The Arbitrum network, an Ethereum L2 (Layer 2) rollup, came into certain problems that plagued the generation of transactions and transaction confirmation to come to a halt. And per the Arbitrum group, the event was caused by downtime with its sequencer, a unique node that maintains transaction order, which rendered the system inaccessible for around 7 minutes. 7 Hour of Arbitrum Booths
Major cryptocurrencies such as Bitcoin, Ethereum and ICX crack as China strengthens its stance against crypto.
Ethereum is releasing the “London” mainnet upgrade this week, which is the most significant update to Ethereum's fundamental system in years.