Ethereum L2 StarkNet experiences a network outage

“StarkNet is currently experiencing downtime. Our team is actively investigating the issue and working to restore full functionality as quickly as possible,” StarkNet wrote in a statement, adding that updates would be shared as soon as possible.

Launched in 2021 by StarkWare, StarkNet is one of the major layer-2 scaling networks for Ethereum, relying on zero-knowledge proofs to reduce costs and speed up transactions. According to L2Beat, it's the 7th largest Ethereum Layer 2 solution with over $549 million in total value locked (TVL) on its network. 

While the specific reason for the StarkNet outage was not disclosed, a variety of factors can lead to downtime on blockchain networks. Often, the cause is a technical failure or software bug, such as a flaw in a critical component like a sequencer that orders transactions. Additionally, a network can be overwhelmed by a sudden surge in transactions, a phenomenon known as network congestion. For instance, during a popular token launch or a period of high market volatility, the system may be unable to handle the transaction volume, causing it to slow down or even stop processing new blocks entirely. Other potential causes include security vulnerabilities that are exploited by malicious actors, human error during system maintenance or updates, or more basic infrastructure problems affecting network nodes.

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Update: The network restored its operation after an hour of downtime. The team reorganized the network starting from block 1960612.