Features News Today TheBitTimes.Com

The main network of the notorious ZkSync protocol has stopped working and has not produced blocks for more than 3 hours. The developers confirmed the technical failure on Dec. 25 and stated that they were working to restore functionality. The project team promised that they would notify the community once more information became available about the problem. The reasons for the network failure are still unknown. zkSync Era is currently encountering network issue s. Teams are actively addressing the situation and are committed to resolving it as swiftly as possible. We will share a post-mortem report once the issue has been fully addressed and analyzed. For updates:… — zkSync Developers (∎, ∆) (@zkSyncDevs) December 25, 2023 Source: Uptime Notably, last month ChainLight, a blockchain security audit company, discovered a vulnerability in the zkSync Era protocol that could result in a potential loss of $1.9 billion if exploited. Despite this, zkSync Era had many layer...

NHN Corporation, a South Korean IT firm, has partnered with Mysten Labs, a company founded by former Meta executives. They now plan to launch their first gaming products on the Sui Network in 2024. While the financial details of the agreement remain undisclosed, the IT firm expressed its intent to investigate additional applications for Sui in web3 game development. NHN Corp. offers multiple services such as cloud, fintech, entertainment and advertisement, to 37 million customers. However, this is not the first time the firm is diving into blockchain and video games . In October 2021, they partnered with video game developer, WeMade Co., to build on the Wemix blockchain. You might also like: PUBG developer Krafton teases metaverse video game Overdare NHN PlayArt, the Japanese arm of NHN, became an initial validator on the Oasys blockchain in July 2022. In early September 2023, the Sui Foundation introduced zkLogin–based on zero knowledge, enabling users to easil...

The blockchain has not produced any new blocks or processed transactions for at least an hour and 40 minutes, leading some to believe its currently suffering an outage. Layer-2 scaling solution Polygon (MATIC) has not processed a block in over an hour and a half, leading some to believe that the block chain network could be suffering from an outage . Latest blocks and transactions on Polygon. Source: Polygonscan According to data from Polygonscan, the block chain's last block and transaction was processed at around 8:35 pm UTC on Feb. 22. The network has previously suffered network outages, with the last occurring on Mar. 21-22, 2022 due to maintenance required on one of the network's three layers. The Polygon team is yet to comment on the outage . This is a developing story, and further information will be added as it becomes available. Source: https://thebittimes.com/breaking-polygon-blockchain-reportedly-suffers-network-outage-tbt39058.html?utm_source=blogger_sour...

A pl ETH ora of projects is building on Ethereum [ ETH ]. The network is home to several layer-2 projects. It seems like the attention of the industry was veering toward these projects as opposed to ETH . Over the weekend, Optimism ’s daily transaction count hit an all-time high of nearly 700,000. This is reportedly a 700 percent surge since September 2022. Arbitrum also mirrored this notion. Both these projects together flipped Ethereum in terms of transaction volume. According to the graph, Ethereum handled more than 1.06 million transactions on January 10 while Arbitrum and Optimism together processed over 1.12 million. Source As seen in the chart, Optimism, as well as Arbitrum, have witnessed a persistent increase since September 2022. It should be noted that both these networks account for 80 percent of the entire layer-2 ecosystem. Therefore, the above data signifies the emergence of layer-2 networks over Ethereum. Ethereum’s average fee stays grounded for...