simply put

  • Ethereum L2 scaling solution Arbitrum has stopped processing transactions due to an error.

  • The incident revealed the network's vulnerability to problems with a single pipeline.

  • Despite the setbacks, L2 scaling solutions like Arbitrum and Optimism have shown resilience.

Ethereum layer 2 (L2) scaling solution Arbitrum stopped processing transactions on June 7 because its sequencer encountered an error in batch processing posters. The incident lasted only an hour.

The crypto community and Ethereum developers are discussing the fact that Arbitrum, the Ethereum L2 scaling solution, had to stop processing transactions. It turns out that the network had to pause transaction processing because the sorter encountered a bug that prevented it from publishing batches on-chain.

Ethereum L2 Arbitrum must stop trading

Arbitrum stopped processing transactions for about an hour on June 7. As is known, the sequencer that packages transactions faced a bug that prevented it from publishing batches on-chain. This was a very jarring revelation to some, as it suggested that a single bit in the pipeline could bring the network to a halt.

The Arbitrum Developers Twitter account said that the batch publisher of Sequencer was responsible for this issue. It was due to a bug in batch posting that prevented some transactions from being posted temporarily. They emphasized that this was not due to a lack of funds to pay for gas fees.

Arbitrum (ARB) price did not drop much, suggesting that it was largely unaffected by the incident. The token fell 4.9% from $1.18 to $1.12.

Ethereum L2 shows resilience

As authorities crack down on the crypto industry, layer 2 scaling solutions like Arbitrum are gaining popularity. The SEC sued Binance and Coinbase, sending shockwaves throughout the crypto world. These are among the SEC’s biggest targets to date.

During this period, prices for L2 solutions have been surging. They have all outperformed the market, with Optimistic and ImmutableX both seeing price increases between 3% and 6% over the past few days.

Optimism completes bedrock hard rock

Ethereum scaling solution Arbitrum is far from the only L2 project making headlines. It did recently vote on a budget proposal. It focused on transparency reporting on the 7.5% of ARB tokens allocated to the foundation’s “Administrative Budget Wallet.”

Optimism’s price increase may be due to its mainnet migration to Bedrock, which ended on June 7. The upgrade reduced deposit confirmation time from 10 minutes to 1 minute and cut gas fees by 40%.