- Polygon scan stopped including new blocks for over one hour on February 22.
- MATIC didn’t, nonetheless, present any indicators of affect as on-chain metrics look regular.
A Polygon [MATIC] re-org on 22 February precipitated some rumors to flow into in regards to the blockchain. In keeping with speculations, there was an outage as a result of information from PolygonScan confirmed that the blockchain had not generated new blocks or processed transactions for over an hour and a half.
Learn Polygon (MATIC) Value Prediction 2023- 24
Nonetheless, co-founder Sandeep Nailwal, through a tweet, suggested customers to make the most of a distinct community to conduct transactions. So, what was the hubbub in regards to the Polygon blockchain, and did it have any impact on MATIC?
It looks like Polygonscan is having some points. You should utilize OKLink explorer in the intervening timehttps://t.co/nt6vhGdF62
— Sandeep | Polygon 💜 High 3 by affect (@sandeepnailwal) February 22, 2023
The foundation reason for the interruptionsÂ
An “unusually large” block reorganization occurred two minutes earlier than Polygon reported its nodes turned out of sync, suggesting that this was the basis reason for the community’s issues.
A “fork” within the chain happens when community operators publish two blocks concurrently, resulting in competing variations of the chain’s everlasting file. To settle the dispute, the community does a block reorganization, which discards one entry in favor of the one it has decided to be the “canonical” one.
A have a look at the PloygonScan as of this writing revealed that it was again up and working, with blocks generated quickly reflecting.
Transaction quantity and lively tackle are regular
In keeping with the amount of transactions on Santiment, there was no discernible impact of the downtime on Polygon. The transaction quantity was roughly 24.8 million as of the time of writing, with no noticeable fall.
The quantity recorded on 22 February was over 31 million, which was much like the amount recorded the earlier days.
Additionally, a have a look at Polygon’s seven-day lively tackle revealed no considerable change in exercise. About 800,000 addresses had been lively on the community on 22 February, in keeping with a examine of the lively addresses for that day.Â
MATIC on a day by day timeframe
As of this writing, Polygon (MATIC) was down over 2% in worth and was buying and selling at about $1.3. Nonetheless, it’s attention-grabbing to notice that the asset recorded a acquire of 0.65% throughout the previous buying and selling session, the day of the outage.Â
How a lot are 1,10,100 MATICs value in the present day?
Furthermore, the Relative Energy Indicator indicated that the bull development had not modified. On a day by day timescale, the RSI line was over 55, displaying a fairly strong bull development for Polygon.Â
The transient downtime that the Polygonscan skilled had no detrimental results, in keeping with the metrics and worth motion seen for MATIC. At this writing, the community was again up, and the on-chain measurements have proven common exercise.