Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage.
Developers on the Arbitrum Discord server faced connectivity issues with the network’s sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.
According to on-chain records, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.
What’s Next to Arbitrum?
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.
The cause behind the depletion of gas in Arbitrum’s sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network’s sequencer.
