “responsible for taking user transactions, creating a batch of the transaction, and posting it on-chain,” according to the Arbitrum developers’ official Twitter account.
The software bug “created network stress caused by the large backlog of transactions which hadn’t been posted on-chain,” wrote Arbitrum Foundation’s community lead, who goes by the username “eli_defi,” on Discord. “A solution has already been deployed earlier today, and everything has been operating as it should.”
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Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
Why it matters:
Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
