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An issue within the Ethereum layer-2 scaling solution Starknet resulted in a four-hour block outage on April 4, as disclosed by the protocol team in a statement on X on April 5.
The statement indicated that Starknet identified a “rounding error bug that led to the reorganization of blocks,” which caused the transaction backlog to reach full capacity.
Ethereum Layer-2 Protocol Resumes Operations Following Block Outage
“As a result, there were several minutes during which new transactions could not be processed and were subsequently rejected,” the statement elaborated, noting that “some transactions were reverted due to changing parameters (e.g., timestamps).”
gm!
Earlier today, we identified a rounding error bug that led to a reorg of blocks. Starknet’s block production continued as usual. However, the reorg caused the transaction backlog to reach full capacity. Consequently, there were a few minutes during which new transactions…
— Starknet
(@Starknet) April 5, 2024
(@Starknet) April 5, 2024“The backlog has been cleared and normal network functionality has resumed,” the protocol stated. “We are coordinating with relevant parties to prevent any further issues.”
Starknet’s Series of Challenges
Data from CoinGecko indicates that the outage led to a decline in Starknet’s price to $1.82 by Thursday morning, although it had risen to $1.91 by the time of publication.
The four-hour outage on Thursday represents the latest hurdle for the Israel-based protocol, which faced delays in early March following the implementation of Ethereum’s Dencun upgrade aimed at lowering Layer-2 rollup fees.
In January, Starknet’s parent company saw co-founder and CEO Uri Kolodny resign from his position, leading to the company’s president, Eli Ben-Sasson, assuming his responsibilities.
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“Serious medical challenges at home require my full attention,” Kolodny stated at that time. “I took a leave of absence a year ago, but unfortunately that wasn’t sufficient.”
Writing this is hard for me.
I am stepping down as @StarkWareLtd’s CEO. Vicious medical challenges at home require my undivided attention. I took a LoA a year ago, but unfortunately that wasn’t nearly enough.
I will stay on as a board member of both StarkWare and the @starknet…
— Uri Kolodny (@ukolodny) January 11, 2024
Kolodny expressed confidence that Ben-Sasson would “guide StarkWare forward with skill and commitment, achieving great success.”
Significant Scalability, Reduced Costs
Despite some controversy, Starknet is poised to officially launch its cryptocurrency, $STRK, in April following a substantial 728 million airdrop in February, during which over 220 million tokens were claimed within hours of its release.
According to CoinGecko, the protocol boasts a market capitalization of nearly $1.38 billion and a fully diluted valuation of $18.9 billion, positioning it alongside several prominent players in the layer-2 space.
Founded in 2018, StarkWare Industries focuses on developing zero-knowledge cryptographic proofs to enhance scalability.
As stated on Starknet’s website, the Ethereum layer-2 protocol aims to combine low costs with rapid transactions and extensive scalability.
Those eligible for the initial round of STRK distribution from February have until June 20 to claim their tokens, while a comprehensive analysis regarding Thursday’s outage incident will be provided by Starknet at a later date.
The post Ethereum Layer-2 Protocol Starknet Sheds Light On What Caused 4-Hour Block Outage appeared first on Cryptonews.
