• ‘Funds are never jeopardized.’ During Downtime, Ethereum Scaling Solution Arbitrum Developers

  • According to a report by the network’s developers, Offchain Labs, the Sequencer feature of the popular Ethereum scaling solution Arbitrum One went down for approximately 45 minutes at 10:14 ET yesterday.

    Arbitrum attempts to solve Ethereum’s transaction bottleneck (which can only handle 14 transactions per second) by employing an Optimistic Rollup transaction verification mechanism.

    The Optimistic Rollup solution involves moving the transaction verification process away from the Ethereum blockchain and onto a sidechain, which settles transactions on the main blockchain on a regular basis to reduce congestion and fees.

    Despite the fact that Offchain claims that “funds were never at risk,” users were unable to submit new transactions during the outage.

    Offchain quickly resolved the Sequencer bug, and the team stated in the outage report, “The root cause of the downtime was a bug causing the Sequencer to get stuck when it received a very large burst of transactions in a short period of time.” The problem has been identified, and a solution has been implemented.”

    Arbitrum’s Sequencer is an optional feature of Arbitrum chains that can be enabled or disabled at any time. The Sequencer guarantees the results of user transactions instantly, without the need to wait for Ethereum block confirmations.

    One billion dollars has been invested in Ethereum Layer 2 Scaling Solutions.

    Offchain clarified that all transactions accepted by the Sequencer were eventually included in their correct order, with one exception: those accepted between 10:13 ET and 10:14 ET were “reassigned a timestamp when the Sequencer returned online” at 10:59 ET, but Offchain maintains that “the ordering of these transactions was fully preserved.”

    Arbitrum has returned to normal.

    Offchain reassured network users further by emphasizing that “no deposits or withdrawals were lost or at risk at any point,” because each transaction requires the users’ digital signature, which is then validated by the Arbitrum chain.

    There is currently an outage on Arbitrum One. Our team is working on it, and we will keep you updated.

    — Arbitrum is now available on the mainnet! (@arbitrum) 14th of September, 2021

    The outage had little effect on the rapid growth of Arbitrum’s decentralized finance (DeFi) services. According to DeFi Lama, the total value of assets locked up in smart contracts is currently $1.8 billion.

    Arbitrum is now back on track.

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