The Polygon blockchain has not processed a new block for more than an hour, which has led to rumors that the network might be down. Does this mean a security breach? What do the experts think about it?
Why Has The Activity On The Network Stopped?
According to Polygonscan statistics, the Polygon blockchain has not processed any new transaction for more than an hour. No official statement has been issued on this issue yet. The Polygon Layer 2 solution has not processed a new block for more than an hour. This led to rumors of a network outage. According to Polygonscan’s records, the last transaction took place at 23:35 GMT.
This has happened before
The Polygon network has experienced outages before. The last outage took place between March 21 and March 22, 2022. Polygon’s developers did not provide any official comment on the issue. As with all speculations, the fact that Polygon has not commented on the problem has led to many rumors. This is causing users to gradually reduce background trading.
Is Polygon Reducing The Number Of Employees?
The speculations that we have just pointed out do not stop. This situation has raised many question marks that the company is not operating efficiently.
In 2022, a turbulent year for the cryptocurrency market, several blockchain startups ran into economic difficulties. Several companies had to reduce their workforce. These companies included Coinbase, Gemini, Kraken and others.
Blockchain company Polygon also recently joined this trend and laid off its employees. The layoffs at Polygon came after Polygon Labs reduced its workforce by about 20%. The company said it would lay off about 100 employees as part of its consolidation efforts.
MATIC, the native token of the Polygon network, is currently trading at $1.37, according to CoinGecko.
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