Binance Halts Polygon Transactions to Sync Block Data

Binance Halts Polygon Transactions

Cryptocurrency exchange Binance has temporarily blocked deposits and withdraws from the Polygon chain to upgrade and synchronize nodes.

The scaling solution’s team says that Polygon is stable and in good working condition and that the funds are safe. The developers add that the halt is due to the syncing of block data by the exchange.

The directive comes after a network downtime that lasted 11 hours triggered by a bug during an upgrade on the Heimdall layer.

The alleged bug caused the validators to operate on different chain versions, causing them not to reach the required 2/3 consensus. Polygon addressed another bug in December 2021 that could have caused losses of more than $20 billion.

Polygon is an Ethereum layer 2 scaling solution comprising three layers. The first layer, the Ethereum layer, manages smart contracts, the Bor layer facilitates block creation, and the Heimdall layer conducts transaction validation.

Source: Cointelegraph

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