Due to a technical issue, Polygon, an Ethereum scaling project, had its blockchain network down for almost eight hours on Friday night. According to a tweet from the corporation, the network has been restored with a “temporary hotfix.”
According to Polygon co-founder Mihailo Bjelic, the project’s proof-of-stake blockchain network comprises two layers: Heimdall (the consensus layer, based on Cosmos SDK/Tendermint) and Bor (the transaction layer), which is based on Geth). According to Bjelic, a “minor upgrade” on the Bor layer caused the Heimdall layer to become stuck, and the network to stop producing blocks. According to Bjelic, the upgrade was not expected to affect the consensus layer “in any way.” However, the network went down from 5:50 p.m. UTC on Thursday to roughly 1:50 a.m. UTC on Friday.
Bjelic did not go into detail about the workaround, but said it was implemented “as fast as feasible” to get the blockchain back up and running. “At no point were user finances in jeopardy, “he claimed. A permanent remedy, which will necessitate more action from validators and will essentially be a network upgrade, should be available today or tomorrow.
Polygon is one of the most important blockchain ecosystems, with over 7,000 decentralised applications completed or under development. Polygon was on the verge of losing virtually all of its MATIC tokens, valued at $24 billion, in December, when the outage occurred. Polygon’s proof-of-stake genesis contract had a significant issue at the time, which may have allowed attackers to mint all of Polygon’s 9.2 billion MATIC tokens from its MRC20 contract at will. At the time, the project launched a hard fork to correct the flaw, but before it could deploy the repair, a hostile actor stole 801,601 MATIC tokens valued at more than $2 million.
Bjelic stated:
“Polygon is spending significantly more on security, yet the network continues to have challenges.”
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