Binance temporarily halts Polygon deposit and withdrawal to sync nodes

The layer-2 Ethereum scaling option Polygon network boasts millions of users along with an evolving ecosystem. On March 11, the network was upgraded on one of its 3 layers. However, due to a bug, the three layers failed to reach consensus after the upgrade. This caused the downtime.

The layer-2 Ethereum scaling service Polygon network boasts millions of users as well as a developing ecosystem. On March 11, the network was upgraded on one of its three layers. The PoS network of Polygon PoS is steady and works well. Each layer serves a various purpose in the Polygon network.

Due to the suspected bug, different Heimdall validators were on various versions of the chain. This prevented 2/3 consensus. The Polygon group notified traders and the Polygon team anticipated an interruption lasting a couple of hours, the prolonged outage of 11 hours ended up being a concern for traders and tasks alike.

Binance, the biggest crypto exchange in terms of trading volume, had revealed Tuesday that it would briefly suspend deposits and withdrawals from Polygon (MATIC Network) Network.

Twitter account of Polygon developer kept in mind that the bug was repaired and the network is stable. It clarified that Binance is currently updating its nodes and syncing info, thus the temporary halt.

Related: Polygons focus is on L2 facilities, surpassing MATICs drop of 50% from ATH.

This announcement was made in the wake the Polygon networks interruption on March 11, following a network upgrade. The crypto exchange specified that the withdrawal and deposit functions would be resumed once the network is steady.

After a security partner found an upgrade bug that could have exposed $24 billion in funds, Polygon network repaired it back in December 2021. The most recent Polygonscan information shows that the network is producing prompt blocks, and the group has confirmed that the bug has actually been repaired.
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The PoS network of Polygon PoS is steady and works well. All funds are safe and secure. Binance is upgrading its nodes, and currently syncing the block information, hence they have stopped briefly the deposit and withdrawal.https:// t.co/ hnhXp3AWga.
— Polygon Developers (@ 0xPolygonDevs) March 15, 2022.

Each layer serves a various function in the Polygon network. The Ethereum layer manages clever agreements, while the Bor layer assists in developing blocks. The third Heimdall layer is the problem.

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