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Arbitrum (ARB), a distinguished Ethereum scaling solution, encountered a big downtime occasion on December 15, in response to the community’s status page. 

The incident prompted a direct investigation into the foundation trigger and the deployment of a repair. As of the time of writing, the Arbitrum One community remained inaccessible for over 60 minutes as a result of sequencer and feed points.

Arbitrum Struggles With Network Downtime

The standing replace from Arbitrum acknowledged the issue, stating that the Arbitrum One Sequencer and Feed stalled at 10:29 AM ET amidst a notable surge in community site visitors. 

Notably, Martin Köppelmann, co-founder of Gnosis, alleged that the outage skilled inside the Arbitrum community was a results of ordinals. Köppelmann remarked that the stress testing of assorted blockchains utilizing ordinals had led to the disruption, stating, “Ordinals stress testing various blockchains is certainly entertaining to watch. Now they brought the Arbitrum sequencer down.”

In addition to the sequencer and feed points, Arbitrum additionally encountered a halt in block manufacturing, ceasing to generate new blocks roughly 1.5 hours in the past. The impression of this stoppage on the community’s general performance and transaction processing stays a priority for customers and stakeholders.

The investigation into the foundation reason for the downtime is essential for understanding the underlying technical points and stopping comparable disruptions sooner or later. Users and business contributors eagerly await the autopsy evaluation from Arbitrum, which is able to present a detailed account of the incident and the proposed remedial measures.

ARB Thrives Despite Market Volatility

Over the previous 24 hours, the ARB token skilled a decline of 4.94%, reflecting short-term market fluctuations. However, the token has demonstrated relative stability when contemplating its efficiency over longer timeframes.

In the final 180 days, ARB has proven a significant growth of 17.76%, indicating a constructive development for long-term buyers.

According to Token Terminal data, Arbitrum at present boasts a circulating market capitalization of $1.49 billion, with a completely diluted market capitalization of $11.69 billion. 

Revenue generated by the challenge has skilled vital development over the previous 30 days, with a notable improve of 68.00%. The income projection on an annualized foundation stands at $85.97 million, highlighting the challenge’s potential to generate sustainable revenue.

Moreover, Arbitrum has witnessed an increase in energetic customers, with a day by day common of 166.37 thousand contributors over the previous 30 days. This development in consumer adoption suggests rising curiosity and utilization of the Layer 2 scaling answer.

Featured picture from Shutterstock, chart from TradingView.com 

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