Polygon: Re-org causes brief outage, was MATIC affected?

• Polygon scan stopped including new blocks for over one hour on February 22.
• MATIC didn’t, nevertheless, present any indicators of impression as on-chain metrics look regular.

A Polygon [MATIC] re-org on 22 February prompted some rumors to flow into in regards to the blockchain. In line with speculations, there was an outage as a result of knowledge from PolygonScan confirmed that the blockchain had not generated new blocks or processed transactions for over an hour and a half.

Learn Polygon (MATIC) Worth Prediction 2023- 24

Nevertheless, co-founder Sandeep Nailwal, by way of 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 use OKLink explorer in the mean timehttps://t.co/nt6vhGdF62

— Sandeep | Polygon 💜 High 3 by impression (@sandeepnailwal) February 22, 2023

The basis reason for the interruptions 

An “unusually huge” block reorganization occurred two minutes earlier than Polygon reported its nodes grew to become 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 take 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 energetic handle are regular

In line with the quantity 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 amount recorded on 22 February was over 31 million, which was just like the quantity recorded the earlier days.

Supply: Santiment

Additionally, a take a look at Polygon’s seven-day energetic handle revealed no considerable change in exercise. About 800,000 addresses had been energetic on the community on 22 February, in accordance with a test of the energetic addresses for that day. 

Supply: Santiment

MATIC on a day by day timeframe

As of this writing, Polygon (MATIC) was down over 2% in value and was buying and selling at about $1.3. Nevertheless, it’s attention-grabbing to notice that the asset recorded a acquire of 0.65% in the course of the previous buying and selling session, the day of the outage. 

How a lot are 1,10,100 MATICs value at present?

Furthermore, the Relative Power Indicator indicated that the bull development had not modified. On a day by day timescale, the RSI line was over 55, exhibiting a fairly sturdy bull development for Polygon. 

Supply: TradingView

The temporary downtime that the Polygonscan skilled had no detrimental results, in accordance with the metrics and value motion observed for MATIC. At this writing, the community was again up, and the on-chain measurements have proven common exercise.