An error within Ethereum's Layer 2 scaling solution Starknet caused a four-hour blocking outage on April 4th, the protocol team revealed in a statement on X on April 5th.
According to the statementStarknet discovered a “rounding error bug that causes block reorganization” that causes the transaction backlog to reach maximum capacity.
Ethereum Layer-2 protocol backup and backup after blocking
“As a result, we were unable to accept new transactions for processing for several minutes and they were rejected,” the statement continued, revealing that “some transactions were canceled due to changes in parameters (such as timestamps).” .
Hmm!
Earlier today, we identified a rounding error bug that leads to block reorganization. Starknet block production continued as normal. However, due to the reorganization, the transaction backlog has reached its maximum capacity. As a result, it took several minutes for new transactions to take place…
— Starknet 🦇🔊 (@Starknet) April 5, 2024
“The backlog has been cleared and normal network operations have resumed,” the protocol added. “We are in contact with the relevant parties to ensure no further issues arise.”
Starknet's series of challenges
The outage caused Starknet's price to drop to $1.82 by Thursday morning, but had risen to $1.91 at press time, according to data from CoinGecko.
Thursday's four-hour outage follows the adoption of Ethereum's Dencun upgrade designed to reduce Layer 2 rollup fees, marking the latest challenge for the Israeli-based protocol, which had been experiencing delays in early March. ing.
In January, Uri Kolodny, co-founder and CEO of Starkware Industries, Starknet's parent company, stepped down from his role and was succeeded by Eli Ben Sasson, the company's president. is what happened.
“The egregious medical issues at home require my full attention,” Kolodny said in a statement at the time. “I received the LoA a year ago, but unfortunately it wasn't enough.”
This is difficult for me to write.
I resign as follows @StarkwareLtdCEO of Any egregious medical issues at home require my close attention. I took her LoA a year before his, but unfortunately it wasn't enough.
I will remain on the board of both StarkWare and The. @starknet…
— Uri Kolodny (@ukolodny) January 11, 2024
Kolodny said he is confident Ben Sasson will “lead Starkware to great heights with his talent and dedication.”
Great scalability, low cost
Despite some controversies, Starknet remains in the spotlight following a massive $728 million airdrop in February that claimed more than $220 million within hours of launch. We plan to officially unlock the virtual currency $STRK in April.
According to CoinGecko, the protocol has a market capitalization of approximately $1.38 billion and a fully diluted valuation of $18.9 billion, on par with some of the strongest layer 2 protocols.
Founded in 2018, StarkWare Industries develops zero-knowledge cryptographic proofs to address scalability.
According to the Starknet site, Ethereum's Layer 2 protocol aims to combine low costs with fast transactions and massive scaling.
Those eligible for the first round of STRK allocation starting in February have until June 20th to claim their tokens. A full analysis of Thursday's outage incident is expected to be published by Starknet at a to be determined date.
