Ethereum's Layer 2 Leader Arbitrum Faces Two-Hour Outage. 🥞😓↘️
Arbitrum, Ethereum's leading layer-2 network, encountered a significant hurdle on December 15, 2023, enduring a nearly two-hour "partial outage" triggered by a sudden surge in network traffic. The disruption centered around Arbitrum's sequencer, a vital component responsible for transaction organization within Ethereum's core network blocks.
This incident echoes a similar outage in early June, attributed to a software bug. The Arbitrum team is actively engaged in addressing the issue and has committed to delivering a post-mortem analysis shortly.
With a Total Value Locked (TVL) of $2.35 billion and approximately $725 million in transaction volumes over the past day, Arbitrum holds a pivotal role as Ethereum's largest layer-two network. These layer-2 networks, including Arbitrum, play a crucial role in mitigating transaction congestion on the Ethereum main chain by enhancing transaction processing efficiency.
Stay tuned for updates as the Arbitrum team diligently works towards a resolution, navigating the challenges posed by increased network traffic and ensuring the continued reliability of this essential layer-2 solution.
